Rovsing (ROV) investor relations material

Strategic positioning and market environment

• Recognized as a European leader in spacecraft hardware and software testing equipment, supporting critical missions like Artemis and Galileo 2nd Generation.

• Benefiting from record-high ESA and EU budgets, with Denmark tripling its ESA commitment and a 32% overall ESA budget increase for 2026–2028.

• Strong pass-through of ESA budget growth to Danish industry, enhancing competitive positioning and contract opportunities.

• Supports institutional, commercial, and military space programs, ensuring mission reliability and performance.

• Tier 1 supplier to major aerospace primes and agencies, including Thales Alenia Space, NASA, Airbus, and Boeing.

Financial performance and turnaround

• Completed a business turnaround, stabilizing financial performance and setting a foundation for growth.

• H1 2025/26 revenue was DKK 13.4m, down 23% year-over-year, with EBITDA at DKK -3.6m due to project delays and higher costs.

• One-off effects of DKK 2.5m in H1 2025/26 from project reviews and closure of Kourou activities; further impacts not expected.

• Order backlog stable at DKK 33.1m as of December 2025, with a positive outlook for growth.

• Maintains a book-to-bill ratio above 1, supporting revenue visibility and long-term growth.

Growth strategy and capital raise

• Raising DKK 10.4m through a fully guaranteed rights issue to invest in growth, strengthen the balance sheet, and improve working capital.

• Proceeds allocated: ~40% to growth investments, ~40% to working capital, ~20% to improving capital structure.

• Capital raise aims to capitalize on record ESA and Danish budgets, increase operational flexibility, and reduce debt.

• Strategic investments and organizational strengthening to enhance ability to win high-value and military contracts.

• Focused marketing and sales initiatives to expand the order backlog and support profitable expansion.