WindowMaster: Narrows guidance range upwards due to strong start of 2024
This morning, WindowMaster has adjusted its 2024 expectations on the back of a strong order intake in the first quarter of 2024.
WindowMaster now expects revenue to grow 7-11% in 2024, reaching DKK 255-265m (previously approx. 5-10% growth with a revenue of DKK 240-265m). EBITDA is now expected to reach DKK 25-29m realizing a margin of 10-11% (previously DKK 23-29m with a margin of 9-11%).
The order intake reached a record high level by the end of Q1, amounting to DKK 74m for Q1 2024 and DKK 268m 12-month-running. This represents a growth of 24% for the quarter and 10% for the 12-month-running. The strong momentum is coming from all WindowMaster's main markets (except the Nordics) and is mainly driven by its project business. WindowMaster also states that they see some improvements from key accounts, indicating the softness in markets from the high-interest environment is abating.
Margins could be further increased going forward, as the project business drives a good part of the growth. The company stated in the FY 2023 report that margins are strong if they use the capacity better in this business. That could be the case, as the company delivers preliminary Q1 2024 revenue growth numbers with a growth rate of 18% YoY based on the internal reporting revenue.
Read the full announcement here: https://www.inderes.dk/releases/windowmaster-international-as-windowmaster-narrows-the-2024-guidance-in-the-high-end-of-the-previous-announced-range
HC Andersen Capital receives payment from WindowMaster for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis 08:38, 12 April 2024.
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WindowMaster International
WindowMaster is a Danish clean tech company that supplies sustainable indoor climate solutions based on intelligent natural and mixed mode ventilation as well as heat and smoke ventilation solutions. The solutions are for commercial use, primarily in the following six segments: 1) Office, 2) Education institutions, 3) Cultural buildings, 4) Shopping centers, 5) Hospitals and 6) Sports facilities. In 2015, WindowMaster was acquired by the current majority shareholder and CEO, Erik Boyter, in a management buy-in. Today, the company is a global company with sales subsidiaries in Denmark, Germany, Ireland, Norway, United Kingdom, United States, and Switzerland. The company has been listed at Nasdaq First North in Denmark since October 2020.
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