Annonce • Apr 10
WindowMaster International A/SAnnounces Board Changes WindowMaster International A/S at its Annual General Meeting was held on 9th April 2026, approved that Mette Søs Lassesen did not seek re-election to the Board. Further, it was proposed to elect Tine Scharf as a new member of the Board of Directors. Information regarding the proposed board members’ directorships and executive positions in other commercial enterprises was presented. In respect to the proposed new board member, Tine Scharf, it was noted that she is an international senior leader and management consultant with extensive experience in business development and growth strategies. She has advised traditional large corporate suppliers as well as cleantech scale-ups across the building and construction industry and value chain. Her strategic advisory focuses on accelerating growth by integrating market strategy, innovation, and sustainability into scalable commercial approaches and effective go-to-market models. Tine Scharf is currently engaged as Global Director Business Strategy and Global Director Financial Investors & Foundations at Ramboll Management Consulting and as Board Vice Chair at Danish Industry. Tine Scharf has previously held roles as Director Strategic Sustainability Consulting DK & FI at Ramboll Management Consulting and has been employed with Roland Berger Strategy Consultants between 2010 and 2013. Tina Scharf holds a Master's degree from London Metropolitan Business School and a Bachelor's degree from Bremen University of Applied Sciences. Annonce • Nov 13
WindowMaster International A/S, Annual General Meeting, Apr 09, 2026 WindowMaster International A/S, Annual General Meeting, Apr 09, 2026. Annonce • Aug 18
WindowMaster International A/S Releases New Firmware Enabling NV Embedded System to Run on FlexiSmoke WindowMaster International A/S has launched firmware version 2.03 for WSC 5xx panels, making it possible for the NV Embedded system to operate seamlessly on FlexiSmoke panels. This new capability combines the proven flexibility of WindowMaster's smoke ventilation panels with advanced natural ventilation and indoor climate control. The integration enables building owners and facility managers to create smarter, safer environments with optimized indoor air quality, while maintaining full compliance with smoke ventilation regulations. The upgrade means that customers can now benefit from: Dual functionality in a FlexiSmoke(TM) panel - smoke ventilation and natural ventilation; Optimised energy efficiency by using automated window control for both safety and comfort purposes; Reduced installation and maintenance costs due to streamlined panel configuration; Future-ready buildings that adapt to evolving sustainability and safety requirements. This firmware update is part of WindowMaster's ongoing commitment to deliver integrated, intelligent building solutions that enhance safety, comfort, and energy performance. Firmware 2.03 is available now for all WSC 5xx FlexiSmoke(TM") panels through WindowMaster's support and distribution channels. Annonce • Aug 16
Windowmaster International A/S Reaffirms Earnings Guidance for Year 2025 and Provides Earnings Guidance for Year 2026 WindowMaster International A/S reaffirms earnings guidance for year 2025 and provided earnings guidance for year 2026. For year 2025 company's Revenue is expected to be in the range of DKK 270 million-290 million.
For year 2026 company have positive outlook on opportunity pipeline gives confidence for the rest of year and into 2026. Annonce • Aug 08
Windowmaster International A/S Presents A New EN Certified Smoke Evacuation System WindowMastera announced a new collaboration with leading UPVC supplier VEKA. The collaboration involves certifying smoke ventilation windows using the latter's systems by EN 12101-2, enabling these systems to comply with UK law. To enhance the Halo System 10 and M70 window systems, VEKA profiles are being utilised in collaboration with approved VEKA partners, Teal Products, and L J Pratley & Partners. Each system will be fitted with WindowMaster's proprietary actuators for smoke control. It will therefore be easier to specify and install VEKA-manufactured solutions within this market in the future. This also offers significant advantages to window fabricators, who will be able to sell UPVC systems for smoke ventilation. This collaboration complements WindowMaster's extensive list of solutions and strengthens the position in the UK market even further.All new customer agreements and orders with a total value of DKK 1m or more are communicated to the market, as long as these do not change the expectations communicated. The company develop, maintain and upgrade buildings helping building stakeholders in creating the best ventilation solutions for their specific building. the companies are in control of projects as the main integrator or through integrator partners. Products are sold both for distribution and to manufacturers in the fenestration industry, who then integrate them into their solutions. The company provide safety equipment and maintenance through Climatic by WindowMaster for the built environment. This mainly consists of fall safety solutions and access equipment. The company communicate about the categories New Product or System Test Certification, New Market Established or New Product Launch. Annonce • Jul 15
