WindowMaster International (WMA) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 increased by 22% year-over-year to DKK 140.0m, reflecting strong growth.

• Gross profit rose 28% to DKK 65.7m, with gross margin improving to 46.9% from 44.7% in H1 2023.

• EBITDA surged 459% to DKK 17.0m, with EBITDA margin expanding to 12.1%.

• Profit after tax turned positive at DKK 1.8m, compared to a loss of DKK 8.6m in H1 2023.

• Operating profit improved to DKK 7.1m in H1 2024 from a loss of DKK 6.6m in H1 2023.

Financial highlights

• Order intake for the last 12 months reached DKK 278m, up 15% year-over-year.

• Cash flow from operations improved significantly to DKK 16.1m, up 315% from H1 2023.

• Net working capital decreased by 24% to DKK 34.8m.

• Total assets stood at DKK 154.7m at June 30, 2024, up from DKK 150.0m a year earlier.

• Cash and cash equivalents increased to DKK 11.4m at period end, compared to DKK 3.6m in H1 2023.

Outlook and guidance

• 2024 outlook maintained, with expectations to end at the high end of revenue (DKK 265-275m) and EBITDA (DKK 28-33m) guidance ranges.