Nasdaq CopenhagenIFRS · DKK

Borg Automotive A/S

Borg Automotive A/S is a Danish automotive parts company focused on remanufacturing and supplying replacement components for the European aftermarket. Its core portfolio includes starters, alternators, air-conditioning compressors, brake calipers, steering racks, and EGR valves, sold through distribution networks across Europe.

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Revenue1,776m DKK
−9.9 %y/y
Operating profit (EBIT)-17.6m DKK
−114.8 %y/y
EBIT margin-1.0%
−7.0 ppy/y
Net income-52.4m DKK
−218.7 %y/y
Free cash flow-13.0m DKK
+56.2 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,5002,000m DKK2020: 871 m DKK2020: EBIT 82 m DKK20202021: 1,368 m DKK2021: EBIT 116 m DKK20212022: 1,815 m DKK2022: EBIT 126 m DKK20222023: 1,876 m DKK2023: EBIT 101 m DKK20232024: 1,971 m DKK2024: EBIT 119 m DKK20242025: 1,776 m DKK2025: EBIT -18 m DKK20251,776-18
RevenueOperating profit (EBIT)
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Business

Share of revenue
Remanufactured automotive parts70 %

Core remanufactured replacement parts for passenger cars and light vehicles.

Trading products20 %

Externally sourced automotive parts sold alongside the remanufactured range.

Customer-specific product development10 %

Product adaptations, new processes, and reverse-engineering work for the portfolio.

Customers

Borg Automotive sells primarily into the European automotive aftermarket, serving distributors, wholesalers, and other B2B channel partners. These customers buy replacement parts for repair and maintenance, where availability, quality, and fitment are critical.

European aftermarket distributors

Buy remanufactured and trading parts for resale into repair channels.

Wholesalers and regional parts networks

Purchase broad part assortments to support workshop demand.

Automotive repair and service channels

Indirect end-market buyers that drive demand for replacement parts.

Private label and strategic channel partners

Buy selected product lines and customer-specific assortments.

Strategy

The company is positioning remanufacturing as its core value proposition while expanding trading products to broaden the customer offer. It is also investing in product development, reverse engineering, and process improvement to support a wider portfolio and protect its competitive position in the European aftermarket.

Expand the product offerMedium term

A broader assortment improves customer retention and cross-sell in the aftermarket.

Strengthen remanufacturing capabilitiesLong term

The remanufacturing model is central to differentiation and circular-economy positioning.

Upgrade operating processes and qualityShort term

Quality and service levels are critical in aftermarket supply chains and customer trust.

Geography

The group has distribution facilities in Denmark, Germany, France, and Poland, and sells products throughout Europe through sales offices and channel partners. Its geography matters because production, reverse logistics, and customer service are tied to a multi-country European footprint, while demand is concentrated in the European aftermarket.

Risks

Borg Automotive is exposed to cyclical aftermarket demand, intense competition, and input-cost pressure because it sells standardized replacement parts into a price-sensitive market. The business also carries execution risk from multi-country operations, product development, and compliance controls across remanufacturing, trading, and shared services.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Weak aftermarket demand1Cost inflation in production and logistics2Inventory and product-quality issues3Operational integration risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Weak aftermarket demandImpact: HighLikelihood: High

    Replacement-part volumes depend on vehicle parc activity and distributor purchasing patterns.

    Exposure: European automotive aftermarket

  2. Cost inflation in production and logisticsImpact: HighLikelihood: High

    Remanufacturing is sensitive to labor, material, and transport costs.

    Exposure: Manufacturing and distribution network

  3. Inventory and product-quality issuesImpact: MediumLikelihood: Medium

    Aftermarket customers require reliable quality, availability, and correct fitment.

    Exposure: Remanufactured and trading parts

  4. Operational integration riskImpact: MediumLikelihood: Medium

    Multi-entity and shared-service integration can create process and control challenges.

    Exposure: Acquired entities and group functions

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Accounting

Judgemental items
Revenue recognition timing

Aftermarket sales may be recognized at shipment or delivery, making cut-off important.

Impact: Can affect quarterly comparability and reported sales timing

Inventory valuation

Remanufactured cores and traded parts require careful net realizable value assessment.

Impact: Affects gross profit and working capital

Receivables and corrections

The annual report notes discrepancies between customer payments and receivables.

Impact: Can change trade receivables, equity, and profit

Restatement of prior periods

Comparative figures were restated after internal review of accounting discrepancies.

Impact: Reduces comparability across reporting periods

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Last updated: 24/10/2026

Borg Automotive A/S Revenue, Earnings & Financials 2025 – Clarifo