Flügger Group (FLUG) Q3 25/26 earnings summary

Executive summary

• Q3 2025/26 saw 1% sales growth, with revenue at DKK 451 million, driven by double-digit gains in Poland and stable Nordic core customer demand, offsetting declines in the DIY segment and low-price product phase-out.

• Year-to-date (May–Jan) revenue reached DKK 1,715 million, also a 1% increase, with positive momentum among consumers and professionals in both Nordic and International segments.

• Strategic phase-out of private-label low-price products continues to impact topline, especially in Denmark, but growth is seen among quality-focused consumers and professionals in Nordics and Poland.

Financial highlights

• Q3 revenue guidance is DKK 2.2–2.4 billion, with EBIT guidance of DKK 100–120 million, representing a 6–28% increase versus last year.

• Q3 revenue: DKK 451 million (up 1% year-over-year); year-to-date revenue: DKK 1,715 million (up 1%).

• Favourable FX impact contributed +2% to results; Poland delivered 12% growth, while Ukraine faced FX headwinds of -10% in Q3.

• Segment International grew 4% in Q3, driven by 12% growth in Poland.

• Nordic segment sales stable year-over-year, with growth in Sweden and Norway offsetting decline in Denmark.

Outlook and guidance

• 2025/26 guidance maintained: revenue DKK 2.2–2.4 billion, EBIT DKK 100–120 million.

• Focus remains on core Flügger brand and professional painters, with digital B2B platform rollout and international store expansion.

• Management expects continued progress in core markets and is prepared for the high season in the final quarter.

• Limited direct exposure to Middle East conflict; 98% of raw materials sourced in Europe.