Q2 2025/26 Trading Statement

DOUGLAS Group grows sales in Q2 and updates full-year guidance on adjusted EBITDA

• Market: Premium beauty with slower growth rates in mature markets, shifting shopping behavior, and increased focus on pricing and promotion amid customer uncertainty
• Higher sales at lower margin in Q2: Based on preliminary figures, Group sales increased by 1.1% to 949.7 million euros and adj. EBITDA decreased 5.1% (adj. EBITDA margin: 12.2%)
• Net result in Q2 impacted by impairments on NOCIBÉ and Parfumdreams / Niche Beauty
• DOUGLAS Group adjusts full-year guidance for adj. EBITDA to reflect the environment:

• Sales at the lower end of the range of 4.65-4.80 billion euros
• An adj. EBITDA margin of around 16.0% (previously around 16.5%)
• Net leverage at the upper end of the range between 2.5x and 3.0x as of 30.09.26

Düsseldorf, 30 April, 2026 – The DOUGLAS Group, Europe’s number one premium beauty retailer, continued to grow sales in the second quarter of the financial year 2025/26; at the same time, slower growth in mature markets, increased focus on price and promotion, and a weak consumer sentiment in the euro area due to uncertainty among customers weighed down profitability.

Based on preliminary figures, the company recorded sales of 949.7 million euros in the period from 1 January to 31 March 2026 (Q2 2024/25: 939.0 million euros), reflecting a growth of 1.1%. Adjusted EBITDA decreased by 5.1% to 116.1 million euros, resulting in a margin of 12.2% (PY: 13.0%). The adjusted EBIT amounted to 19.1 million euros (PY: 32.4 million euros).

Sander van der Laan, CEO of the DOUGLAS Group, said: “We operate in a market that has undergone a fundamental shift and is now stabilizing at a new level. Growth rates in mature premium beauty markets have normalized compared to the exceptional post‑pandemic period, while geopolitical and macroeconomic uncertainty continues to weigh on consumer sentiment. In this environment, our focus for the short- and mid-term is clear: omnichannel, differentiation, and profitable growth.”

The net loss in the second quarter of 2025/26 amounts to a high-double-digit to low-triple-digit million euro figure. This is primarily attributable to impairments amounting to a mid- to high-double-digit million euro figure on goodwill relating to the business activities at the French business (NOCIBÉ) and Parfumdreams/Niche Beauty, as well as further impairments on assets amounting to a low-double-digit million euro figure.

Guidance for 2025/26 adjusted

Reflecting the changes in the premium beauty market and the current geopolitical and economic environment, the Management Board of the DOUGLAS Group has today adjusted the guidance for the financial year 2025/26. The company now expects:

• Sales at the lower end of the range of 4.65-4.80 billion euros
• An adj. EBITDA margin of around 16.0% (previously around 16.5%)
• Net leverage at the upper end of the range between 2.5x and 3.0x as of 30.09.26

Strategic focus on omnichannel, differentiation, and profitable growth

The company is sharpening its strategic direction: Driving the differentiation in services and product offering, its leading omnichannel model, and a future-ready infrastructural backbone will be the key levers for sustainable growth in the current environment, in addition to a strict cost discipline.

Sander van der Laan: “Our omnichannel model is a structural advantage in this ‘new normal’. The strategic direction we took with ‘Let it Bloom’ already put us in a good position, and we are further narrowing down this path and accelerating our efforts to excel in the execution of our initiatives. These measures are not short‑term reactions to the challenging environment: They are deliberate investments in the foundation on which we will deliver sustainable, profitable growth.”

The full set of financial figures for the second quarter of the financial year 2025/26 will be published on 12 May 2026.

About the DOUGLAS Group

The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,970 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2024/25, the DOUGLAS Group generated sales of 4.58 billion euros and employed more than 19,900 people across Europe. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.

For further information please visit the DOUGLAS Group Website.

Press Contact

Peter Wübben
SVP Group Communications & Sustainability
Phone: +49 211 16847 6644
Mail: newsroom@douglas.de

Investor Contact

Dafne Sanac
Director / Senior Principal Investor Relations
Phone: +49 151 55675545
Mail: ir@douglas.de