Glunz & Jensen Holding (GJ) H1 2026 earnings summary

Executive summary

• H1 2026 results were weaker than expected, with revenue and profit impacted by delayed customer equipment pickups, postponing DKK 7.6 million in revenue to H2 2026 and lowering EBITDA and profit before tax by DKK 2.3 million.

• Revenue for H1 2026 was DKK 67.0 million, down 10% year-over-year from DKK 74.5 million in H1 2025.

• Gross profit margin improved to 27.2% from 26.3% despite lower gross profit in absolute terms.

• Equity increased to DKK 117.0 million, with an equity ratio of 50.7% as of June 30, 2026.

Financial highlights

• Revenue: DKK 67.0 million (H1 2025: DKK 74.5 million).

• Gross profit: DKK 18.2 million (H1 2025: DKK 19.6 million).

• EBITDA: DKK 8.4 million (H1 2025: DKK 9.5 million).

• Profit before tax: DKK 5.6 million (H1 2025: DKK 6.3 million).

• Net profit: DKK 4.3 million (H1 2025: DKK 4.8 million).

• Free cash flow: DKK 2.4 million (H1 2025: DKK 1.6 million).

Outlook and guidance

• 2026 outlook unchanged: revenue expected at DKK 140 million, EBITDA around DKK 18 million, and profit before tax of approximately DKK 12 million.

• Outlook excludes potential costs or gains from the ongoing Selandia Park sale process.

• Free cash flow will be allocated to business development, technology investments, and debt reduction.