Alefarm Brewing Income Statement

Financials in millions DKK. Fiscal year is January - December.

Millions DKK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	11.53	9.93	8.78	8.53	8.65
Revenue Growth (YoY)	16.15%	13.03%	2.90%	-1.32%	34.52%
Cost of Revenue	7.54	7.28	6.69	7.17	6.03
Gross Profit	3.99	2.64	2.09	1.36	2.62
Selling, General & Admin	3.37	3.84	3.65	4.61	4.41
Operating Expenses	5.17	5.55	5.42	6.34	5.61
Operating Income	-1.19	-2.91	-3.33	-4.97	-2.99
Interest Expense	-0.33	-0.32	-0.21	-0.24	-0.29
Other Non Operating Income (Expenses)	-	-0	-	-	-
EBT Excluding Unusual Items	-1.52	-3.22	-3.53	-5.21	-3.28
Gain (Loss) on Sale of Investments	-	-	-	-0.03	-0.13
Pretax Income	-1.52	-3.22	-3.53	-5.25	-3.4
Income Tax Expense	-	-	-	1.31	-0.75
Net Income	-1.52	-3.22	-3.53	-6.56	-2.65
Net Income to Common	-1.52	-3.22	-3.53	-6.56	-2.65
Shares Outstanding (Basic)	14	14	13	13	13
Shares Outstanding (Diluted)	14	14	13	13	13
Shares Change (YoY)	0.55%	5.62%	-0.11%	-0.01%	1.58%
EPS (Basic)	-0.11	-0.23	-0.26	-0.49	-0.20
EPS (Diluted)	-0.11	-0.23	-0.26	-0.49	-0.20
Free Cash Flow	0.63	-2.31	-1.56	-5.01	-7.33
Free Cash Flow Per Share	0.04	-0.16	-0.12	-0.37	-0.55
Gross Margin	34.58%	26.64%	23.79%	15.99%	30.30%
Operating Margin	-10.30%	-29.27%	-37.88%	-58.27%	-34.52%
Profit Margin	-13.19%	-32.48%	-40.24%	-76.87%	-30.68%
Free Cash Flow Margin	5.49%	-23.26%	-17.72%	-58.71%	-84.73%
EBITDA	0.37	-1.25	-1.66	-3.35	-1.79
EBITDA Margin	3.21%	-12.60%	-18.96%	-39.24%	-20.66%
D&A For EBITDA	1.56	1.66	1.66	1.62	1.2
EBIT	-1.19	-2.91	-3.33	-4.97	-2.99
EBIT Margin	-10.30%	-29.27%	-37.88%	-58.27%	-34.52%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.