GYLD-ANasdaq CopenhagenPublishingIFRS · DKK

GYLDENDAL A/S

GYLDENDAL A/S is a Danish publishing group with roots in the Nordic book market. Its business spans the publication, distribution and sale of books and related content, with activities centered in Denmark and an evident presence in Sweden through acquired publishing operations.

Liikevaihto799milj. DKK
+10,5 %v/v
Liikevoitto (EBIT)6,4milj. DKK
−79,1 %v/v
EBIT-marginaali0,8%
−3,4 %-yks.v/v
Nettotulos40,8milj. DKK
+80,0 %v/v
Vapaa kassavirta91,0milj. DKK
+14,4 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

02004006008001 000milj. DKK2020: 900 milj. DKK2020: EBIT 8,7 milj. DKK20202021: 935 milj. DKK2021: EBIT 42 milj. DKK20212022: 706 milj. DKK2022: EBIT 12 milj. DKK20222023: 720 milj. DKK2023: EBIT 18 milj. DKK20232024: 723 milj. DKK2024: EBIT 31 milj. DKK20242025: 799 milj. DKK2025: EBIT 6,4 milj. DKK20257996,4
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Book publishing70 %

Publication of printed and digital books across consumer and educational categories.

Distribution and sales20 %

Commercial sale and distribution of books through retail and other channels.

Digital content5 %

E-books, audiobooks and other digital publishing formats.

Acquired publishing operations5 %

Publishing businesses acquired to expand the group’s Nordic footprint.

Asiakkaat

Gyldendal sells to readers through bookshops, online retailers and other consumer channels, while also serving institutional and educational buyers. Its customer base is shaped by language, local titles and editorial brands, which makes national publishing rights and local market relationships important.

Consumer readers

Buy printed and digital books for leisure, learning and children’s reading.

Book retailers and e-commerce channels

Purchase titles for resale through bookstores and online marketplaces.

Educational institutions

Buy learning materials and textbooks tied to curricula and classroom use.

Libraries and public institutions

Acquire selected titles for public access, reference and cultural use.

Nordic publishing imprints

Bought or integrated as part of the group’s publishing expansion.

Strategia

Gyldendal’s strategy appears centered on strengthening its publishing franchise through local content, broader Nordic reach and acquisitions. The report also points to integration of acquired publishing businesses, which expands the group’s catalog, talent base and market access.

Nordic expansionKeskipitkä aikaväli

Publishing economics depend on language markets, so expanding in nearby Nordic geographies broadens reach without losing local relevance.

Acquisition integrationLyhyt aikaväli

Buying publishing assets can add catalog depth and market access, but value depends on successful integration of authors, staff and rights.

Content and brand strengtheningPitkä aikaväli

Strong titles, authors and editorial brands drive repeat demand and channel power in a fragmented publishing market.

Maantiede

The group is anchored in Denmark and has disclosed publishing activity in Sweden, indicating a Nordic operating footprint. Geography matters because publishing is language- and market-specific, so title portfolios, author networks and retail access are built country by country.

Riskit

Gyldendal’s key risks stem from reliance on culturally specific publishing demand, the economics of retail and digital book channels, and the execution of acquisitions. The report also highlights deal-related judgments, including contingent obligations and goodwill, which can affect future earnings if acquired businesses underperform.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Acquisition integration risk1Goodwill impairment2Market fragmentation and demand volatility3Contingent consideration / option liability4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Acquisition integration riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Recent purchases add staff, customer relationships and operations that must be combined successfully to realize expected value.

    Kohdistuu: Publishing acquisitions and Nordic expansion

  2. Goodwill impairmentVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Goodwill reflects expected value from acquired customer networks, employees and other intangibles that may not be recoverable if performance weakens.

    Kohdistuu: Acquired publishing businesses

  3. Market fragmentation and demand volatilityVaikutus: KeskitasoTodennäköisyys: Korkea

    Publishing depends on local language markets and title-specific consumer demand, which can vary materially by genre and season.

    Kohdistuu: Book publishing and sales

  4. Contingent consideration / option liabilityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Put and call options linked to Tukan-gruppen may create future obligations dependent on that business’s economic development.

    Kohdistuu: Tukan-gruppen ownership structure

Kirjanpito

Harkinnanvaraiset erät
Goodwill and impairment testing

Goodwill is tied to acquired workforce, customers and networks and may need impairment if the acquired business weakens.

Vaikutus: Can materially affect balance sheet and earnings

Business combinations

The report references provisional purchase price allocations and acquired businesses, which require judgment in fair value measurement.

Vaikutus: Affects reported assets, liabilities and future amortization

Special items

M&A and transaction costs are being classified as special items, affecting comparability of operating profit.

Vaikutus: Influences underlying performance measures

Contingent consideration

Put/call arrangements and earn-out style obligations depend on future performance and require remeasurement judgments.

Vaikutus: Can affect liabilities and future income statement volatility

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.10.2026