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With roots back to 1851, Gabriel is today a niche company within the global furniture industry, which throughout the value chain, from idea to furniture user, develops, manufactures and sells furniture fabrics, components, upholstered surfaces and related products and services, through its business areas Fabrics, FurnMaster, SampleMaster and Screen Solutions. Gabriel sells B2B, and is growing with the largest market participants, working closely with leading international manufacturers and major users of upholstered furniture, seats and upholstered surfaces.
Udsigt til en negativ åbning i Europa fra morgenstunden på fortsat høje renter. Fokus på Novo Nordisk (Deutsche Bank sænker kursmål). Gæst i studiet her til morgen er CEO Søren Gleie fra Trophy Games, der bl.a. vil tale om opkøbet af Playrion.
Udsigt til en svag positiv åbning i Europa fra morgenstunden efter rekord i Nasdaq. Fokus på Genmab (data i lymfekræft) og TORM (Oaktree sælger ud). Gæst i studiet her til morgen er CEO Andreas Aaen fra Symmetry Invest, der bl.a. vil tale om JDC Group.
In late August, we had the pleasure of hosting an event with Gabriel, where CEO Anders Hedegaard Petersen presented the Q3 2025/26 financial results and discussed the latest developments in both continuing and discontinued operations.
Q3 confirms that Gabriel's continuing textile business is delivering margin progression in a market that has yet to turn. Revenue landed marginally below our estimate, but the gross margin reached the highest level of the year and EBIT, PTP and EPS all came in above our estimates. Management narrowed full-year guidance to revenue of MDKK 528-532 and EBIT of MDKK 44-46, and we trim our estimates while staying at the top of the guided revenue range. More significantly, the completed European sale at an equity value of MDKK 76.9 came in well above our previous assumption, which we view positively as it removes uncertainty and strengthens the group's capital structure. Our DCF points to DKK 278 and we retain a target price of DKK 270, but with the share price at DKK 238 we upgrade our recommendation to "Accumulate" from "Reduce".
