Schouw & Co A/S

F:5RF

Outlook raised: Schouw & Co. lifted full-year group guidance, now expecting revenue of DKK 34.8 billion to DKK 37.1 billion and EBITDA of DKK 3.15 billion to DKK 3.35 billion.

Broad strength: Management said momentum was positive across nearly all portfolio companies, supported by strong order books, solid market positions, and continued operational efficiency.

BioMar update: BioMar posted record Q2 feed volumes and raised its own guidance after stronger shrimp feed demand, especially in Ecuador, plus continued focus on alternative raw materials.

GPV momentum: GPV saw higher activity and a 20% increase in EBITDA, with management saying most of the improvement came from footprint optimization and better factory utilization rather than pricing.

Portfolio execution: HydraSpecma, Borg Automotive, Fibertex Personal Care, and Fibertex Nonwovens all improved profitability and/or raised guidance, with several businesses benefiting from pricing discipline, restructuring, or stronger demand.

Capital allocation: Management said future capital deployment will likely be a mix of bolt-on M&A and shareholder returns, while also keeping pricing discipline on acquisitions.

Spectre deal: Schouw expects the new Spectre acquisition to close in late Q3 and contribute DKK 300 million to DKK 400 million of revenue in 2026, with no material EBITDA contribution after acquisition-related effects.