RIAS A/S
HALF-YEAR REPORT 2025/26
Page 4 of 16
Karsten Due, CEO, comments as follows on the half-year financial statements 2025/26:
A challenging first half – impacted by external disruption:
The first half of the financial year 2025/26 has shown a revenue level below our internal budget ex-
pectations. Activity was stable and in line with expectations during the first part of the period, with
the business on budget up until the turn of the calendar year.
However, the early part of 2026 was impacted by a combination of external factors. Severe winter
conditions slowed activity within construction-related segments, while geopolitical tensions in the
Middle East disrupted supply chains and drove rapid increases in raw material prices.
These developments are unusual for our market and have impacted overall topline performance
during the period.
Earnings impacted by market volatility – but strategic initiatives progressing:
As anticipated, the period has been marked by increased pressure from external factors, particu-
larly related to pricing and supply chain dynamics. This has influenced our earnings level, which
remains below budget.
We maintain a strong focus on operational efficiency, while continuing to execute on our strategic
initiatives. The implementation of our new ERP system is progressing according to plan, and we
are beginning to see the effect of improved processes and tighter follow-up across the organisa-
tion.
In parallel, our new logistics setup in Randers has been completed and is now fully operational,
providing a stronger and more efficient platform for future growth.
Strong foundation for the second half and beyond:
Despite the challenges in the first half, the underlying business remains solid. Our diversified busi-
ness across multiple segments continues to provide a strong and resilient foundation.
While external uncertainty remains – particularly within pricing and market activity – we are confi-
dent that our strategic direction positions us well for the coming quarters. Our focus remains on
strengthening profitability, enhancing customer experience, and creating long term value.
Outlook for H2 2025/26:
Based on the development in the first half and the continued volatility in market conditions, the
Board of Directors maintains its previously communicated guidance for the financial year 2025/26,
expecting an adjusted EBIT result in the range of DKK 12–15 million.
Based on current trading and the impact of the external disruptions experienced at the beginning of
2026, performance is expected to be in the lower end of the range.
The outlook reflects continued uncertainty related to pricing, supply chain stability, and market ac-
tivity. While we continue to execute on our strategic initiatives, we remain focused on cost control,
operational flexibility, and protecting profitability in a volatile market environment.
Roskilde, 7 May 2026
Karsten Due
CEO
