Q2 2025: resilience and strategic progress

The Schouw & Co. newsletter: the latest financial updates, sustainability matters and insights.

INTERIM REPORT
Q2 2025: resilience and strategic progress

Schouw & Co. delivered an overall Q2 performance in line with expectations, where portfolio businesses have taken measures to mitigate the effects from changes in trade and export. The second quarter of 2025 saw a significant 60% improvement in cash flow from operations, as well as a slight decrease in revenue and EBITDA.

The second quarter of 2025 has been impacted by alternated trading patterns, in particular, an apparent change in Chinese exports to US markets being redirected to markets in Europe and Asia has influenced market conditions. As a result of this, the portfolio businesses have taken a number of strong measures to mitigate these changes.

Quarterly highlights

• 8.5 DKKbn revenue – a 2% decrease

• 706 DKKm EBITDA – a 4% decrease

• 542 DKKm cash flow from operations – a 60% improvement

• 10.18 DKK earnings per share – a 3% decrease

• 12.5% ROIC excluding goodwill – a 1.3 pp decrease

Read more about the results of the interim report here.

Dansk version af nyheden om delårsrapporten for 2. kvartal af 2025 findes her.

SUSTAINABILITY
Spotlight: solar-powered July

For many, July is synonymous with summer vacation and travelling towards warmer weather. July in Spain brought abundant sunshine, benefitting holidaymakers and enabling the solar park supplying Schouw & Co.’s renewable energy certificates to deliver over 10.000 MWh of green electricity to the grid ☀️

This means that the portfolio businesses will be able to integrate renewable energy certificates into their renewable energy share now and going forward, working towards our target of using 100% renewable electricity in 2030.

BIOMAR
Potential separate listing of BioMar

We have previously announced that we are investigating whether a potential separate listing of BioMar would create value for the shareholders of Schouw & Co. The preparatory work continued as expected during the last quarter, and a banking syndicate comprising of four financial institutions has now been established. If found to be value-creating, the listing of BioMar on the Copenhagen stock exchange can take place in the first half of 2026.

NEWS
Other news from Schouw & Co.

• Borg Automotive has appointed Jesper Møberg as the new Chief Executive Officer, who will drive the next phase of growth and launch a new strategic direction along with new Executive Vice President Ernst Kildegaard.

• Meet Morten Kjær, the CEO of HydraSpecma, in a CEO profile series spotlighting the CEOs behind the Schouw & Co. portfolio companies.

• Learn more about our approach to active ownership, transformation, how we do business, our ownership and our four core principles.  

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