WindowMaster H1 2022 – Revenue and EBITDA guidance intervals maintained and now expected to be in the upper end
In H1 2022, WindowMaster’s order intake was historically high at DKK 143.7 million, up 25% compared to H1 2021. Revenue increased 10% YoY to DKK 117.8 million, and EBITDA was DKK 6.4 million (DKK 5.5 million in H1 2021).
The positive development is driven by price actions in Q2 which has mitigated cost inflation in Q1. Additionally, market activity is high with demand fueled by EU’s Green Deal and the REPowerEU plan. The company also reports good traction in the US market with a 96% increase in the order intake in H1 2022 compared to H1 2021. This could be further fueled by Biden’s climate agenda.
Full-year revenue guidance of DKK 220-235 million and EBITDA guidance of DKK 13-18 million are maintained, however, the company now expects to reach the upper end of the intervals.
Overall, the results and momentum are also boding well for its newly launched 2025 strategy. The strategy includes financial targets with organic growth between 10-15% annually from 2021 to 2025 and an EBT margin of minimum 10% in 2025 (EBITDA margin of approx. 15%).