WindowMaster – Presentation of H1 2026 Interim Report

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WindowMaster is expected to release its H1 2026 interim report on August 21, 2026. The same day at 13:00 CEST, CEO Erik Boyter and CFO Steen Overgaard Sørensen will present the results and answer questions in a live online event.

Since the FY 2025 report, WindowMaster has adjusted its 2026 guidance, now expecting revenue of DKK 285–305 million (previously DKK 290–310 million) and EBITDA of DKK 30–40 million (previously DKK 45–55 million), corresponding to an EBITDA margin of 11–13% versus 16–17% previously. The adjustment, announced 13 May 2026, still implies EBITDA growth of 7–43% versus 2025.

Management attributed the revision to weather-delayed activity in the building industry across Europe in Q1, rather than to any structural weakness. Management supported this by the fact that order intake continues to grow on a rolling 12-month basis, driven by the Buildings segment, which more than compensates for softer trends in Products, gross margin remained strong on the underlying business mix. They therefore stated that the outlook for 2027 remains unchanged, with the new louvre-systems product line highlighted as a specific upside within Buildings.

The order flow since the guidance adjustment lends some support to that framing. WindowMaster has announced an exclusive Fieger louvre partnership with Crossflow in Ireland, a major control-system upgrade contract in the Netherlands, its first Fieger louvre order in Norway, and a SHEV order for an 11-story residential development in Copenhagen, all within Buildings, and three of the four tied directly to the expanding Fieger louvre network. Taken together, they are consistent with management's message that underlying order momentum in Buildings has held up even as the timing of revenue recognition has slipped.

In addition to the H1 financial results, focus may be directed toward how the Buildings/Products split has developed through Q2, whether the weather-related delays from Q1 have eased, early traction from the louvre-systems pipeline, and how much of the revenue pushed into 2027 is now visible in the order book. Commentary on the timing of the upcoming 2027–2030 strategy update, expected in H2 2026, could also draw attention, alongside the trajectory of NIBD/EBITDA given the lower EBITDA guidance.

WindowMaster is a Danish clean-tech company specializing in intelligent natural and smoke ventilation solutions for buildings, including actuators, controllers, and software. Founded in 1990, the company operates a global supply chain with production in Germany and sales subsidiaries across Europe and the US.

Disclaimer: HC Andersen Capital receives payment from WindowMaster for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis, 15:56, 07/07/2026.