{"success":true,"data":{"pressRelease":{"id":"16452","rtpr_id":"nWkrVT73l","ticker":"HUSCO","exchange":"Nasdaq Copenhagen","all_tickers":["HUSCO"],"title":"HusCompagniet delivers good performance in winter-affected Q1 2026 and confirms guidance","author":"Cision","published_at":"2026-05-01T06:00:11.092Z","article_body":"Huscompagniet A/S\nCompany Announcement 10/2026\n\nTrading Statement for 1 January – 31 March 2026\n\nHusCompagniet increased revenue by 25% to DKK 791 million in Q1 2026 driven by\nall segments following execution on the solid sales progress in the first\nthree quarters of 2025 and a good activity level. As expected, the gross\nmargin decreased in Q1 2026 and came to 16.4% against 19.5% in the comparison\nperiod. The lower margin across segments was impacted by the three challenged\nB2B projects and in Detached accentuated by the effects of the coldest January\nin 16 years in Denmark. EBITDA increased by 9% to DKK 18 million for a margin\nof 2.3% compared to DKK 17 million and 2.6% in Q1 2025. EBIT came to DKK 5\nmillion, down from DKK 6 million in the comparison period.\n\nGroup CEO of HusCompagniet, Martin Ravn-Nielsen says: “We generated revenue\ngrowth and earnings in line with expectations reflecting the continued\nexecution on our solid order backlog. In Detached, the dampened sales trend\ncontinued into early 2026 with signs of improvement towards the end of the\nquarter and into April as leads and sales picked up. In an environment with\nlow visibility, we are continuously improving the customer experience for our\nprivate housebuilders with new offerings and showrooms to leverage the\nopportunities we continue to see in a volatile market.”\n\nQ1 2026 sales were 44% lower than last year at 198 houses (units), driven\nmainly by decline in Semi-detached and Wooden houses against a comparison\nperiod, which was positively affected by large orders in these segments.\nConsumer cautiousness impacted Q1 2026 sales in Detached, which saw a positive\ntrend in March and into April. Deliveries totalled 182 houses (units), a\ndecline of 7% reflecting moderate increases in Detached and Wooden houses with\nfewer deliveries in Semi-detached. In the comparison period, 356 houses\n(units) were sold, and 195 houses (units) were delivered. At end-March 2026,\nthe order backlog amounted to DKK 2.1 billion, on par with the order backlog\nat end-March 2025.\n\n“We continued to execute on the revised strategy for our Semi-detached\nbusiness with a view to return to the core and deliver improved performance\nand profitability ahead of growth, which is expected to entail lower sales in\n2026. In line with this approach, we were pleased to divest our prefabrication\nfactory in Esbjerg in April to sharpen our asset-light profile, focus on our\ncore competencies and deliver high-quality houses in sustainable collaboration\nwith our partners,” says Martin Ravn-Nielsen.\n\nOn 10 April 2026, HusCompagniet entered into an unconditional agreement for\nthe divestment of its prefabrication factory in Esbjerg to existing supplier\nNordic Wood Industries for DKK 55 million (Enterprise Value) on a cash and\ndebt-free basis, cf. company announcement 8/2026. Based on preliminary\nfigures, the transaction is expected to reduce net interest-bearing debt by\nDKK 56 million in 2026 and entail an accounting loss of DKK 68 million\nrecognised as special items in Q2 2026. The parties have entered into a\nthree-year strategic partnership agreement under which Nordic Wood Industries\nwill supply all prefabricated wooden elements and wooden roof cassettes to\nHusCompagniet’s activities in Denmark.\n\nSelected key highlights Q1 2026\n\n DKKm Q1 2026 Q1 2025 Change Q1/Q1 FY 2025 \n Houses sold (units) 198 356 -44% 1,509 \n Houses delivered (units) 182 195 -7% 1,031 \n Order backlog, net 2,102 2,091 1% 2,282 \n Income statement \n Revenue 791 635 25% 2,957 \n Gross profit 130 124 5% 488 \n EBITDA 18 17 9% 61 \n EBIT 5 6 -14% 15 \n Balance sheet  \n Contract assets, net 403 403 0 344 \n Inventories 280 291 -11 291 \n Net interest-bearing debt, NIBD 308 287 21 197 \n Financial ratios \n Gross margin 16.4% 19.5% -3.1ppt. 16.5% \n EBITDA margin 2.3% 2.6% -0.3ppt. 2.1% \n EBIT margin 0.7% 1.0% -0.3ppt. 0.5% \n NIBD/LTM EBITDA 4.9x 2.9x -2.0x 3.2x \n Free cash flow -97 -14 -83 102 \n Available cash incl. revolving credit facility 523 529 -6 627 \n FTE end of period 482 455 27 508 \n \n\nHighlights\n* HusCompagniet’s Q1 2026 sales declined 44% across segments to 198 houses\n(units) from Q1 2025. The comparison period was positively affected by\nimproved market sentiment impacting Detached and supported by a Semi-detached\norder of 96 housing units on the Danish island of Bornholm as well as a B2B\ncontract in Sweden of 15 units.  \n* Q1 2026 revenue increased by 25% to DKK 791 million driven by all segments\nfollowing the sales pick-up in the first three quarters of 2025 and higher\naverage sales prices in the Detached and Wooden houses businesses. Deliveries\ndecreased by 7% to 182 driven by the Semi-detached business, which was\npartially offset by moderate increases in the Detached and Wooden houses\nsegments. Overall, the unusually cold winter season impacted timing of project\ndeliveries and initiation of work.\n* Gross profit increased by 5% to DKK 130 million attributable to the Detached\nand Wooden houses businesses. The gross margin came to 16.4% in Q1 2026\nagainst 19.5% in the comparison period. As expected, the decline was driven by\nall segments and impacted by the cold winter causing increased construction\ncosts as well as the impact of three challenged B2B projects. The cold winter\nmay also impact Q2 and Q3 2026 developments in the Danish businesses.\n* EBITDA came to DKK 18 million for a margin of 2.3% compared to DKK 17\nmillion and 2.6% in Q1 2025, reflecting the development in gross profit and\npartly countered by a lower SG&A ratio due to strong cost focus. EBIT was\nstable at DKK 5 million against DKK 6 million in Q1 2025.\n* As of 31 March 2026, the order backlog (net) increased slightly by 1% to DKK\n2,102 million compared to DKK 2,091 million at end-Q1 2025 driven by\nSemi-detached.\n* As of 31 March 2026, net interest-bearing debt (NIBD) came to DKK 308\nmillion compared to DKK 287 million on 31 March 2025 and DKK 197 million at\nyear-end 2025. The leverage ratio (NIBD/LTM EBITDA) was 4.9x compared to 2.9x\nat end-Q1 2025 and 3.2x at year-end 2025, impacted by lower LTM EBITDA, timing\nof Semi-detached deliveries and increased working capital. Based on\npreliminary figures, the divestment of HusCompagniet’s prefabrication\nfactory in April will reduce NIBD by DKK 56 million in 2026 and contribute to\na reduction of the leverage ratio.\n* Inventories amounted to DKK 280 million, a decrease from DKK 291 million in\nthe comparison period and at year-end 2025.\n* HusCompagniet closely monitors the development of the crisis in the Middle\nEast and takes the necessary commercial steps to alleviate its potential\nimpact on raw material prices, inflation and consumer sentiment.\nQ1 2026 segmental development\n\n Denmark Sweden Group \n Detached Semi-detached Wooden Total segments \n DKKm Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 \n Houses sold (units) 175 203 6 120 17 33 198 356 \n Houses delivered (units) 153 150 10 29 19 16 182 195 \n Houses delivered on own land (%) 2.0% 8.0% 0.0% 6.9% n.a. n.a. 1.8% 7.8% \n Average selling price (ASP) 2.9 2.7 1.3 1.6 1.4 1.2 n.a. n.a. \n Order backlog, net 1,236 1,304 763 659 103 128 2,102 2,091 \n Income statement \n Revenue 573 483 186 130 31 22 791 635 \n Gross profit 97 94 20 19 13 11 130 124 \n EBITDA 15 17 -1 -3 4 3 18 17 \n EBIT 7 10 -3 -5 1 1 5 6 \n Financial ratios \n Revenue growth 19% 36% 43% 29% 41% -15% 25% 31% \n Gross margin 17.0% 19.6% 10.9% 14.6% 39.9% 47.9% 16.4% 19.5% \n EBITDA margin 2.7% 3.4% -0.6% -2.2% 11.7% 13.4% 2.3% 2.6% \n EBIT margin 1.2% 1.9% -1.7% -3.2% 4.7% 6.2% 0.7% 1.0% \n \n\nDetached houses\n* In the Detached business, Q1 2026 sales came to 175 houses (units), which\nwas slightly lower than expected and a 14% decrease from the comparison\nperiod. The dampened sales trend from end-2025 continued in early 2026 with\nsigns of improvement towards the end of the quarter and into April based on\nmore leads and higher sales.\n* Revenue came to DKK 573 million, a 19% increase from the comparison period\ndriven by execution on the backlog from higher sales in the first three\nquarters of 2025 and a higher average selling price of DKK 2.9 million with\npositive contributions across the country compared to DKK 2.7 million in Q1\n2025. Despite harsh winter conditions, deliveries came to 153 houses (units),\nlargely on par with 150 units in Q1 2025.