Finland · Delayed Price · Currency is EUR Duell Oyj Earnings Call Transcripts
Fiscal Year 2026
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FY net sales were EUR 124m and adjusted EBITA EUR 2m, with Q4 profitability pressured by product mix and logistics costs. Inventory reduction improved cash and leverage; FY2027 guidance is EUR 122m–EUR 130m sales and EUR 3m–EUR 5m adjusted EBITA.
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Q3 saw 3.5% sales growth and stable margins, with strong Nordic performance and improved inventory efficiency. Guidance for the year remains unchanged amid market uncertainty, with France still lagging and non-recurring costs impacting results.
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First half saw declines in sales and profitability due to weak winter and France performance, but operational improvements and inventory management led to better cash flow. Guidance was lowered, with non-recurring costs expected from inventory cleanup and supply chain changes.
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Q1 2026 saw an 11.7% sales decline due to a late winter and French brand transitions, but gross margin and cost control remained solid. Central Europe and online sales grew, while the Performance Uplift program and warehouse consolidation aim to boost efficiency.
Fiscal Year 2025
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Net sales grew 1.6% to EUR 126.6 million, driven by Central Europe and e-commerce, but profitability declined due to weak French performance, higher bad debts, and inventory challenges. FY2026 guidance expects flat sales and EBITDA, with a new performance uplift project underway.
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Q3 saw marginal sales growth and strong Central European performance, but profitability declined due to weak Nordic demand, lower consumer confidence, and unfavorable weather. Guidance was revised downward, with a renewed focus on profitability and working capital.
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Net sales and adjusted EBITDA grew in H1, driven by Central Europe and online channels, despite weak winter conditions in the Nordics. Efficiency programs improved margins and working capital, and guidance for fiscal 2025 remains unchanged.
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Net sales grew 4.7% year-over-year to EUR 28.3 million, with profitability and gross margin both improving. Central Europe drove growth, especially in motorcycle gear, while inventory turnover and financial position strengthened.
Fiscal Year 2024
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Strong growth in Central Europe and improved profitability drove a 5% rise in net sales to EUR 124.7 million, with adjusted EBITDA at EUR 7.2 million. Financial position strengthened, and guidance for FY2025 anticipates stable or higher sales and further EBITDA improvement.