The sweeping tariffs announced by President Donald Trump on 02 April 2025 are reshaping global trade, introducing uncertainty, and with trade barriers likely to drive a negative global growth shock. While tariff negotiations are ongoing and subject to significant change in both directions, Gabriel’s production, particularly in Mexico, could be directly affected, with indirect impacts likely to drive a weaker outlook in H2’2024/25 and into 2025/26. The European market, also the largest market, may be somewhat more insulated against tariff impacts, however, we expect the indirect effects, such as higher lending/mortgage rates, can delay the rebound in the real estate and furniture fabrics market conditions, resulting in greater short-term challenges. The increased macro and policy uncertainty may also present an obstacle in the ongoing carve-out process of FurnMaster, a key driver of near-term uncertainty. Despite the long-term outlook remaining solid, with operating leverage to benefit from an eventual market rebound, the tariff-driven uncertainty lead us to reiterate our Reduce recommendation with a revised price target of DKK 130 per share.

Gabriel ventes at rapportere tal for 2. kvartal 2024/25 – torsdag d. 8. maj 2025. Dagen efter – fredag d. 9. maj kl. 10.30 har du mulighed for at høre mere om hvordan kvartalet er forløbet. Det sker på et virtuelt live-event, hvor vi har CEO Anders Hedegaard Petersen med fra Gabriel, og foruden en gennemgang af regnskabet, vil der også være tid til spørgsmål fra publikum.

Dagens aktienyheder med Scandinavian Medical Solutions, Gabriel og GreenMobility.

Dagens aktienyheder 21.02.2025: ISS, Gubra, DFDS og Gabriel

Fredag i sidste uge havde vi fornøjelsen at afholde event med Gabriel, hvor CEO Anders Hedegaard Petersen præsenterede regnskabet for 1. kvartal 2024/25, og kom omkring den seneste udvikling i både de fortsættende og ophørende aktiviteter. Fik du ikke set med kan du se optagelsen her.

På trods af den generelle stabilitet i Q1’24-25-resultaterne ser vi stadig usikkerhed omkring tidspunktet for salget af FurnMaster-enhederne. Lige nu betragter vi carve-out-processen som den vigtigste kortsigtede trigger, der kan reducere risikoen i casen.

Gabriel ventes at rapportere tal for 1. kvartal 2024/25 – torsdag d. 6. februar 2025. Dagen efter – fredag d. 7. februar kl. 10.30 har du mulighed for at høre mere om hvordan kvartalet er forløbet. Det sker på et virtuelt live-event, hvor vi har CEO Anders Hedegaard Petersen med fra Gabriel, og foruden en gennemgang af regnskabet, vil der også være tid til spørgsmål fra publikum.

Dagens aktienyheder 7/2/2025: Danske Bank, Ascelia Pharma, Agillic, Mdundo, Skjern Bank og Gabriel

Gabriel’s Q1’24-25 results reflected relative stability during a moment of heightened uncertainty. A stable revenue of MDKK 228.1 (MDKK 227.7 Q1’23-24) was slightly below our expectations of +1% growth y/y as positive development in continuing operations was offset by a decline in FurnMaster driven by the restructuring of its Mexican subsidiary. Q1 was the first step towards greater stability, however, uncertainty relating to the carve-out process of FurnMaster remains high, and the range of outcomes is broader than normal. Group EBIT of MDKK 0.3 in Q1’24-25 was below our estimate of MDKK 4.6, impacted by elevated costs relating to restructuring, accounts verification, and carve-out advisory fees. The Q1 results support our view of long-term potential in the company, however, also reinforce our view of greater short-term risk due to the FurnMaster carve-out process. We reiterate our Reduce recommendation with a slightly revised price target of DKK 180 per share from DKK 195 previously.

Dagens aktienyheder med Vestjysk Bank, Agillic, Gabriel og Inderes

We estimate a small positive topline growth year-on-year in Q1’24-25 as the stable to slightly improving market backdrop with lower interest rates and inflation, can support a slight positive development in the group despite challenges.

Fredag i sidste uge havde vi fornøjelsen at afholde event med Gabriel, hvor CEO Anders Hedegaard Petersen sammen med Group Finance Director Peter Bach-Fisker, præsenterede årsregnskabet for 2023/24 og de nye forventninger til 2024/25. Fik du ikke set med kan du se optagelsen her.

Gabriel delivered its annual report FY’2023/24 following a delay to the report in November due to accounting irregularities in a Mexican subsidiary of the discontinuing FurnMaster business unit. Despite topline growth of 6.4% y/y and EBIT margin improvement in the continuing operations, ongoing challenging market conditions and short-term uncertainty relating to the discontinuing operations and carve-out process lead to near-term elevated risk in the case. See HCA’s analyst Philip Coombes’ thoughts on the results. Report: https://www.inderes.dk/research/gabriel-holding-fy202324-waiting-for-the-carve-out-to-unlock-value Disclaimer: HC Andersen Capital receives payment from Gabriel for a Digital IR agreement and research services. / Philip Coombes 14:35, 13/01/2025.

Gabriel ventes at offentliggøre sit årsregnskab for 2023/24 – onsdag d. 8. januar 2025. Senere i samme uge - fredag d. 10. januar kl. 10.00 har du mulighed for at høre mere om hvordan året er forløbet.

Dagens aktienyheder med Gabriel og SaaS sektoren