Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Chair Soren Eskildsen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 09
Gabriel Holding A/S Provides Earnings Guidance for the Full Year 2025/2026 Gabriel Holding A/S provided earnings guidance for the full year 2025/2026. For the period, the company's revenue from continuing activities is expected to remain unchanged at DKK 510 to DKK 550 million and operating profit (EBIT) of DKK 40 million to DKK 55 million. Announcement • Mar 20
Gabriel Holding A/S (CPSE:GABR) announces an Equity Buyback for SEK 250 million worth of its shares. Gabriel Holding A/S (CPSE:GABR) announces an share repurchase program. Under the program, the company will repurchase up to 94,500 shares for SEK 150 million worth of its shares from Danske Bank A/S. The program will valid till March 16, 2027. Announcement • Feb 06
Gabriel Holding A/S Maintains earnings guidance for the financial year 2025/2026 Gabriel Holding A/S maintained earnings guidance for the financial year 2025/2026. For the year, the company expects revenue from continuing operations is expected to amount to DKK 510 million - DKK 550 million and a primary profit (EBIT) of DKK 40 million - DKK 50 million. Following the first quarter, expectations for the full year are maintained. Announcement • Jan 30
Gabriel Holding A/S Announces Board Changes Gabriel Holding A/S announced that Board of Directors has constituted itself with Søren Mygind Eskildsen as Chair and Randi Toftlund Pedersen as Vice-Chair. Announcement • Sep 24
Gabriel Holding A/S Chairman Jørgen Kjær Jacobsen to Step Down in December 12, 2024 Gabriel Holding A/S announced that Chairman of the Board, Jørgen Kjær Jacobsen, who turns 72 in September 2024, has informed the board that he will not seek re-election at the company's ordinary general meeting on December 12, 2024. Jørgen Kjær Jacobsen has been the chairman of the board of Gabriel Holding A/S since December 2010, when he was elected to the board. Jørgen Kjær Jacobsen was hired in 1983 as sales director at Gabriel, where he was responsible for the company's sales. In 1985, he took over the position of CEO. He held this position until 2010, when he left the company's daily management, was elected to the board, and appointed chairman of the board.
Over the 41 years Jørgen has served as both director and chairman, the group has evolved from a smaller Danish textile company to a publicly traded, globally represented, and recognized modern design and production company, founded and headquartered in Aalborg since 1851. The current board believes that continuity in experience and competence is ensured within the board to solidly address the upcoming change in the chairman position. Reported Earnings • Aug 30
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: kr.230.9m (up 3.5% from 3Q 2023). Net income: kr.3.40m (up kr.8.95m from 3Q 2023). Profit margin: 1.5% (up from net loss in 3Q 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 43 percentage points per year, which is a significant difference in performance. Reported Earnings • May 06
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr.241.7m (down 3.5% from 2Q 2023). Net income: kr.4.50m (down 32% from 2Q 2023). Profit margin: 1.9% (down from 2.7% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 09
First quarter 2024 earnings released First quarter 2024 results: Revenue: kr.227.7m (down 5.7% from 1Q 2023). Net loss: kr.4.20m (down 282% from profit in 1Q 2023). Announcement • Feb 08
Gabriel Holding A/S Provides Earnings Guidance for the Full Year 2023/24 Gabriel Holding A/S provided earnings guidance for the full year 2023/24. For the year, the company expects revenue will be of the order of DKK 850 million – DKK 900 million. Board Change • Jan 24
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Vice-Chairman Soren Eskildsen was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 14
Gabriel Holding A/S Resolves Not to Pay Out Dividend for 2022/23 Gabriel Holding A/S at the annual general meeting resolved not to pay out dividend for 2022/23. Announcement • Nov 17
Gabriel Holding A/S Provides Earnings Guidance of the Financial Year 2024 Gabriel Holding A/S provides earnings guidance of the financial year 2024. The company expects revenue of DKK 850 – 900 million, a revenue decrease of 3 – 9%. Adaptation of the Group’s cost base will continue and operating profit (EBIT) of DKK 0 – 10 million is expected for the 2023/24 financial year. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €45.20, the stock trades at a trailing P/E ratio of 69.1x. Average trailing P/E is 17x in the Luxury industry in Germany. Total loss to shareholders of 45% over the past three years. New Risk • Aug 24
