Hove (HOVE) Q4 2025 earnings summary

Executive summary

• Achieved record revenue of DKK 209.1 million, up 23% year-over-year, and all-time high net profit of DKK 13.6 million, up 141% from 2024.

• EBITDA rose to DKK 22.6 million (67% increase), with margin improving to 10.8% from 8% last year.

• Proposed dividend per share increased to DKK 0.25, totaling DKK 6.3 million.

• Initiated a DKK 20 million investment program to support growth and competitiveness.

Financial highlights

• Gross profit increased to DKK 72.7 million (16% growth), though gross margin declined to 34.8% due to higher private label share.

• Cash flow from operations was positive at DKK 6.8 million, a DKK 10.9 million improvement.

• Total cash flow for 2025 was negative DKK 4.4 million, ending the year with zero cash position.

• Solvency ratio remained strong at 76%.

• Share price rose 63% to DKK 4.93 at year-end, with market cap at DKK 124.6 million.

Outlook and guidance

• 2026 revenue guidance: DKK 210–240 million; EBITDA guidance: DKK 22–29 million.

• Continued investment in sales and product development, including new hires in key markets.

• Focus on establishing a foundation for future growth and higher profitability.