TCM Group (TCM) Q4 2025 earnings summary

Executive summary

• Q4 2025 sales grew 10.5% year-over-year to DKK 333 million, with organic growth of 5.3%.

• Achieved 6.3% revenue growth for FY 2025, reaching DKK 1,279 million, driven by both B2B and B2C segments and supported by international expansion, especially in Norway.

• Full-year net profit rose to DKK 77.8 million from DKK 57.7 million, reflecting improved operational execution.

• Completed acquisition of remaining 55% of Celebert ApS for DKK 80 million, strengthening digital and omni-channel capabilities.

• Board proposes an ordinary dividend of DKK 4.50 per share, totaling DKK 46 million (60% of net profit).

Financial highlights

• FY 2025 revenue: DKK 1,279 million (up 6.3%); Q4 revenue: DKK 333 million (up 10.5%).

• Adjusted EBIT: DKK 98.3 million (margin 7.7%); Adjusted EBITA: DKK 110.2 million; Q4 adjusted EBIT: DKK 31 million.

• Net profit: DKK 77.8 million (up from DKK 57.7 million); Q4: DKK 33.8 million.

• Gross margin improved to 22.7% for FY and 24.3% in Q4.

• Free cash flow for FY: DKK 43.9 million; Q4: DKK 7–11.2 million.

Outlook and guidance

• 2026 revenue expected at DKK 1.4–1.5 billion.

• Adjusted EBITA for 2026 guided at DKK 120–140 million.

• Focus on full integration of Celebert ApS, maximizing new lacquering facility, and ERP roll-out.

• Guidance now based on adjusted EBITA to better reflect underlying profitability.

• Moderately positive market development expected, with gradual improvement in consumer confidence.