Gabriel Holding A/S

Financial targets

Gabriel aims to achieve:

  • return on invested capital (ROIC) averaging at least 15% before tax;
  • an increasing average operating (EBIT) margin;
  • an average annual increase in earnings per share of at least 15%; and
  • an average annual increase in revenue of at least 15%.

In years with acquisitions or major business start-ups, management accepts a temporary decrease in the achievement of its financial targets, provided that the company on average meets the targets over a five-year period.

Strategy

Gabriel is growing with the largest market participants. Gabriel’s growth is based on a global strategy of close  development partnerships and trading relations with approximately 70 selected major leading customers.

Gabriel strives to win the largest possible share of the selected strategic customers' purchase of furniture fabrics, other components and services in the value chain. The FurnMaster Business Unit realises the commercial potential of the links of the value chain deriving from furniture fabrics, e.g. cutting, sewing and upholstering of furniture components.

Financial Highlights 

  Unit 2023/24

2022/23
(corrected)

 2021/22*
(corrected)		 2020/21* 2019/20*
Revenue DKK million 483,5 454,5 1.065,0 809,7 727,3
Growth** % 6,4 -57,3 31,5 11,3 2,7
of which exports DKK million 447,3 423,1 884,6 688,0 629,0
Export percentage  % 93 93 83 85 86
Earnings before depreciation, amortisation and impairment losses (EBITDA) DKK million 56,8 46,9 96,0 96,5 80,3
Operating profit (EBIT) DKK million 19,7 13,1 53,5 58,6 41,9
Net finance income and costs  DKK million -16,6 -10,4 15,5 -2,8 -12,8
Profit from continuing operations before tax  DKK million 4,0 3,1 69,1 58,8 32,0
Tax  DKK million -5,5 -4,6 -22,4 -12,6 -7,0
Profit/loss from continuing operations after tax  DKK million -1,5 -1,4 46,7 46,2 25,0
Loss from discontinued operations after tax  DKK million -14,2 -42,7      
Profit/loss for the year DKK million -15,7 -44,1 46,7 46,2 25,0
             
Cash flows from:            
Operating activities DKK million 37,3 26,5 9,1 39,4 57,2
Investing activities DKK million -20,9 -34,8 -41,1 -36,6 -30,5
Financing activities DKK million -15,9 -27,6 -45,2 -32,0 -18,1
Cash flows for the year DKK million 0,5 -52,2 -77,2 -29,2 8,6
Investments in property, plant and equipment  DKK million 13,9 23,7 32,2 27,8 22,7
Depreciation, amortisation and impairment losses  DKK million 37,1 33,8 42,6 37,9 38,4
Equity**  DKK million 261,6 275,7 347,1 322,1 283,4
Statement of financial position total** DKK million 777,2 773,7 861,0 731,2 645,5
Invested capital  DKK million 362,6 538,3 569,2 474,7 411,3
Working capital DKK million 156,9 258,1 299,6 223,8 172,3
Average number of employees Number 389 396 1.358 1.163 1.151
Revenue per employee DKK million 1,2 1,1 0,8 0,7 0,6
             
Financial ratios            
Gross margin % 51,7 51,4 32,5 36,4 37,6
EBITDA margin  % 11,7 10,3 9,0 11,9 11,0
EBIT margin  % 4,1 2,9 5,0 7,2 5,8
Return on invested capital (ROIC) before tax % 0,9 0,6 15,3 13,3 8,4
Return on invested capital (ROIC) after tax  % -0,3 -0,3 11,0 10,4 6,6
Earnings/loss per share (EPS)   DKK -8,3 -23,4 24,7 24,4 13,2
Loss per share from continuing operations DKK -0,8 -0,7      
Return on equity   % -0,5 -0,5 17,1 15,3 8,9
             
Equity ratio  % 33,7 35,6 40,3 44,1 43,9
Equity ratio, continuing operations % 36,7        
Book value per share at year end   DKK 138 146 184 170 150
Market price at year end  DKK 270 306 515 630 690
Price/book value  DKK 2,0 2,1 2,8 3,7 4,6
             
Price earnings (PE)  DKK -32,5 -13,1 20,8 25,8 52,2
Price cash flow (PCF)   DKK 13,7 21,8 107,1 30,3 22,8
             
Proposed dividend per DKK 20 share  DKK 0,00 0,00 10,75 9,75 a
Dividend yield % 0,0 0,0 2,1 1,5 0,7
Payout ratio  % 0 0 35 40 38

 

The figures for the years 2021/22 and 2022/23 have been adjusted due to corrections of significant errors.
*No adjustment regarding discontinued operations was made to the financial highlights for the years 2019/20 – 2021/22.
**No adjustment regarding discontinued operations was made to the financial highlights for the years 2019/20 – 2022/23.

Mission

Innovation and value-adding partnerships are fundamental values of Gabriel’s mission statement.

Gabriel is a niche company which, in the entire value chain from concept to furniture user, develops, manufactures and sells upholstery fabrics, components, upholstered surfaces and related products and services. Gabriel develops its services to be used in fields of application where product features, design and logistics have to meet invariable requirements, and where quality and environmental management must be documented.

Vision

Gabriel is to be the preferred development partner and supplier to selected leading international manufacturers and major users of upholstered furniture, seats and upholstered surfaces.

Gabriel will achieve Blue Ocean status through an innovative business concept, patents, licences, exclusivity agreements or similar rights.

Gabriel will have the status of an attractive workplace and partner company for competent employees and companies.

Gabriel Group 2025

Gabriel Group 2025