WindowMaster International A/S: WindowMaster publishes Annual Report for 2021 in accordance with guidance

25. marts 2022

Company Announcement No. 025-2022

Vedbæk, March 25, 2022

Today, the Board of Directors of WindowMaster International A/S has adopted the Annual Report for 2021.

2021 Highlights

  • Revenue at DKK 211.4 million for FY 2021, which is an increase of 11.8% compared to FY 2020 of DKK 189 million.
  • Overall strong activity seen in 2021 in all markets with a record high order intake – reaching DKK 224 million for FY 2021, which is an increase of 14% compared FY 2020.
  • Normalized EBITDA resulted at DKK 14 million end of year

2022 Outlook

Despite high uncertainty in electronic component supply and significant cost increases related to the supply chain situation the outlook remains positive for 2022. Turnover is expected in the range of 220-235 million DKK (10% organic growth).

Growth is generated by general market growth on existing markets due to the green agenda but also an extension of activity into more contracting business and is supported by continued high Order Intake into 2022.

WindowMaster possesses strong knowledge of integrating and controlling different building automation solutions (solar shading, Hybrid ventilation, Natural ventilation, etc.) with the companies control systems. Hence, WindowMaster will harvest more growth on core business adding consultant and project management hours sold with the objective to obtain the perfect indoor climate in buildings

EBITDA is expected in the range of 13-18 million DKK unchanged from announcement no. 020 on 7 December 2021.

In connection with the release of the Annual Report for 2021, a video call for investors and analysts is scheduled for 28 March at 2:30 pm CET. CEO and major shareholder, Erik Boyter and CFO, Steen Overgaard Sørensen will present the annual report. The presentation will be followed by a Q&A session. Investors and analysts are invited to participate via:

For further information:

CEO, Erik Boyter

M: +45 4035 0267

WindowMaster International A/S
Skelstedet 13
2950 Vedbæk


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