\n* Q1 2026 gross profit increased by 3% to DKK 97 million for a margin of 17.0%\nagainst DKK 94 million and 19.6% in the comparison period. The expected lower\nmargin was further accentuated by increased construction costs as well as\npostponed deliveries and initiation of work due to the cold winter. Costs\nrelated to winter measures may also impact Q2 and Q3 2026 developments.\n* EBITDA amounted to DKK 15 million for a margin of 2.7% in Q1 2026, down from\nDKK 17 million and 3.4% in the comparison period, impacted by the gross margin\ndevelopment. EBIT came to DKK 7 million against DKK 10 million in Q1 2025.\n* At end-Q1 2026, the order backlog (net) amounted DKK 1,236 million, a 5%\ndecrease from end-Q1 2025.\n* In April 2026, the Detached business sold 75 houses (units) and delivered\n49, according to preliminary figures. In the comparison month of 2025, 75\nhouses (units) were sold, and 33 were delivered.\nSemi-detached houses\n* Semi-detached sales were lower as expected and in line with the revised\nstrategy in the business unit, amounting to 6 houses (units) in Q1 2026\nagainst 120 in the comparison period, which included one single order of 96\nhousing units.\n* Revenue amounted to DKK 186 million, a 43% increase against the comparison\nperiod driven by contribution from work-in-progress on current projects. 10\nhousing units were delivered in Q1 2026 compared to 29 units in the same\nperiod last year, a development impacted by the effects of the unusually cold\nwinter season. The average selling price (ASP) amounted to DKK 1.3 million\ncompared to DKK 1.6 million in Q1 2025.\n* Gross profit increased slightly to DKK 20 million from DKK 19 million last\nyear. The Q1 2026 gross margin was 10.9% against 14.6% last year, impacted by\na changed portfolio mix, timing of deliveries and continued effects from the\nthree challenged B2B projects.\n* EBITDA amounted to negative DKK 1 million, up from negative DKK 3 million in\nQ1 2025. EBIT was negative DKK 3 million and improved slightly from negative 5\nmillion in the comparison period.\n* At end-Q1 2026, the order backlog (net) amounted to DKK 763 million, a 16%\nincrease from end-Q1 2025.\n* In April 2026, the Semi-detached business sold 3 houses (units) and\ndelivered 32 houses (units), according to preliminary figures. In April last\nyear, sales came to 4 units with no deliveries.\n Overview of selected Semi-detached projects Announced Units conditional* Units unconditional** Units delivered Expected final delivery \n Location Developer \n Oksbøl Boligselskabet Filsø Q4 2025 0 23 0 2027 \n Gladsaxe E. Kornerup Q3 2025 0 156 0 2028 \n Ringsted Velkomn Q2 2025 0 191 0 2027 \n Rønne Æbleløkkerne Q1 2025 0 96 0 2026 \n Haslev Velkomn Q3 2024 0 153 0 2026 \n Viby Sjælland NREP Q4 2023 0 136 0 2027 \n Tingbjerg NREP (stage 1 of 2) Q3 2022 Up to 43 128 30 2028 \n Tingbjerg NREP (stage 2 of 2) Q3 2022 Up to 203 0 0 2030 \n * Not sales registered and not included in order backlog until conditions are met \n ** Included in net order backlog until delivery \n\nWooden houses\n* The Wooden houses business in Sweden sold 17 houses (units) in Q1 2026, a\n48% decrease from the comparison period, which was positively affected by a\nB2B contract of 15 units.\n* Revenue increased to DKK 31 million, up 41% from Q1 2025 following delivery\nof 19 houses (units) at an ASP of DKK 1.4 million against 16 houses (units)\nand an ASP of DKK 1.2 million in the comparison period.\n* Gross profit was DKK 13 million, corresponding to a margin of 39.9% compared\nto DKK 11 million and 47.9% in Q1 2025, which was positively impacted by sales\nof land.\n* EBITDA amounted to DKK 4 million for a margin of 11.7% compared to DKK 3\nmillion and 13.4% in the same period last year. Accordingly, EBIT was\nunchanged at DKK 1 million.\n* At end-Q1 2026, the order backlog (net) stood at DKK 103 million, compared\nto DKK 128 million on 31 March 2025.\n* According to preliminary figures, the Wooden houses business sold 9 and\ndelivered 7 houses (units) in April 2026, compared to 8 and 8 respectively, in\nApril 2025.\nOutlook for 2026\n\nThe full-year 2026 guidance issued on 6 March 2026 is reiterated:\n* Revenue is expected to be DKK 3.0-3.3bn\n* EBITDA before special items is expected to be DKK 70-130m\n* Operating profit (EBIT) before special items is expected to be DKK 15-75m\nBased on preliminary figures, the divestment of HusCompagniet’s\nprefabrication factory in Esbjerg to Nordic Wood Industries completed on 10\nApril 2026 is expected to entail an accounting loss of DKK 68 million\nrecognised as special items in Q2 2026.