Denmark's TCM Group Q1 revenue rises, margin improves; helped by B2C sales

TCM A/S

21/05/2026 06:40

Overview

Denmark kitchen maker's Q1 revenue rose 17.6% yr/yr to DKK 362.4 mln

Gross margin improved to 23.3%, driven by efficiency projects and B2C sales mix shift

Free cash flow turned positive at DKK 48 mln, mainly due to improved net working capital

Outlook

TCM Group maintains 2026 revenue guidance at DKK 1,400-1,500 mln

Company expects 2026 adjusted EBITA between DKK 120 and DKK 140 mln

Company says order intake remains volatile and monitors geopolitical risks to demand

Result Drivers

B2C SALES AND NORWAY GROWTH - Co said Q1 revenue growth was driven by increased sales in both B2B and B2C, with Norway contributing positively and B2C driving order intake

GROSS MARGIN IMPROVEMENT - Co attributed higher gross margin to internal efficiency projects and a shift in sales mix toward more profitable B2C segment

RISING COSTS - Co observed price increases in raw materials and freight costs due to higher oil prices toward end of qtr

Company press release: ID:nGNEb76ChB

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
DKK 362.4 mln


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 DKK90.00, about 31.2% above its May 20 closing price of DKK68.60

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