Flügger Group (FLUG) Q4 25/26 earnings summary

Executive summary

• Achieved 2% revenue growth to DKK 2,313m, driven by professional painters and quality-focused consumers, despite planned reduction in private-label low-price products.

• EBIT increased 15% to DKK 108m, supported by improved product mix and production cost optimization.

• Strong cash flow and further debt reduction enabled a proposed dividend of DKK 20 per share and a share buyback program.

• Continued expansion in Poland with 11% growth and four new stores; Nordic segment up 2% despite Danish decline.

• Strategic focus on sustainability, digitalization, and resilience in supply chain amid geopolitical uncertainties.

Financial highlights

• Revenue: DKK 2,313m (+2% YoY); EBIT: DKK 108m (+15% YoY); Net income: DKK 63m (+8% YoY).

• Gross margin improved to 55.5% (+1.9pp YoY); ROCE at 7.6% (+1.4pp YoY).

• Earnings per share: DKK 21.2 (+9% YoY); proposed dividend: DKK 20 per share.

• Operating cash flow: DKK 314m (+23% YoY); net debt (excl. leasing): DKK 124m (down from DKK 250m).

• Investments in tangible assets: DKK 78m.

Outlook and guidance

• FY 2026/27 revenue expected at DKK 2,400–2,500m, with EBIT guidance of DKK 105–125m.

• Moderate growth anticipated, driven by new store openings and customer acquisition, with stable to slightly increasing market activity.