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.3m (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (€91.3m market cap, or US$98.8m). Announcement • Aug 24
Gabriel Holding A/S Revises Group Earnings Guidance for the Full Financial Year 2022/2023 Gabriel Holding A/S revised group earnings guidance for the full financial year 2022/2023. For the year, company management expected revenue in the range of DKK 930 million – DKK 940 million against DKK 950 million – DKK 975 million expected previously and an operating profit (EBIT) of DKK 17 million-DKK 19 million against DKK 20 million-DKK 30 million expected previously. Announcement • Jun 24
Gabriel Holding A/S Provides Earnings Guidance for the Full Financial Year 2022/2023 Gabriel Holding A/S provided earnings guidance for the full financial year 2022/2023. For the year, company management expected revenue in the range of DKK 950 million – 1,050 million (DKK 1,065 million in 2021/2022) and an operating profit (EBIT) of DKK 35 million-50 million (DKK 64,9 million in 2021/2022). Reported Earnings • Apr 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: kr.250.5m (down 9.2% from 2Q 2022). Net income: kr.6.60m (down 65% from 2Q 2022). Profit margin: 2.6% (down from 6.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Gabriel Holding A/S Provides Earnings Guidance for the Year 2023 Gabriel Holding A/S provided earnings guidance for the year 2023. For the year, the company expects revenue of the order of DKK 1,000 million - DKK 1,100 million and operating profit (EBIT) of the order of DKK 50 million - DKK 60 million. Announcement • Dec 16
Gabriel Holding A/S Approves Dividend for 2022 Gabriel Holding A/S approves dividend of DKK 10.75 per DKK 20 share at its Annual General Meeting held on Dec. 15, 2022. Upcoming Dividend • Dec 09
Upcoming dividend of kr.10.75 per share Eligible shareholders must have bought the stock before 16 December 2022. Payment date: 20 December 2022. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (2.3%). Reported Earnings • Dec 08
Full year 2022 earnings released: EPS: kr.30.77 (vs kr.24.43 in FY 2021) Full year 2022 results: EPS: kr.30.77 (up from kr.24.43 in FY 2021). Revenue: kr.1.07b (up 32% from FY 2021). Net income: kr.58.2m (up 26% from FY 2021). Profit margin: 5.5% (down from 5.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Employee Representative Director Rikke Jensen was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Gabriel Holding A/S Provides Earnings Guidance for the Year 2022/23 Gabriel Holding A/S announced that the management expects revenue of the order of DKK 1,000 million - DKK 1,100 million and operating profit (EBIT) of the order of DKK 50 million - DKK 60 million or the Year 2022/23. Reported Earnings • Aug 27
Third quarter 2022 earnings released: EPS: kr.8.73 (vs kr.4.64 in 3Q 2021) Third quarter 2022 results: EPS: kr.8.73 (up from kr.4.64 in 3Q 2021). Revenue: kr.289.9m (up 46% from 3Q 2021). Net income: kr.16.5m (up 88% from 3Q 2021). Profit margin: 5.7% (up from 4.4% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Aug 26
Gabriel Holding A/S Revises Earnings Guidance for the Financial Year 2021/22 Gabriel Holding A/S revised earnings guidance for the financial year 2021/22. For the year, the company after nine months, expectations are for revenue of the order of DKK 1,060 million and operating profit (EBIT) of the order of DKK 73 million. The previous expectations were for revenue of the order of DKK 990 million to 1,020 million (DKK 809.7 million in 2020/21) and operating profit (EBIT) of the order of DKK 73 million to 78 million (DKK 58.6 million in 2020/21). Reported Earnings • May 15
Second quarter 2022 earnings released: EPS: kr.40.10 (vs kr.6.77 in 2Q 2021) Second quarter 2022 results: EPS: kr.40.10 (up from kr.6.77 in 2Q 2021). Revenue: kr.276.1m (up 37% from 2Q 2021). Net income: kr.19.0m (up 48% from 2Q 2021). Profit margin: 6.9% (up from 6.3% in 2Q 2021). The increase in margin was driven by higher revenue. Announcement • May 13
