Denmark's TCM Group Q4 revenue rises, gross margin improves on new lacquering facility benefits

TCM A/S

26/02/2026 06:44

Overview

The Scandinavian kitchen manufacturer's Q4 revenue grew 10.5% yr/yr to DKK 333 mln

Gross margin improved due to enhanced sales and new lacquering facility benefits

Adjusted EBIT rose slightly, impacted by acquisition-related expenses

Outlook

TCM Group estimates 2026 revenue between DKK 1,400 million and DKK 1,500 million

Adjusted EBITA for 2026 expected between DKK 120 million and DKK 140 million

Company plans full integration of Celebert ApS and ERP platform rollout in 2026

Result Drivers

SALES GROWTH - Organic sales increased by 5% yr/yr, driven by both B2B and B2C segments, with significant contributions from Norway

GROSS MARGIN IMPROVEMENT - Gross margin rose to 24.3% due to improved sales and benefits from new lacquering facility

TEMPORARY COST INCREASES - Operating expenses rose due to acquisitions, expected to be temporary as acquired stores will be spun off

Company press release: ID:nGNE10GpjC

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
DKK 333 mln
Q4 Adjusted EBITDA
DKK 41.80 mln
Q4 Adjusted EBIT
DKK 30.90 mln
Q4 Adjusted EBITDA Margin
12.60%
Q4 Adjusted EBIT Margin
9.30%


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction supplies & fixtures peer group is "buy."

Wall Street's median 12-month price target for TCM Group A/S is DKK88.50, about 38.3% above its February 25 closing price of DKK64.00

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)