WindowMaster International (WMA) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 was DKK 124m, down from DKK 140.0m in H1 2024.

• EBITDA for H1 2025 was DKK 1.9m, a significant decline from DKK 17.0m in H1 2024.

• Net result after tax for H1 2025 was DKK -8.5m, compared to DKK 1.8m in H1 2024.

• Operating profit swung to a loss of DKK 7.3m in H1 2025 from a profit of DKK 7.1m in H1 2024.

• Equity decreased to DKK 23.6m at June 2025 from DKK 27.7m a year earlier.

Financial highlights

• Gross profit for H1 2025 was DKK 53.7m, down from DKK 65.7m in H1 2024.

• Gross margin decreased to 43.4% from 46.9% in H1 2024.

• Cash flow from operations was negative at DKK -0.4m, compared to DKK 10.3m in H1 2024.

• Return on equity was -33.2% in H1 2025, down from 14.7% in H1 2024.

• EBITDA margin for H1 2025 was 1.5%, down from 12.1% in H1 2024.

Outlook and guidance

• 2025 revenue guidance was reduced to DKK 270-290m.

• EBITDA guidance for 2025 is now DKK 22-27m.