\n\nThe guidance for 2026 is based on expected deliveries of 1,000-1,300 houses.\nThe outlook for 2026 is positively affected by the higher order backlog,\nwhereas continued geopolitical tension and conflicts have a negative impact on\nmarket dynamics. Low visibility, continued market volatility and price\nsensitivity as well as three challenged B2B projects affecting profitability\nuntil the first half of 2027 have an unfavourable impact on earnings\nexpectations for 2026. The guidance assumes no severe deterioration of the\ngeopolitical tension in the Middle East causing disruption of supply chains or\nsignificantly increased raw material prices from Q1 2026 levels.\n\nWebcast and conference call\n\nHusCompagniet will host a conference call for investors and analysts today, 1\nMay 2026, at 10:00 (CEST). The conference call and presentation will be\navailable from HusCompagniet’s investor website.\n\nConference call dial-in numbers for investors and analysts:\n\n Participant dial-in: \n Denmark: +45 78 76 84 90 \n France: +33 1 81 22 12 59 \n Germany: +49 30 21 78 93 27 \n Sweden: +46 31 311 50 03 \n United Kingdom: +44 20 3769 6819 \n United States: +1 646 787 0157 \n PIN: 649396 \n\nWebcast link:\nhttps://huscompagniet.nexahub.io/events/trading-statement-first-three-months-of-2026\n\nFor additional information, please contact:\n\nAllan Auning-Hansen,\nGroup CFO                               +45 30\n10 25 00\n\nForward-looking statement\nThis announcement includes forward-looking statements on various matters, such\nas expected earnings and future strategies and expansion plans. Such\nstatements are uncertain and involve various risks, as many factors, some of\nwhich are beyond our control, may result in actual developments differing\nconsiderably from the expectations set out. Such factors include, but are not\nlimited to, general economic and business conditions, exchange rate and\ninterest rate fluctuations, the demand for our services and competition in the\nmarket.\n\n\nhttp://publish.ne.cision.com//Release/ViewReleaseHtml/57D1DF619E649CBDE0C856B0705FC7D6\n\n10 HusCompagniet delivers good performance in winter-affected Q1 2026 and\nconfirms guidance (https://mb.cision.com/Main/21145/4343377/4072003.pdf)\n\n\n\n(c) Copyright Waymaker BIT News - Cision 2026","article_body_html":"","raw_payload":{"data":{"id":"nWkrVT73l","title":"HusCompagniet delivers good performance in winter-affected Q1 2026 and confirms guidance","author":"Cision","ticker":"HUSCO","created":"2026-05-01T06:00:11.092Z","tickers":["HUSCO"],"exchange":"Nasdaq Copenhagen","article_body":"Huscompagniet A/S\nCompany Announcement 10/2026\n\nTrading Statement for 1 January – 31 March 2026\n\nHusCompagniet increased revenue by 25% to DKK 791 million in Q1 2026 driven by\nall segments following execution on the solid sales progress in the first\nthree quarters of 2025 and a good activity level. As expected, the gross\nmargin decreased in Q1 2026 and came to 16.4% against 19.5% in the comparison\nperiod. The lower margin across segments was impacted by the three challenged\nB2B projects and in Detached accentuated by the effects of the coldest January\nin 16 years in Denmark. EBITDA increased by 9% to DKK 18 million for a margin\nof 2.3% compared to DKK 17 million and 2.6% in Q1 2025. EBIT came to DKK 5\nmillion, down from DKK 6 million in the comparison period.\n\nGroup CEO of HusCompagniet, Martin Ravn-Nielsen says: “We generated revenue\ngrowth and earnings in line with expectations reflecting the continued\nexecution on our solid order backlog. In Detached, the dampened sales trend\ncontinued into early 2026 with signs of improvement towards the end of the\nquarter and into April as leads and sales picked up. In an environment with\nlow visibility, we are continuously improving the customer experience for our\nprivate housebuilders with new offerings and showrooms to leverage the\nopportunities we continue to see in a volatile market.”\n\nQ1 2026 sales were 44% lower than last year at 198 houses (units), driven\nmainly by decline in Semi-detached and Wooden houses against a comparison\nperiod, which was positively affected by large orders in these segments.\nConsumer cautiousness impacted Q1 2026 sales in Detached, which saw a positive\ntrend in March and into April. Deliveries totalled 182 houses (units), a\ndecline of 7% reflecting moderate increases in Detached and Wooden houses with\nfewer deliveries in Semi-detached. In the comparison period, 356 houses\n(units) were sold, and 195 houses (units) were delivered. At end-March 2026,\nthe order backlog amounted to DKK 2.1 billion, on par with the order backlog\nat end-March 2025.