350.00
-0.68%
Close of 9 Nov 2026, in DKK
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At a glance
Figures in DKK, from our data supplier.
Revenue
DKK 7.89bn
FY2016FY2025
Net income
DKK 256.9m
FY2016FY2025
Free cash flow
DKK 477.6m
FY2016FY2025
Shareholders' equity
DKK 3.49bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 7.89bn | DKK 6.54bn | DKK 6.08bn | DKK 5.54bn | DKK 3.63bn | DKK 2.84bn | DKK 2.45bn | DKK 2.05bn | DKK 1.42bn | DKK 899.6m |
| Gross profit | DKK 1.86bn | DKK 1.91bn | DKK 1.70bn | DKK 1.77bn | DKK 1.33bn | DKK 1.16bn | DKK 995.8m | DKK 816.5m | DKK 612.7m | DKK 372.6m |
| Operating income | DKK 917.0m | DKK 785.5m | DKK 578.0m | DKK 839.4m | DKK 780.1m | DKK 644.9m | DKK 511.3m | DKK 364.3m | DKK 273.2m | DKK 200.5m |
| Net income | DKK 256.9m | DKK 470.2m | DKK 303.5m | DKK 603.4m | DKK 576.1m | DKK 321.9m | DKK 388.5m | DKK 181.2m | DKK 141.6m | DKK 32.8m |
| Diluted earnings per share | 5.50 | 9.78 | 6.09 | 12.16 | 11.75 | 6.56 | 7.91 | 3.65 | 2.94 | 0.66 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | DKK 9.90bn | DKK 8.07bn | DKK 8.16bn | DKK 7.19bn | DKK 7.02bn | DKK 4.04bn | DKK 3.73bn | DKK 3.49bn | DKK 3.47bn | DKK 2.86bn |
| Cash and short-term investments | DKK 287.5m | DKK 250.9m | DKK 448.1m | DKK 336.0m | DKK 458.8m | DKK 359.0m | DKK 132.3m | DKK 107.7m | DKK 194.5m | DKK 60.0m |
| Total liabilities | DKK 6.42bn | DKK 4.46bn | DKK 4.33bn | DKK 3.67bn | DKK 3.98bn | DKK 1.61bn | DKK 1.66bn | DKK 1.68bn | DKK 1.83bn | DKK 1.60bn |
| Debt | DKK 3.64bn | DKK 2.46bn | DKK 2.61bn | DKK 2.19bn | DKK 2.60bn | DKK 853.3m | DKK 1.06bn | DKK 1.19bn | DKK 1.30bn | DKK 1.23bn |
| Shareholders' equity | DKK 3.49bn | DKK 3.62bn | DKK 3.82bn | DKK 3.52bn | DKK 3.03bn | DKK 2.43bn | DKK 2.07bn | DKK 1.81bn | DKK 1.64bn | DKK 1.26bn |
| Shares outstanding | 47m | 48m | 50m | 50m | 49m | 49m | 49m | 50m | 48m | 50m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | DKK 582.9m | DKK 966.9m | DKK 758.6m | DKK 773.0m | DKK 465.6m | DKK 580.9m | DKK 460.3m | DKK 186.4m | DKK 195.3m | DKK 116.9m |
| Capital spending | −DKK 105.3m | −DKK 145.9m | −DKK 206.4m | −DKK 170.3m | −DKK 57.5m | −DKK 23.9m | −DKK 24.6m | −DKK 22.9m | −DKK 27.8m | −DKK 22.2m |
| Free cash flow | DKK 477.6m | DKK 821.0m | DKK 552.2m | DKK 602.7m | DKK 408.0m | DKK 557.0m | DKK 435.8m | DKK 163.6m | DKK 167.5m | DKK 94.7m |
| Dividends paid | — | — | — | — | −DKK 49.1m | −DKK 49.1m | −DKK 49.1m | −DKK 49.1m | — | −DKK 116.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | DKK 2.46bn | DKK 2.41bn | DKK 2.26bn | DKK 2.17bn | DKK 1.71bn | DKK 1.74bn | DKK 1.68bn | DKK 1.61bn |
| Gross profit | DKK 628.8m | DKK 487.6m | DKK 413.0m | DKK 492.6m | DKK 442.9m | DKK 515.1m | DKK 488.6m | DKK 499.5m |
