Nasdaq CopenhagenIFRS · DKK

LOUIS POULSEN A/S

Louis Poulsen A/S is a Danish lighting company that designs, manufactures, and sells architectural and decorative luminaires and related lighting solutions. Its business spans Denmark and international markets through subsidiaries, agents, and distributors, with a global customer base served from its Copenhagen headquarters.

Liikevaihto966milj. DKK
+7,7 %v/v
Liikevoitto (EBIT)214milj. DKK
+20,9 %v/v
EBIT-marginaali22,2%
+2,4 %-yks.v/v
Nettotulos152milj. DKK
+27,7 %v/v
Vapaa kassavirta189milj. DKK
−4,5 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2024–2025

02004006008001 000milj. DKK2024: 897 milj. DKK2024: EBIT 177 milj. DKK20242025: 966 milj. DKK2025: EBIT 214 milj. DKK2025966214
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Architectural luminaires45 %

Indoor and outdoor lighting products used in buildings, public spaces, and commercial environments.

Decorative lighting30 %

Design-led lamps and fixtures sold for residential, hospitality, and premium interior settings.

Outdoor lighting15 %

Exterior luminaires for streetscapes, campuses, and landscape applications.

Distribution and services10 %

Sales support, channel distribution, and related commercial services across markets.

Asiakkaat

Louis Poulsen sells to a mix of professional and consumer customers, with demand tied to lighting design, renovation, and new-build activity. Its products are bought by architects, designers, contractors, commercial end users, retailers, and distributors who value aesthetics, quality, and specification-led performance.

Architects and designers

Specify luminaires for projects where design, light quality, and brand matter.

Contractors and installers

Buy lighting products for building and renovation projects where product availability and specification compliance matter.

Distributors and agents

Purchase and resell products across international markets, extending market reach.

Commercial and institutional end users

Buy lighting for offices, hospitality, public spaces, and other facilities.

Residential consumers

Buy branded decorative lighting for homes and interior design use.

Strategia

Louis Poulsen’s strategy is anchored in international distribution of premium lighting products and maintaining a broad commercial footprint beyond Denmark. The business also manages currency exposure and global operating complexity through hedging, local subsidiaries, and channel relationships.

Grow international sales reachKeskipitkä aikaväli

The company depends on markets outside Denmark and uses subsidiaries and distributors to access them.

Manage foreign exchange exposureLyhyt aikaväli

Sales and purchases in multiple currencies can materially affect reported results and cash flows.

Preserve premium brand positionPitkä aikaväli

Design-led lighting relies on specification and brand preference in competitive lighting markets.

Maantiede

Louis Poulsen is headquartered in Copenhagen and serves markets outside Denmark through 11 subsidiaries and through agents and distributors. The company describes its operations as global, with a meaningful share of employees abroad and exposure to foreign exchange, trade barriers, and tariff movements across markets.

Riskit

The company is exposed to currency swings, trade barriers, and tariffs because a significant part of its business is international and denominated in multiple currencies. It also faces typical lighting-industry risks such as demand sensitivity to construction and renovation activity, channel dependence, and competitive pressure from other branded and commodity lighting suppliers.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Foreign exchange volatility1Project and construction demand cyclicality2Trade barriers and tariffs3Tax and transfer pricing disputes4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Foreign exchange volatilityVaikutus: KorkeaTodennäköisyys: Korkea

    A substantial share of activity is denominated in non-DKK currencies, and the company notes meaningful FX exposure.

    KohdistuuSalesPurchasesInvestments in JPYSEKNOKCNY
  2. Project and construction demand cyclicalityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Lighting demand is tied to building activity, renovations, and project launches, which can be uneven.

    Kohdistuu: Architectural and commercial lighting demand

  3. Trade barriers and tariffsVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company operates globally, so geopolitical or policy changes can affect pricing, sourcing, and market access.

    Kohdistuu: International sales and supply chains

  4. Tax and transfer pricing disputesVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The group operates across jurisdictions and notes an ongoing tax audit involving an R&D tax incentive program.

    Kohdistuu: Uncertain tax treatment and cross-border tax positions

Kirjanpito

Harkinnanvaraiset erät
Foreign currency hedge accounting

Derivative gains and losses are deferred in OCI and recycled later, affecting the timing of earnings.

Vaikutus: Can shift profit recognition between periods

Uncertain tax positions

An ongoing audit over an R&D tax incentive could change tax expense if the authority disagrees.

Vaikutus: Potential tax expense of DKK 4.8 million noted

Lease accounting

Office, showroom, warehouse, and equipment leases require judgment on term and extension options.

Vaikutus: Affects right-of-use assets and lease liabilities

Defined-benefit pensions

German pension obligations depend on actuarial assumptions and benefit calculations.

Vaikutus: Affects provisions and personnel expense

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.10.2026