Gabriel Holding A/S Provides Revenue Guidance for the Second Half-Year of 2022 Gabriel Holding A/S provided revenue guidance for the second half-year of 2022. The expectation for the second half-year is thus revenue of DKK 467 million to DKK 497 million compared to DKK 422 million last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director Pernille Fabricius was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 12
Gabriel Holding A/S Provides Earnings Guidance for the First Quarter and First Half of the Fiscal Year 2022 Gabriel Holding A/S provided earnings guidance for the first quarter and first half of the fiscal year 2022. For the first quarter, the company expected revenue of the order of DKK 930 million - DKK 960 million and an operating profit (EBIT) in the range of DKK 67 million - DKK 73 million.For the first half, the company revenue is expected to be in the range of DKK 990 million - DKK 1,020 million (DKK 809.7 million in 2020/21) and an operating profit (EBIT) of DKK 73 million - DKK 78 million (DKK 58,6 million in 2020/21). This corresponds to a growth in revenue of 22% - 26% and an increase in operating profit result (EBIT) of 26% - 33 %. Reported Earnings • Feb 16
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: kr.8.83. Revenue: kr.246.9m (up 32% from 1Q 2021). Net income: kr.16.7m (up 81% from 1Q 2021). Profit margin: 6.8% (up from 5.0% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Announcement • Feb 11
Gabriel Holding A/S Revises Earnings Guidance for the Fiscal Year 2022 Gabriel Holding A/S revised earnings guidance for the fiscal year 2022. In the annual report for 2020/21, management stated that it expected operating profit (EBIT) of the order of DKK 64-67 million. After the first quarter, expectations are operating profit (EBIT) of DKK 67-73 million. This is equivalent to an increase of 15-25% in operating profit (EBIT). Announcement • Jan 22
Gabriel Holding A/S Revised Earnings Guidance for the Fiscal Year 2022 Gabriel Holding A/S revised revenue guidance for the fiscal year 2022. In the annual report for 2020-2021, management stated that it expected revenue of the order of DKK 890 million -DKK 930 million. After the first quarter, revenue is expected to be in the range of DKK 930 million - DKK 960 million. Upcoming Dividend • Dec 03
Upcoming dividend of kr.9.75 per share Eligible shareholders must have bought the stock before 10 December 2021. Payment date: 14 December 2021. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (3.4%). Higher than average of industry peers (1.0%). Reported Earnings • Nov 18
Full year 2021 earnings released: EPS kr.24.44 (vs kr.13.23 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: kr.809.7m (up 11% from FY 2020). Net income: kr.46.2m (up 85% from FY 2020). Profit margin: 5.7% (up from 3.4% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Aug 30
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr.198.3m (up 43% from 3Q 2020). Net income: kr.8.77m (up kr.11.0m from 3Q 2020). Profit margin: 4.4% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Reported Earnings • Feb 13
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr.186.6m (down 8.7% from 1Q 2020). Net income: kr.9.20m (down 21% from 1Q 2020). Profit margin: 4.9% (down from 5.7% in 1Q 2020). The decrease in margin was driven by lower revenue. Upcoming Dividend • Dec 04
Upcoming Dividend of kr.5.00 Per Share Will be paid on the 15th of December to those who are registered shareholders by the 11th of December. The trailing yield of 0.7% is below the top quartile of German dividend payers (3.7%), and is lower than industry peers (1.0%). Is New 90 Day High Low • Nov 28
New 90-day high: €95.50 The company is up 3.0% from its price of €93.00 on 28 August 2020. The German market is also up 3.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Luxury industry, which is up 9.0% over the same period. Reported Earnings • Nov 16
Full year 2020 earnings released: EPS kr.13.20 The company reported a soft full year result with weaker earnings and profit margins, although revenues were improved. Full year 2020 results: Revenue: kr.728.1m (up 2.8% from FY 2019). Net income: kr.25.0m (down 49% from FY 2019). Profit margin: 3.4% (down from 6.9% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 27
New 90-day low: €77.00 The company is down 19% from its price of €95.00 on 29 July 2020. The German market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 15% over the same period. Is New 90 Day High Low • Oct 10
New 90-day low: €84.50 The company is down 15% from its price of €99.50 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is up 18% over the same period.