Hove A/S, which supplies lubrication systems to industry – including wind turbines – and delivers its best financial results to date with significant growth in both revenue and earnings and at the same time proposes to increase the dividend to shareholders. The company states this in a statement.
Revenue increased in 2025 to 209.1 million DKK against 169.3 million DKK the previous year, corresponding to an increase of 23 percent, while EBITDA grew to 22.6 million DKK from 13.5 million DKK. Profit after tax ended at 13.6 million DKK against 5.7 million DKK in 2024.
- 2025 was a strong year for Hove, where we delivered record-high financial results. Revenue reached 209.1 million DKK, EBITDA 22.6 million DKK and net profit 13.6 million DKK. DKK, which are the highest levels in the company's history. We therefore propose to increase the dividend per share from DKK 0.14 last year to DKK 0.25 this year, says Hans Christian Hansen, CEO of Hove A/S.
The growth is driven by increased sales of pumps and grease to both existing and new customers, even though the USD/DKK exchange rate fell by 11 percent. Gross profit increased to DKK 72.7 million, while gross margin decreased to 34.8 percent due to changes in the composition of the products sold. EBITDA increased by 67 percent driven by higher activity and ongoing cost optimizations
Cash flow from operations was positive by DKK 6.7 million, but overall cash flow was negative by DKK 4.4 million as a result of inventory build-up, investment in a new factory building and dividend payments. The company's activities in the USA and India developed positively, while the winding up of the subsidiary in Brazil was completed.
In 2025, Hove has initiated an investment program of DKK 20 million, which will continue in 2026 with a focus on strengthening the organization within sales and product development and supporting growth and competitiveness.
In January, Hove raised its expectations for 2026. These expectations are maintained, so revenue is expected to be in the range of DKK 210-240 million and EBITDA of DKK 22-29 million.
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