\n\n“We continued to execute on the revised strategy for our Semi-detached\nbusiness with a view to return to the core and deliver improved performance\nand profitability ahead of growth, which is expected to entail lower sales in\n2026. In line with this approach, we were pleased to divest our prefabrication\nfactory in Esbjerg in April to sharpen our asset-light profile, focus on our\ncore competencies and deliver high-quality houses in sustainable collaboration\nwith our partners,” says Martin Ravn-Nielsen.\n\nOn 10 April 2026, HusCompagniet entered into an unconditional agreement for\nthe divestment of its prefabrication factory in Esbjerg to existing supplier\nNordic Wood Industries for DKK 55 million (Enterprise Value) on a cash and\ndebt-free basis, cf. company announcement 8/2026. Based on preliminary\nfigures, the transaction is expected to reduce net interest-bearing debt by\nDKK 56 million in 2026 and entail an accounting loss of DKK 68 million\nrecognised as special items in Q2 2026. The parties have entered into a\nthree-year strategic partnership agreement under which Nordic Wood Industries\nwill supply all prefabricated wooden elements and wooden roof cassettes to\nHusCompagniet’s activities in Denmark.\n\nSelected key highlights Q1 2026\n\n DKKm Q1 2026 Q1 2025 Change Q1/Q1 FY 2025 \n Houses sold (units) 198 356 -44% 1,509 \n Houses delivered (units) 182 195 -7% 1,031 \n Order backlog, net 2,102 2,091 1% 2,282 \n Income statement \n Revenue 791 635 25% 2,957 \n Gross profit 130 124 5% 488 \n EBITDA 18 17 9% 61 \n EBIT 5 6 -14% 15 \n Balance sheet  \n Contract assets, net 403 403 0 344 \n Inventories 280 291 -11 291 \n Net interest-bearing debt, NIBD 308 287 21 197 \n Financial ratios \n Gross margin 16.4% 19.5% -3.1ppt. 16.5% \n EBITDA margin 2.3% 2.6% -0.3ppt. 2.1% \n EBIT margin 0.7% 1.0% -0.3ppt. 0.5% \n NIBD/LTM EBITDA 4.9x 2.9x -2.0x 3.2x \n Free cash flow -97 -14 -83 102 \n Available cash incl. revolving credit facility 523 529 -6 627 \n FTE end of period 482 455 27 508 \n \n\nHighlights\n* HusCompagniet’s Q1 2026 sales declined 44% across segments to 198 houses\n(units) from Q1 2025. The comparison period was positively affected by\nimproved market sentiment impacting Detached and supported by a Semi-detached\norder of 96 housing units on the Danish island of Bornholm as well as a B2B\ncontract in Sweden of 15 units.  \n* Q1 2026 revenue increased by 25% to DKK 791 million driven by all segments\nfollowing the sales pick-up in the first three quarters of 2025 and higher\naverage sales prices in the Detached and Wooden houses businesses. Deliveries\ndecreased by 7% to 182 driven by the Semi-detached business, which was\npartially offset by moderate increases in the Detached and Wooden houses\nsegments. Overall, the unusually cold winter season impacted timing of project\ndeliveries and initiation of work.\n* Gross profit increased by 5% to DKK 130 million attributable to the Detached\nand Wooden houses businesses. The gross margin came to 16.4% in Q1 2026\nagainst 19.5% in the comparison period. As expected, the decline was driven by\nall segments and impacted by the cold winter causing increased construction\ncosts as well as the impact of three challenged B2B projects. The cold winter\nmay also impact Q2 and Q3 2026 developments in the Danish businesses.\n* EBITDA came to DKK 18 million for a margin of 2.3% compared to DKK 17\nmillion and 2.6% in Q1 2025, reflecting the development in gross profit and\npartly countered by a lower SG&A ratio due to strong cost focus. EBIT was\nstable at DKK 5 million against DKK 6 million in Q1 2025.\n* As of 31 March 2026, the order backlog (net) increased slightly by 1% to DKK\n2,102 million compared to DKK 2,091 million at end-Q1 2025 driven by\nSemi-detached.\n* As of 31 March 2026, net interest-bearing debt (NIBD) came to DKK 308\nmillion compared to DKK 287 million on 31 March 2025 and DKK 197 million at\nyear-end 2025. The leverage ratio (NIBD/LTM EBITDA) was 4.9x compared to 2.9x\nat end-Q1 2025 and 3.2x at year-end 2025, impacted by lower LTM EBITDA, timing\nof Semi-detached deliveries and increased working capital. Based on\npreliminary figures, the divestment of HusCompagniet’s prefabrication\nfactory in April will reduce NIBD by DKK 56 million in 2026 and contribute to\na reduction of the leverage ratio.