Hove (HOVE) investor relations material

Executive summary

• Achieved record H1 2026 revenue of DKK 150.1M, up 39% year-over-year, driven by strong demand in the wind turbine sector and favorable USD exchange rates.

• Launched new products, including a newly developed pump and automated lubrication equipment, securing key commercial orders.

• Subsidiaries in the Americas, India, and Turkey all contributed positively, with Turkey returning to growth.

Financial highlights

• Revenue rose to DKK 150.1M from DKK 108.3M in H1 2025, gross profit increased to DKK 49.0M, but gross margin declined to 32.6% from 35.9%.

• EBITDA grew 48% to DKK 19.6M, EBIT up 53% to DKK 18.6M, and net profit surged 84% to DKK 15.3M year-over-year.

• Cash flow from operations was DKK 5.2M, with total net cash flow positive at DKK 4.6M.

• Solvency ratio stood at 69% at period end.

Outlook and guidance

• Revenue guidance for FY 2026 raised to DKK 230–250M (from DKK 210–240M), EBITDA guidance maintained at DKK 22–29M.

• Ongoing investments in production capacity and facilities, with new automated production line in Denmark and factory in India expected to be operational in Q3 2026.