Interim report – first quarter of 2026

Friday, Schouw & Co. released its interim report for the first quarter of 2026; Schouw & Co. delivered a solid start to 2026 in an environment marked by continued volatility, geopolitical tensions and trade-related uncertainty. While uncertainty has led to longer planning cycles and more cautious customer behaviour across several industries, our diversified portfolio continued to perform as expected.

Highlights

• ­DKK 7.7 billion revenue – a 3% decrease
• DKK 591 million EBITDA – a 5% improvement
• 46.8k tonnes Scope 1+2 CO2e emissions – a 5% reduction
• DKK 7.26 earnings per share – a 47% improvement
• 13.4% ROIC excluding goodwill – a 0.9 pp improvement
• Full-year revenue and EBITDA are maintained, but changes in global positions must be monitored closely.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.

– Schouw & Co. delivered a solid start to 2026 in a quarter marked by continued geopolitical tension, macroeconomic uncertainty and volatility across markets. Despite these conditions, Schouw & Co. once again demonstrated the strength of its diversified industrial platform. The portfolio businesses developed as expected, underscoring the value of risk diversification and disciplined execution in turbulent times.

Our portfolio businesses continue to demonstrate a strong ability to adapt. Operational agility, disciplined cost management and continuous investment in competitiveness enable our businesses to navigate changing conditions and respond effectively to new dynamics. This adaptability is a core strength and a key reason why we have been able to deliver solid performance despite a challenging environment.

The preparation for a potential IPO of BioMar has now entered its next phase with an intention to float announced. BioMar is ready to be listed and has reached a level of maturity, scale and operational excellence that supports independent access to the capital markets. Importantly, the purpose of the IPO remains unchanged: to create value for Schouw & Co. shareholders. We will proceed only on terms that we believe create long‑term value.

The expected proceeds from a BioMar IPO are intended to strengthen Schouw & Co.’s financial flexibility and will be used to support continued investment in the existing portfolio businesses, as well as to potentially establish a new platform investment. This ensures that capital released through the IPO is redeployed in line with our long‑term strategy and active ownership approach.

Video conference call (in English) in relation to the interim report

• Friday, 1 May 2026 at 10:00 CEST

Please attend via this link: www.schouw.com/cc

Aktieselskabet Schouw & Co.

Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 22 22

Attachment

• SchouwCo 2026Q1 ENG