\n* Inventories amounted to DKK 280 million, a decrease from DKK 291 million in\nthe comparison period and at year-end 2025.\n* HusCompagniet closely monitors the development of the crisis in the Middle\nEast and takes the necessary commercial steps to alleviate its potential\nimpact on raw material prices, inflation and consumer sentiment.\nQ1 2026 segmental development\n\n Denmark Sweden Group \n Detached Semi-detached Wooden Total segments \n DKKm Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 \n Houses sold (units) 175 203 6 120 17 33 198 356 \n Houses delivered (units) 153 150 10 29 19 16 182 195 \n Houses delivered on own land (%) 2.0% 8.0% 0.0% 6.9% n.a. n.a. 1.8% 7.8% \n Average selling price (ASP) 2.9 2.7 1.3 1.6 1.4 1.2 n.a. n.a. \n Order backlog, net 1,236 1,304 763 659 103 128 2,102 2,091 \n Income statement \n Revenue 573 483 186 130 31 22 791 635 \n Gross profit 97 94 20 19 13 11 130 124 \n EBITDA 15 17 -1 -3 4 3 18 17 \n EBIT 7 10 -3 -5 1 1 5 6 \n Financial ratios \n Revenue growth 19% 36% 43% 29% 41% -15% 25% 31% \n Gross margin 17.0% 19.6% 10.9% 14.6% 39.9% 47.9% 16.4% 19.5% \n EBITDA margin 2.7% 3.4% -0.6% -2.2% 11.7% 13.4% 2.3% 2.6% \n EBIT margin 1.2% 1.9% -1.7% -3.2% 4.7% 6.2% 0.7% 1.0% \n \n\nDetached houses\n* In the Detached business, Q1 2026 sales came to 175 houses (units), which\nwas slightly lower than expected and a 14% decrease from the comparison\nperiod. The dampened sales trend from end-2025 continued in early 2026 with\nsigns of improvement towards the end of the quarter and into April based on\nmore leads and higher sales.\n* Revenue came to DKK 573 million, a 19% increase from the comparison period\ndriven by execution on the backlog from higher sales in the first three\nquarters of 2025 and a higher average selling price of DKK 2.9 million with\npositive contributions across the country compared to DKK 2.7 million in Q1\n2025. Despite harsh winter conditions, deliveries came to 153 houses (units),\nlargely on par with 150 units in Q1 2025.\n* Q1 2026 gross profit increased by 3% to DKK 97 million for a margin of 17.0%\nagainst DKK 94 million and 19.6% in the comparison period. The expected lower\nmargin was further accentuated by increased construction costs as well as\npostponed deliveries and initiation of work due to the cold winter. Costs\nrelated to winter measures may also impact Q2 and Q3 2026 developments.\n* EBITDA amounted to DKK 15 million for a margin of 2.7% in Q1 2026, down from\nDKK 17 million and 3.4% in the comparison period, impacted by the gross margin\ndevelopment. EBIT came to DKK 7 million against DKK 10 million in Q1 2025.\n* At end-Q1 2026, the order backlog (net) amounted DKK 1,236 million, a 5%\ndecrease from end-Q1 2025.\n* In April 2026, the Detached business sold 75 houses (units) and delivered\n49, according to preliminary figures. In the comparison month of 2025, 75\nhouses (units) were sold, and 33 were delivered.\nSemi-detached houses\n* Semi-detached sales were lower as expected and in line with the revised\nstrategy in the business unit, amounting to 6 houses (units) in Q1 2026\nagainst 120 in the comparison period, which included one single order of 96\nhousing units.\n* Revenue amounted to DKK 186 million, a 43% increase against the comparison\nperiod driven by contribution from work-in-progress on current projects. 10\nhousing units were delivered in Q1 2026 compared to 29 units in the same\nperiod last year, a development impacted by the effects of the unusually cold\nwinter season. The average selling price (ASP) amounted to DKK 1.3 million\ncompared to DKK 1.6 million in Q1 2025.\n* Gross profit increased slightly to DKK 20 million from DKK 19 million last\nyear. The Q1 2026 gross margin was 10.9% against 14.6% last year, impacted by\na changed portfolio mix, timing of deliveries and continued effects from the\nthree challenged B2B projects.\n* EBITDA amounted to negative DKK 1 million, up from negative DKK 3 million in\nQ1 2025. EBIT was negative DKK 3 million and improved slightly from negative 5\nmillion in the comparison period.\n* At end-Q1 2026, the order backlog (net) amounted to DKK 763 million, a 16%\nincrease from end-Q1 2025.\n* In April 2026, the Semi-detached business sold 3 houses (units) and\ndelivered 32 houses (units), according to preliminary figures. In April last\nyear, sales came to 4 units with no deliveries.