Colonel Holding ApS

The group's primary activity consists in developing, manufacturing, sale and distribution of fashion clothing.

Development in activities and finances

The net revenue is kDKK 634,041 Our expectations were 625m – 635m, so revenue ends at a level consistent with our expectations. Profit before tax is kDKK 52.585. Profit after tax amounted to kDKK 36.352. ​​The management is satisfied with both the revenue and the profit.

Looking ahead to 2026, management is highly attentive to the uncertainties affecting the macroeconomic and political landscape in Europe, and thus consumer confidence and behavior. However, there are also positive factors to consider, notably from Germany and Nordic countries. Management therefore continues to see growth​opportunities and expects its strong brands to drive market share and further strengthen customer relationships.​ ​Revenue is expected to fall within the range of 660m – 670m. The EBTIDA is expected to fall within the range of 118m – 126m. The EBT is expected to fall within the range of 71m – 79m.

Profit/loss for the year in relation to expected developments

The market situation in 2025 can best be described as being characterized by significant diversity and uncertainty. In some segments, there have been positive signals while challenges persist in several other countries and segments. In this market environment, the management is satisfied to be able to deliver growth of 5,7%. ​​Strategic initiatives and operational efficiencies have contributed to maintaining a stable performance throughout the entire P/L. EBITDA for 2025 ends at a record high level and EBT is within the expected outcome. The company hedges its USD exposure through forward contracts, which in 2025 resulted in net financial losses of kDKK 2.600. Consequently, EBT falls in the middle of our expectations rather than at the upper end.

No events have occurred after the balance sheet date to this date, which would influence the evaluation of this ​​annual report.

No events have occurred after the balance sheet date to this date, which would influence the evaluation of this ​annual report.

18 Assets charged and collateral

The Group's bank has a company mortgage on DKK 8.000 k nominal. The mortgage are secured by inventories and trade receivables. Carrying amount of mortgaged assets are DKK 188,195 k.​​Investment in group enterprises are pledged as collateral for bank debt in parent company with a book value as at 31 December 2025 of DKK 75,000k. The carrying amount of securities pledged as collateral amounts to DKK 195,676 k at 31 December 2025.