WindowMaster: Strong results across the board in H1 2024
Today, WindowMaster has reported its H1 2024 report with significant revenue growth, record high order intake, and significantly improved profitability.
In H1 2024, revenue increased by 22% to DKK 140m, order intake (on a 12-month running basis) increased by 15% to DKK 278m, and EBITDA increased to DKK 17m (DKK 3.7m in H1 2023). The EBITDA margin improved to 12.1% (3.2% in H1 2023). Result after tax was DKK 1.8m (DKK -8.6m in H1 2023), and cash flow from operations also improved significantly to DKK 16.1m (DKK 5.1m in H1 2023).
As a result of the positive development, WindowMaster is making a precision of its earlier upgraded 2024 guidance ranges (from 7 June 2024), as WindowMaster now expects to reach the high end of the revenue range of DKK 265-275m and the high end of the EBITDA range of DKK 28-33m.
This is supported by comments about high market activity with demand driven by investments in energy-efficient solutions and environmental regulations in the EU and the US. WindowMaster also highlights that the market for green technology is very attractive in the US with high activity.
Later today at 1:30 p.m., WindowMaster’s management will present the financial results and market outlook in an online live event. Sign up and ask questions here: https://www.inderes.dk/videos/windowmaster-praesentation-af-h1-2024
HC Andersen Capital receives payment from WindowMaster for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 12:09, 16 August 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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