Flügger Group (FLUG) Q1 24/25 earnings summary

Executive summary

• Q1 2024/25 revenue reached 635m DKK, up 2% year-over-year, with 1% organic growth and 1% positive currency impact.

• Achieved double-digit international growth, maintaining position in Nordics.

• Growth among consumers offset declines in the professional segment in Denmark and Sweden.

• Launched "Flügger Organic" strategy in May 2024, focusing on international expansion and professional painter initiatives.

• Strategic focus on sustainable, color-inspiring solutions and operational simplification.

Financial highlights

• Q1 2024/25 revenue: 635m DKK (+2% year-over-year); Nordic: 429m DKK (-1%); International: 207m DKK (+18%).

• Currency effects contributed positively to both Nordic (+1%) and International (+5%) segments.

• 2023/24 revenue from continuing operations: 2,208m DKK; EBIT: 68m DKK.

• Nordic segment revenue declined 1% in DKK, with Denmark down 2%, Sweden down 3%, and Norway up 4%.

• International segment revenue rose 18%, led by Poland up 23% and other markets up 6%.

Outlook and guidance

• 2024/25 revenue guidance: 2,200m–2,400m DKK; EBIT: 75m–95m DKK.

• Priorities include winning small/medium painters in Nordics, expanding international growth, and reducing debt.

• Margin levels expected to remain normalized; outlook described as cautiously optimistic.