Interim Report for Q1 2025
Company Announcement No. 5 - 2025
to Nasdaq Copenhagen
2025.04.30
Interim Report for Q1 2025
In the first quarter of 2025, AO achieved revenue of DKK 1,486.1 million, EBITDA of DKK 93.5 million, and EBT of DKK 50.0 million. The results were in line with expectations, and the 2025 guidance remains unchanged.
Overall market activity was higher than last year, contributing to organic growth in both segments, in addition to growth from acquisitions.
| Financial highlights (DKKm) | Q1 2025 | Q1 2024 | ||||
| Net revenue | 1,486.1 | 1,250.9 | ||||
| Gross margin | 355.8 | 292.9 | ||||
EBITDA | 93.5 | 68.2 | ||||
| EBT | 50.0 | 34.2 | ||||
| Key ratios (%) | ||||||
| Revenue growth rate | 18.8 | (10.9) | ||||
| Gross margin | 23.9 | 23.4 | ||||
| EBITDA margin | 6.3 | 5.5 | ||||
| EBT margin | 3.3 | 2.7 |
Revenue
AO delivered satisfactory growth in the B2B segment, with project sales benefiting from higher activity levels compared to Q1 2024. The B2C segment also continued its positive trajectory, recording significant growth, particularly through acquisitions. Q1 revenue totalled DKK 1,486.1 million.
EBITDA
EBITDA amounted to DKK 93.5m, equivalent to an EBITDA margin of 6.3%.
EBT
EBT amounted to DKK 50.0m, corresponding to a margin of 3.3%.
Guidance for 2025
The guidance for 2025 remains unchanged.
Revenue is expected to be in the range of DKK 5,800–6,100 million.
EBITDA is expected to range between DKK 410–450 million.
Profit before tax (EBT) is expected to be between DKK 235–275 million.
This guidance is based on the financial outlook assumptions detailed in the annual report.
Webcast
The Interim Report for Q1 2025 will be presented in English via webcast on May 1, 2025, at 13:00 CET. It is possible to participate in the webcast from the Investor Relations page on AO.dk or from the link below:
https://ao.eventcdn.net/events/interim-report-q1-2025
For further information, please contact:
CEO Niels A. Johansen
CFO/Deputy CEO Per Toelstang
Brødrene A & O Johansen A/S
Rørvang 3
DK- 2620 Albertslund
Denmark
Tlf.: +45 70 28 00 00
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