| Operating income | DKK 68.5m | DKK 240.7m | DKK 286.4m | DKK 261.5m | DKK 156.5m | DKK 209.6m | DKK 193.6m | DKK 228.9m |
| Net income | DKK 196.9m | DKK 143.7m | DKK 147.3m | −DKK 67.9m | DKK 55.7m | DKK 121.7m | DKK 117.8m | DKK 139.5m |
| Diluted earnings per share | 4.32 | 3.15 | 3.15 | -1.45 | 1.19 | 2.61 | 2.45 | 2.90 |
| Cash from operations | DKK 123.0m | −DKK 237.0m | DKK 83.0m | DKK 317.0m | DKK 77.0m | DKK 103.0m | DKK 581.0m | DKK 179.0m |
| Capital spending | −DKK 16.0m | −DKK 36.0m | −DKK 46.0m | −DKK 29.0m | −DKK 52.0m | −DKK 35.0m | −DKK 48.0m | −DKK 34.0m |
| Free cash flow | DKK 107.0m | −DKK 273.0m | DKK 37.0m | DKK 288.0m | DKK 25.0m | DKK 68.0m | DKK 533.0m | DKK 145.0m |
| Total assets | DKK 10.88bn | DKK 10.21bn | DKK 9.90bn | DKK 9.89bn | DKK 9.34bn | DKK 8.20bn | DKK 8.07bn | DKK 8.01bn |
| Cash and short-term investments | — | — | DKK 287.5m | DKK 265.6m | DKK 1.14bn | DKK 185.1m | DKK 250.9m | DKK 32.6m |
| Debt | DKK 835.5m | DKK 3.11bn | DKK 3.13bn | DKK 253.8m | DKK 2.78bn | DKK 1.76bn | DKK 1.76bn | DKK 1.73bn |
| Shareholders' equity | DKK 3.43bn | DKK 3.40bn | DKK 3.49bn | DKK 3.55bn | DKK 3.75bn | DKK 3.69bn | DKK 3.62bn | DKK 3.72bn |
Financial ratios
Data as of 30 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 23.6% | 29.1% | 28.0% | 32.0% | 36.7% | 40.7% |
| Operating margin | 11.6% | 12.0% | 9.5% | 15.1% | 21.5% | 22.7% |
| Net margin | 3.3% | 7.2% | 5.0% | 10.9% | 15.9% | 11.3% |
| Return on equity | 7.4% | 13.0% | 7.9% | 17.1% | 19.0% | 13.3% |
| Return on assets | 2.6% | 5.8% | 3.7% | 8.4% | 8.2% | 8.0% |
| Free cash flow yield | 4.8% | 7.5% | 6.3% | 6.2% | 3.5% | 4.0% |
| Revenue growth | 20.7% | 7.6% | 9.6% | 52.7% | 27.9% | 15.7% |
| Earnings growth | -45.4% | 54.9% | -49.7% | 4.7% | 79.0% | -17.1% |
| Current ratio | 0.99x | 1.50x | 1.68x | 1.87x | 2.02x | 2.45x |
| Debt to equity | 0.82x | 0.49x | 0.48x | 0.57x | 0.81x | 0.33x |
| Equity ratio | 35.2% | 44.8% | 46.9% | 48.9% | 43.2% | 60.1% |
| Interest coverage | 7.84x | 4.94x | 4.36x | 12.81x | 25.38x | 27.88x |
| Buybacks as a share of market value | 2.9% | 3.4% | -0.3% | -1.2% | 0.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.5% | 22.7% | 26.4% |
| Operating income | 3.0% | 7.3% | 16.0% |
| Net income | -24.8% | -4.4% | 3.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.1% | 27.8% | 29.9% | 32.0% |
| Operating margin | 11.8% | 12.0% | 14.0% | 15.2% |
| Net margin | 5.0% | 6.3% | 7.8% | 8.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 65.1 | 34.7 | 37.0 | 24.2 | 60.0 | 95.0 | 40.1 | 60.3 |
| Price to sales | 2.1 | 2.5 | 1.9 | 2.6 | 9.5 | 10.8 | 6.3 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Mar 2021.
| FY2021 | |
|---|---|
| Paid in the year | 1.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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