Leifheit (LEI) Q1 2026 earnings summary

Executive summary

• Q1 turnover was €61.217m, down 4.0% YoY; gross margin rose 0.8 percentage points to 46.4%, while EBIT was -€2.844m, mainly reflecting higher marketing and logistics costs.

• FOCUS launched to improve efficiency, resilience and operational flexibility, with initial results expected from mid-2026.

• Brand investment and innovation supported early stabilization in core categories and a turnaround in laundry care, despite weak consumer sentiment.

Financial highlights

• Turnover was €61.217m versus €63.744m in Q1 2025; gross profit declined to €28.393m from €29.093m.

• EBIT was -€2.844m versus €3.105m; EBT was -€3.197m versus €2.839m, and net result was -€2.302m versus €2.016m.

• Distribution costs rose €4.7m to €24.5m, mainly due to advertising, marketing and logistics; administrative costs rose €0.6m to €5.5m.

• Free cash flow was -€11.7m versus -€7.2m; operating cash flow was -€11.1m and investing cash flow -€0.6m.

Outlook and guidance

• FY 2026 guidance was confirmed: slight turnover growth, EBIT roughly at the 2025 level of €10.0m, and free cash flow roughly at the 2025 level of €6.4m.

• Household turnover is forecast to grow slightly; Wellbeing to decline by mid-single digits; Private Label to grow by high-single digits.

• Higher marketing investment, particularly in H1, is expected to temporarily weigh on EBIT; profitability is expected to return in upcoming quarters.

• Mid-term targets include sales growth of ~3–6% CAGR and an EBIT margin of ~7–10%; Vision 2030+ targets sales above €300m and EBIT above 10%.

• FOCUS results are expected from mid-year; guidance remains subject to uncertainty around Middle East escalation and related cost increases.