Roblon: Final Q3 2025/26 financial statements following the profit warning a month ago

RBLN BAnalyst Comment2026-09-29 11:55

Rasmus KøjborgHead of Research, Stables

Summary

Roblon's Q3 2025/26 financial results show a significant decline in revenue to DKK 38.0m from DKK 69.3m in Q3 2024/25, with EBIT before special items at DKK -1.3m compared to DKK +14.3m previously.
The company maintains its revised full-year guidance with expected revenue of DKK 150–170m and EBIT before special items of DKK -20 to -10m, following a profit warning issued in August.
The FOC segment showed growth with a 19% increase in quarterly revenue, while the Composite segment experienced a contraction, contributing to the overall revenue decline.
Despite challenges, Roblon reported a strong order intake of DKK 61.9m, resulting in a book-to-bill ratio of 163% and a nearly doubled order backlog, primarily driven by the Composite segment.

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Automatic translation: Originally published in Danish 29/09/2026, 09:55 GMT. Give feedback here.

Roblon has released its financial statements for Q3 2025/26 this morning, but the key figures were already known. The company lowered its full-year guidance on August 27 and simultaneously published revenue, earnings, and order backlog for the first nine months of the year. The picture continues to be characterized by the same challenges. One of the largest offshore oil and gas customers has decreased its purchases due to high inventories, while the expected progress in the FOC segment has materialized more slowly than expected.

Revenue for Q3 ended at DKK 38.0m (Q3 2024/25: DKK 69.3m), EBITDA before special items was DKK +1.2m (DKK +17.5m), and EBIT before special items landed at DKK -1.3m (DKK +14.3m). For the first nine months, revenue is DKK 110.9m (DKK 182.3m) and EBIT before special items is DKK -14.4m (DKK +33.3m). The FOC segment was once again a relative bright spot, with quarterly growth of 19% to DKK 13.4m. Conversely, the Composite segment accounted for the entire contraction, falling to DKK 24.6m from DKK 58.1m. However, the quarter was the first of the year with positive EBITDA, aided by a gross margin of 62.2% (58.0%).

Full-year guidance has been maintained following the downward revision, with revenue of DKK 150–170m (previously DKK 170–210m) and EBIT before special items of DKK -20 to -10m (previously DKK -10 to +10m). This implies revenue of DKK 39–59m in Q4. A positive signal is the strong order intake in the quarter of DKK 61.9m (Q3 2024/25: DKK 38.6m), corresponding to a book-to-bill ratio of 163%. The order backlog has thus nearly doubled since the end of April to DKK 53.7m, with the increase coming primarily from the Composite segment. Management continues to expect a higher level of activity in the energy cable area and generally in the 2026/27 financial year.

Tomorrow – Wednesday, September 30, 2026, at 10:00 AM – we have the pleasure of inviting you to a presentation of the financial statements. Representing Roblon to present and answer questions is Carsten Michno, who serves as both CFO and Co-CEO. In addition to the quarterly financial statements, we will also hear more about the background for the downward revision and the outlook for 2026/27, where activity in energy cables is expected to pick up again. Sign up here: https://www.inderes.dk/videos/roblon-praesentation-af-regnskabet-for-3-kvartal-202526

Disclaimer: HC Andersen Capital receives payment from Roblon for a Digital IR subscription agreement. Rasmus Køjborg, CFA at 11:55 AM on Sep 29, 2026.

Roblon develops high performance fiber solutions and technologies with a history dating back to 1957, when the company was founded. Roblon produces the fibers, made of fiberglass, aramid etc. that are used to reinforce and protect vital cables in various industries. The company is divided into two main business areas – Fiber Optic Cables (FOC) and Composite. The FOC segment is usually a sub-supplier to large cable producers, where the end customers are typically global internet and telecom providers. The Composite segment is usually a sub-supplier to the producers of wires and cables, which supply global oil & gas companies as well as companies that are active within wind energy. Roblon is headquartered in Frederikshavn (Denmark) and has production facilities in Gærum (Denmark), Hickory, North Carolina (USA) and the recently acquired Vamafil in the Czech Republic. Roblon is thus active with production and sales in both Europe and the USA.