\n Overview of selected Semi-detached projects Announced Units conditional* Units unconditional** Units delivered Expected final delivery \n Location Developer \n Oksbøl Boligselskabet Filsø Q4 2025 0 23 0 2027 \n Gladsaxe E. Kornerup Q3 2025 0 156 0 2028 \n Ringsted Velkomn Q2 2025 0 191 0 2027 \n Rønne Æbleløkkerne Q1 2025 0 96 0 2026 \n Haslev Velkomn Q3 2024 0 153 0 2026 \n Viby Sjælland NREP Q4 2023 0 136 0 2027 \n Tingbjerg NREP (stage 1 of 2) Q3 2022 Up to 43 128 30 2028 \n Tingbjerg NREP (stage 2 of 2) Q3 2022 Up to 203 0 0 2030 \n * Not sales registered and not included in order backlog until conditions are met \n ** Included in net order backlog until delivery \n\nWooden houses\n* The Wooden houses business in Sweden sold 17 houses (units) in Q1 2026, a\n48% decrease from the comparison period, which was positively affected by a\nB2B contract of 15 units.\n* Revenue increased to DKK 31 million, up 41% from Q1 2025 following delivery\nof 19 houses (units) at an ASP of DKK 1.4 million against 16 houses (units)\nand an ASP of DKK 1.2 million in the comparison period.\n* Gross profit was DKK 13 million, corresponding to a margin of 39.9% compared\nto DKK 11 million and 47.9% in Q1 2025, which was positively impacted by sales\nof land.\n* EBITDA amounted to DKK 4 million for a margin of 11.7% compared to DKK 3\nmillion and 13.4% in the same period last year. Accordingly, EBIT was\nunchanged at DKK 1 million.\n* At end-Q1 2026, the order backlog (net) stood at DKK 103 million, compared\nto DKK 128 million on 31 March 2025.\n* According to preliminary figures, the Wooden houses business sold 9 and\ndelivered 7 houses (units) in April 2026, compared to 8 and 8 respectively, in\nApril 2025.\nOutlook for 2026\n\nThe full-year 2026 guidance issued on 6 March 2026 is reiterated:\n* Revenue is expected to be DKK 3.0-3.3bn\n* EBITDA before special items is expected to be DKK 70-130m\n* Operating profit (EBIT) before special items is expected to be DKK 15-75m\nBased on preliminary figures, the divestment of HusCompagniet’s\nprefabrication factory in Esbjerg to Nordic Wood Industries completed on 10\nApril 2026 is expected to entail an accounting loss of DKK 68 million\nrecognised as special items in Q2 2026.\n\nThe guidance for 2026 is based on expected deliveries of 1,000-1,300 houses.\nThe outlook for 2026 is positively affected by the higher order backlog,\nwhereas continued geopolitical tension and conflicts have a negative impact on\nmarket dynamics. Low visibility, continued market volatility and price\nsensitivity as well as three challenged B2B projects affecting profitability\nuntil the first half of 2027 have an unfavourable impact on earnings\nexpectations for 2026. The guidance assumes no severe deterioration of the\ngeopolitical tension in the Middle East causing disruption of supply chains or\nsignificantly increased raw material prices from Q1 2026 levels.\n\nWebcast and conference call\n\nHusCompagniet will host a conference call for investors and analysts today, 1\nMay 2026, at 10:00 (CEST). The conference call and presentation will be\navailable from HusCompagniet’s investor website.\n\nConference call dial-in numbers for investors and analysts:\n\n Participant dial-in: \n Denmark: +45 78 76 84 90 \n France: +33 1 81 22 12 59 \n Germany: +49 30 21 78 93 27 \n Sweden: +46 31 311 50 03 \n United Kingdom: +44 20 3769 6819 \n United States: +1 646 787 0157 \n PIN: 649396 \n\nWebcast link:\nhttps://huscompagniet.nexahub.io/events/trading-statement-first-three-months-of-2026\n\nFor additional information, please contact:\n\nAllan Auning-Hansen,\nGroup CFO                               +45 30\n10 25 00\n\nForward-looking statement\nThis announcement includes forward-looking statements on various matters, such\nas expected earnings and future strategies and expansion plans. Such\nstatements are uncertain and involve various risks, as many factors, some of\nwhich are beyond our control, may result in actual developments differing\nconsiderably from the expectations set out. Such factors include, but are not\nlimited to, general economic and business conditions, exchange rate and\ninterest rate fluctuations, the demand for our services and competition in the\nmarket.