Gabriel Holding (GABR) Q2 25/26 earnings summary

Executive summary

• Revenue from continuing operations grew by 1% year-over-year to DKK 263.3 million in H1 2025/26, with EBIT rising to DKK 22.7 million from DKK 20.9 million.

• Discontinued operations (FurnMaster) reported a net loss after tax of DKK -8.9 million, an improvement from DKK -10.9 million year-over-year.

• Cash flow from operating activities was DKK 38.6 million, down from DKK 51.5 million in the prior year.

• Initiated a share buyback program and entered a liquidity provider agreement with ABG Sundal Collier ASA.

• European and North American sales increased, while Asian sales declined slightly; market conditions in Europe and Asia were negatively impacted in Q2, but the US showed a slight upward trend.

Financial highlights

• Gross margin for continuing operations was 54.7%, slightly up from 54.4% year-over-year.

• EBIT margin (operating margin) was 8.6% for the first half, up from 8.0% year-over-year.

• EPS for the period was DKK 9.2, compared to DKK 10.1 in the previous year.

• Net profit for the period was DKK 8.5 million, slightly up from DKK 8.2 million last year.

• Average number of employees decreased to 380 from 390 year-over-year.

Outlook and guidance

• Full-year revenue guidance is DKK 510–550 million, with EBIT expected between DKK 40–55 million.

• Management expects challenging market conditions to persist for the rest of the fiscal year, mainly due to ongoing geopolitical risks.