Aktieselskabet Schouw & Co.

Interim report – third quarter of 2026

Today, Schouw & Co. released its interim report for the third quarter of 2026; Schouw & Co. continued the positive development in the third quarter of 2026, delivering significant growth in both revenue and earnings.

Highlights

• DKK 10.6bn revenue – a 16% increase
• DKK 1,199m EBITDA – a 37% increase
• 47.0k tonnes Scope 1+2 CO2e emissions – a 3% reduction
• DKK 966m cash flow from operations – an 8% increase
• DKK 23.53 earnings per share – a 52% improvement
• 15.9% ROIC excluding goodwill – a 3.1pp improvement
• Full-year revenue and EBITDA guidance raised.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.
– Schouw & Co. delivered a very strong third quarter of 2026, with the highest quarterly operational earnings in our almost 150-year history. The performance was broadly based across the portfolio, supported by high activity levels, improved operational leverage, and the benefits of the initiatives implemented in recent years. We are seeing the effects of our investments in capacity, automation, and more efficient production platforms, and we enter the final part of 2026 with strong momentum.

The solid performance is supported by healthy activity and a positive outlook across large parts of the portfolio. We recently presented our long-term ambitions at our Capital Markets Day under the heading Expand 2030, setting a clear direction for the continued development of Schouw & Co. Our ambition is to grow organically, continue developing the portfolio, and maintain a disciplined focus on capital allocation and an attractive return on invested capital.

Our results strengthen our confidence in the direction we have set. The portfolio businesses have strong market positions, significant capacity already in place, and clear plans for profitable growth. While uncertainty remains in parts of the global economy, the combination of a well-invested platform, a strong balance sheet, and disciplined capital allocation leaves Schouw & Co. well positioned to pursue our long-term ambitions and create attractive shareholder returns.

Conference call (in English) in relation to the interim report

• Friday, 6 November 2026 at 10:00 CET

Please join the conference call via this link: www.schouw.com/cc

Aktieselskabet Schouw & Co.

Jørgen Wisborg, Chairman of the Board of Directors
Jens Bjerg Sørensen, President & CEO, telephone no. +45 86 11 22 22

Attachments

• 2026-11-06 FBM26-68 2026Q3 Interim report ENG
• SchouwCo 2026Q3 ENG