\n\n\nhttp://publish.ne.cision.com//Release/ViewReleaseHtml/57D1DF619E649CBDE0C856B0705FC7D6\n\n10 HusCompagniet delivers good performance in winter-affected Q1 2026 and\nconfirms guidance (https://mb.cision.com/Main/21145/4343377/4072003.pdf)\n\n\n\n(c) Copyright Waymaker BIT News - Cision 2026"},"type":"article","timestamp":"2026-05-01T06:00:11.238560672Z","server_sent_at_ms":1777615211238},"received_at":"2026-05-01T06:00:11.402Z","source_url":null},"analysis":{"id":"12264","press_release_id":"16452","analysis_json":{"industry":{"label":"Consumer Durables & Apparel","sector":"Consumer Discretionary"},"redFlags":["Gross margin decreased to 16.4% from 19.5% due to weather and B2B project challenges","Divestment expected to entail an accounting loss of DKK 68 million in Q2 2026"],"eventType":"earnings","narrative":"HusCompagniet reported Q1 2026 revenue of DKK 791 million, up 25% year-over-year, driven by solid execution on its order backlog across all segments.\n\nDespite the revenue growth, gross margin fell to 16.4% from 19.5% due to the coldest January in 16 years and three challenged B2B projects, resulting in EBITDA of DKK 18 million.\n\nThe company reiterated its full-year 2026 guidance for revenue and EBITDA, and announced the divestment of its Esbjerg factory to Nordic Wood Industries for DKK 55 million to reduce debt.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Top-line growth offsets margin pressure; guidance stays firm."},"keyFigures":{"revenue":"DKK 791 million","guidance":"FY26 revenue DKK 3.0-3.3bn; EBITDA DKK 70-130m; EBIT DKK 15-75m","revenueYoy":"25%"},"quotedText":"We generated revenue growth and earnings in line with expectations reflecting the continued execution on our solid order backlog.","namedEntities":{"people":[{"name":"Martin Ravn-Nielsen","role":"Group CEO"},{"name":"Allan Auning-Hansen","role":"Group CFO"}],"products":["Detached houses","Semi-detached houses","Wooden houses"],"companies":[{"name":"Nordic Wood Industries","relationship":"partner / acquirer"}],"dollarAmounts":[{"amount":"DKK 791 million","context":"Q1 2026 revenue"},{"amount":"DKK 18 million","context":"Q1 2026 EBITDA"},{"amount":"DKK 55 million","context":"Enterprise value of Esbjerg factory divestment"},{"amount":"DKK 68 million","context":"Expected accounting loss from divestment"},{"amount":"DKK 2.1 billion","context":"Order backlog at end-March 2026"}]},"materialImpact":{"score":3,"reasoning":"Q1 revenue growth of 25% demonstrates strong execution, but gross margin compression due to weather and project challenges tempers the positivity. Guidance was merely confirmed rather than raised."},"tickerRelevance":{"others":[],"primary":"HUSCO"},"globalImportance":25,"audienceRelevance":15,"eventTypeSecondary":["guidance_update","m_and_a"],"importanceComponents":{"tickerTier":"small-mid-cap","eventGravity":"q1-earnings-strong-top-line","sectorWeight":"homebuilding"}},"event_type":"earnings","event_type_secondary":["guidance_update","m_and_a"],"sentiment":"bullish","material_impact_score":3,"narrative":"HusCompagniet reported Q1 2026 revenue of DKK 791 million, up 25% year-over-year, driven by solid execution on its order backlog across all segments.\n\nDespite the revenue growth, gross margin fell to 16.4% from 19.5% due to the coldest January in 16 years and three challenged B2B projects, resulting in EBITDA of DKK 18 million.\n\nThe company reiterated its full-year 2026 guidance for revenue and EBITDA, and announced the divestment of its Esbjerg factory to Nordic Wood Industries for DKK 55 million to reduce debt.","key_figures":{"revenue":"DKK 791 million","guidance":"FY26 revenue DKK 3.0-3.3bn; EBITDA DKK 70-130m; EBIT DKK 15-75m","revenueYoy":"25%"},"named_entities":{"people":[{"name":"Martin Ravn-Nielsen","role":"Group CEO"},{"name":"Allan Auning-Hansen","role":"Group CFO"}],"products":["Detached houses","Semi-detached houses","Wooden houses"],"companies":[{"name":"Nordic Wood Industries","relationship":"partner / acquirer"}],"dollarAmounts":[{"amount":"DKK 791 million","context":"Q1 2026 revenue"},{"amount":"DKK 18 million","context":"Q1 2026 EBITDA"},{"amount":"DKK 55 million","context":"Enterprise value of Esbjerg factory divestment"},{"amount":"DKK 68 million","context":"Expected accounting loss from divestment"},{"amount":"DKK 2.1 billion","context":"Order backlog at end-March 2026"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-01T06:09:25.863Z","global_importance":25,"audience_relevance":15,"importance_components":{"tickerTier":"small-mid-cap","eventGravity":"q1-earnings-strong-top-line","sectorWeight":"homebuilding"}},"durationMs":156152,"modelName":"glm-4.7"}}