Interim Report Q3 2025

Core Insights - AO achieved revenue of DKK 1,465.2 million in Q3 2025, reflecting a 10.5% increase compared to Q3 2024 [2][3] - The company reported an EBITDA of DKK 98.2 million, with an EBITDA margin of 6.7% [4] - EBT for the quarter was DKK 51.9 million, corresponding to a margin of 3.5% [5] Financial Performance - Net Revenue for Q3 2025 was DKK 1,465.2 million, up from DKK 1,326.1 million in Q3 2024 [2] - Gross Margin increased to DKK 341.3 million in Q3 2025 from DKK 303.1 million in Q3 2024, with a gross margin percentage of 23.3% [2] - Year-to-date revenue reached DKK 4,448.0 million, compared to DKK 3,878.9 million in the previous year [2] Growth Metrics - Organic revenue growth, adjusted for acquisitions, was 8.8% for the quarter [1] - The company continued to gain market share in the B2B segment, while the B2C segment experienced positive growth for the eighth consecutive quarter [3] Guidance for 2025 - Revenue for 2025 is now expected to be in the range of DKK 6,000–6,100 million, an increase from the previous guidance of DKK 5,950–6,100 million [6] - EBITDA guidance for 2025 is narrowed to DKK 420–440 million, while EBT is expected to be in the range of DKK 245–265 million [6]