Hobbii A/S

Beskrivelse af virksomhedens væsentligste aktiviteter

Hobbii serves the global knitting and crocheting community by inspiring creativity and selling yarn and related accessories through e-commerce and six physical stores in Denmark and Germany. We develop our yarns and accessories together with producers in Europe, Asia and South America, and send them from our warehouse in Greve to yarn enthusiasts all over the world.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

2025 was a year of continued top-line growth for the Hobbii Group, though earnings came under significant pressure from a combination of deliberate strategic investment activity and a challenging consumer and trading environment across our core markets.
Group revenue for the year was DKK 644m compared to DKK 628m in 2024, representing growth of approximately 3%. While this is below the growth rates achieved in recent years, we believe it aligns with the general market development in our category.
Entering 2025, we anticipated Group revenue between DKK 700m and DKK 750m, but the changes in US trade policies regarding tariff levels and the removal of the de minimis threshold, had a significantly adverse effect on the development of our second largest market.
Group EBITDA for the year was DKK 21m, corresponding to an EBITDA margin of 3.4%, compared to DKK 53m and an EBITDA margin of 8.4% in 2024.
Entering 2025, we anticipated Group EBITDA between DKK 40m and DKK 60m, and the decline in profitability reflects the simultaneous impact of three factors:
First, lower than expected revenue due to the factors described above. Second, increase in external expenses, driven by investments in technology infrastructure, e-commerce platform development, and marketing spend in new and existing markets — all activities in support of the Group’s medium-term growth strategy. Third, increased staff costs, reflecting investments to strengthen capabilities in technology and commercial functions.
For the parent company Hobbii A/S, net revenue for the year was DKK 639m, in line with the Group, as operations remain predominantly concentrated in the parent entity. The parent company results reflect the same dynamics as described for the Group above.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Following the subdued earnings by the Hobbii Group in the last months of 2025, we implemented a headcount reduction of about one-third of all our office-based colleagues in Q1 2026.The expected effect is incorporated into our expectations, to which we refer.No other events have occurred after the balance sheet date which could significantly affect the Group's financial position.

Beskrivelse af virksomhedens forventede udvikling

We expect somewhat challenging market conditions in 2026, especially if energy prices remain high and transition into global inflationary pressure in our core markets. We anticipate net revenue between DKK 525m and DKK 600m for the Group and between DKK 520m and DKK 595m for the parent company, Hobbii A/S.
Despite the expected decline in revenue, we expect Group EBITDA and parent company EBITDA to gradually improve following the significant headcount reduction implemented in Q1 2026 and a general uplift in our profitability from optimising our go-to-market strategy. We expect EBITDA of DKK 15m to 35m for the Group and DKK 10m to 30m for the parent company.
The global macroeconomic environment, including the ongoing evolution of trade policies, new tariff regimes and shocks to energy prices continues to carry meaningful uncertainty, and we will monitor these factors closely as the year progresses.