Good results for 2025 given the circumstances and a strong outlook for 2026

Core Insights - Schouw & Co. anticipates revenue in 2025 to reach approximately DKK 34.1 billion, slightly above the previous expectation of DKK 33.7-34.7 billion, with EBITDA projected at DKK 2,875 million, compared to the earlier range of DKK 2,850-3,020 million [1] Group Performance - BioMar, the largest business segment, is expected to generate revenue of DKK 16.5 billion in 2025, exceeding the prior forecast of DKK 16.3-16.7 billion, with an EBITDA of DKK 1,517 million, also above the expected range of DKK 1,490-1,530 million [2] - Other businesses, including GPV, HydraSpecma, Fibertex Personal Care, and Fibertex Nonwovens, reported revenue and EBITDA within or slightly above their guidance ranges, while Borg Automotive faced challenges, resulting in an EBITDA close to zero and a DKK 300 million impairment of goodwill [2] Future Outlook - Schouw & Co. expects to maintain a high level of activity in 2026, with all businesses projected to deliver EBITDA at least at the same level as in 2025, except for Fibertex Personal Care, which benefited from favorable raw material prices in 2025 [3] - The consolidated revenue for 2026 is anticipated to be in the range of DKK 33.0-35.5 billion, with EBITDA expected between DKK 2,900-3,200 million, subject to fluctuations in raw material prices and exchange rates [4] BioMar Listing Consideration - The ongoing evaluation for a potential separate stock exchange listing of BioMar has led to the disclosure of additional details in a company presentation, and the Board has waived the usual 30-day silent period for BioMar prior to the annual report publication [5]