WindowMaster International A/S: The profit outlook for 2020 beats forecast and high growth expectations for 2021 confirmed
Despite the exceptional uncertainty caused by the coronavirus pandemic and Brexit – WindowMaster International A/S’s profit outlook for 2020 looks stronger than communicated in the IPO company description published on the 6th of October 2020.
9. december 2020
This positive profit outlook is driven by a higher topline growth than anticipated
for Q4. The higher topline is spread over most markets but with substantial pick
up in the United Kingdom and also increased growth in North America.
Instead of a topline in the range of 185-189m DKK for the full year of 2020 the
outlook is now between 188-192m DKK. As the cost base remains the same as
forecasted profit is also expected to improve. A normalized EBITDA – excluding
non-recurring costs for an ongoing patent case – is expected in the range 13.5-
14.5m DKK – instead of the previously announced 13.5m DKK. Costs for the
patent case are however higher than expected in the previously announced – and
will affect the un-normalized result.
High growth in profitability in 2021
The outlook for 2021 continues to look positive – as described in the company
Topline is expected in the range of 205-215m DKK – excluding acquisitions.
Growth is generated by a return to normal sales levels in Europe and organic
growth in North America. Profitability (EBITDA) is expected in a range of 22-28m
DKK. Included in this profit expectation is also investments in organic growth in
North America, plus impact from significant strengthening of our digital setup both
for marketing, product solutions and processes. Despite these investments we
still expect a strong cash generation during 2021 enabling continued pursuit of
our acquisition strategy with an even stronger financial capacity.
- We generally see some lack of building materials and work resources – and
consequently see finalization of projects being postponed. These effects
have also impacted WindowMasters supply chain and are incorporated in the
above-mentioned. We do foresee a normalization of the conditions in Q2.
- Our increasing backlog and growing pipeline (increasing in numbers and
value) support the topline growth expectations.
- Our strong corporation with partners also supports a solid scalable platform
for profitable growth going forward.
For further information:
CEO, Erik Boyter
M: +45 4035 0267
WindowMaster International A/S
Jesper Skaarup Vestergaard
Direct(+45) 35 27 50 11, Mobile (+45) 31 79 90 00
2100 Copenhagen Ø