WindowMaster International A/S: WindowMaster adjusts guidance for Revenue and EBITDA for 2025 with Revenue of DKK 270-290m and EBITDA of DKK 22-27m

Company Announcement No. 056 - 2025

Inside Information

Preliminary review of the financial performance of the 1st half of 2025 indicates that it will be challenging to meet the expected performance for 2025 as indicated in the latest guidance 052-2025

Management has therefore set new guidance for 2025. Revenue is now expected to reach between DKK 270-290m (previous expectations was DKK 290-310m) and EBITDA is expected around DKK 22-27m - equivalent to an EBITDA-margin of 8-9% (previous expectations was DKK 36-41M equivalent to an EBITDA-margin of 12-13%).

The reasons for the downward adjustment are the following:

• Lower Order intake in especially end of 2024 and into 1^st quarter of 2025 - which was not compensated by additional Product Order Intake.
• Less project execution in first half of 2025 - including delayed projects. There has been geopolitical unrest and many decisions on projects have been delayed - but we are starting to see this diminished. Project pipeline remains strong and growing - but had a slow start in 2025. The 2nd half of 2025 is expected to be higher than first half - but is for now not expected to close the gap from 1^st half.
• One off negative effect from IT-network breakdown in end of May - affected fixed cost (and therefor EBITDA) negatively with DKK 2.0m. On top of that some IT-infrastructure and firewall investments have been speeded up. The breakdown did not affect operations.
• One off cost in restructuring and recruitment of the Tier 2 management team.

The outlook for the rest of 2025 and 2026 remains positive with significant growth potential in especially project business - with increased number and size of projects in all markets. It is expected to be on target for strategy period ending in 2026.

The final half year financial statement will be published on the 14^th of august 2025.

For further information:

CEO, Erik Boyter
M: [phone]
Mail: [e-mail]
WindowMaster International A/S
Skelstedet 13
2950 Vedbæk
Denmark

Certified Advisor

Grant Thornton
Jesper Skaarup Vestergaard
M: [phone]

Stockholmsgade 45, 2100 Copenhagen Ø, Denmark