TCM Group A/S
CSE:TCM
TCM Group A/S
TCM Group AS engages in the manufacture of kitchens and furniture for bathrooms and storage. The product offering includes kitchen, bathroom and storage solutions. The firm pursues a multi-brand strategy, under which the main brand is Svane Kokkenet and the secondary brands are Tvis Kokkener, Nettoline, kitchn.dk and private label. Products are mainly marketed through a network of franchise stores and independent kitchen retailers.
Revenue Growth: TCM Group delivered Q2 revenue of DKK 349 million, up 5% year-on-year, with organic growth over 3%.
Margin Improvement: Gross margin increased by more than 2 percentage points to 23.7%, supported by higher selling prices and stable input costs.
Profitability: Adjusted EBIT rose 20% to DKK 34 million, with the EBIT margin improving to 9.6%.
Guidance Narrowed: Full-year 2025 revenue and EBIT guidance ranges were narrowed, mainly due to slower B2C order intake in the latter half of Q2.
Celebert Acquisition: TCM will acquire full ownership of Celebert, expecting to close late 2025; the purchase price is estimated between DKK 60–85 million.
B2C & B2B Trends: B2C orders grew, though at a slower pace, while B2B faced headwinds. Management noted a broad-based slowdown in consumer activity beginning earlier than usual.
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