WindowMaster International A/S Updates Earnings Guidance for the Year 2025 WindowMaster International A/S announced that preliminary review of the financial performance of the 1st half of 2025 indicates that it will be challenging to meet the expected performance for 2025 as indicated in the latest guidance. Management has therefore set new guidance for 2025. Revenue is now expected to reach between DKK 270 million - DKK 290 million (previous expectations was DKK 290 million- DKK 310 million). The reasons for the downward adjustment are the following: Lower Order intake in especially end of 2024 and into 1st quarter of 2025 - which was not compensated by additional Product Order Intake. Less project execution in first half of 2025 - including delayed projects. There has been geopolitical unrest and many decisions on projects have been delayed - but they are starting to see this diminished. Project pipeline remains strong and growing - but had a slow start in 2025. The 2nd half of 2025 is expected to be higher than first half - but is for now not expected to close the gap from 1st half. One off negative effect from IT-network breakdown in end of May - affected fixed cost (and therefor EBITDA) negatively with DKK 2.0 million. On top of that some IT-infrastructure and firewall investments have been speeded up. The breakdown did not affect operations. One off cost in restructuring and recruitment of the Tier 2 management team. The outlook for the rest of 2025 and 2026 remains positive with significant growth potential in especially project business - with increased number and size of projects in all markets. It is expected to be on target for strategy period ending in 2026. Annonce • Jul 08
WindowMaster International A/S Officially Completes EN- Test for AW RO 50 Profiles WindowMaster announced that the testing process for the Schuco AW RO 50 profile with selected WindowMaster(TM) actuators, in accordance with EN 12101-2 for smoke and heat exhaust ventilation (SHEV) systems, exceeded all expectations. The testing process was officially completed and certified last week, meaning that WindowMaster can now provide an EN 12101-2 compliant SHEV solution for roofs wherever the AW RO 50 profile is required. This solution is typically used for thermal fire ventilation in industrial halls, schools and other commercial buildings. However, as it is also approved for hybrid ventilation, it is possible to achieve dual functionality from the roof openings. In other words, with this solution, can have a complete fire and hybrid ventilation system using the same opening with an AW 50 profile and a WindowMaster(TM) actuator. Annonce • May 21
WindowMaster International A/S Launches 6 Amp CompactSmoke™? Panel for Both Smoke and Comfort Vent Ventilation WindowMaster International A/S launched the new smoke control panel WSC 106 which delivers essential smoke and comfort ventilation - all in one compact panel. The launch of the WSC 106 strengthens WindowMaster's position both as a product manufacturer and product integrator enabling more options to customize ventilation system for new build or renovation projects. All new customer agreements and orders with a total value of DKK 1 million or more are communicated to the market, as long as these do not change the expectations communicated. Annonce • Apr 03
WindowMaster International A/S announces Annual dividend, payable on April 15, 2025 WindowMaster International A/S announced Annual dividend of DKK 0.4100 per share payable on April 15, 2025, ex-date on April 11, 2025 and record date on April 14, 2025. Annonce • Feb 28
WindowMaster Launches New WML 870 Louvre Actuator WindowMaster International A/S is launching a new compact and powerful louvre actuator - the WML 870. The actuator is designed to meet the needs of modern façade projects, whether it is new builds or retrofits. With its slim design, it is ideal fornarrow profiles, ensuring stable and precise operation of louvre windows. The WML 870 actuator can be used for comfort ventilation and have both MotorLink® and TrueSpeed(TM) technology. Annonce • Jan 18
WindowMaster International A/S Revises Revenue Guidance for the Year 2024 WindowMaster International A/S revised revenue guidance for the year 2024. For the year, the company expects to be in the range of DKK 292.5 million -293.5 million (previous expectation: DKK 283million -286 million). The improvements relate to all markets but especially United Kingdom and North America had a strong December and reflects strong project execution of the new strategy ‘Accelerate Core’ that was launched in the Summer of 2022. Annonce • Dec 14
WindowMaster International A/S Proposes Dividend for the Year 2024 The board of directors of WindowMaster International A/S expected to propose that a total dividend of DKK 5 million is paid out for 2024 (DKK 0.34 per share) based on the expected result and capital structure at the end of 2024. Annonce • Oct 09
Windowmaster International A/S Revises Revenue Guidance for 2024 WindowMaster International A/S revised revenue guidance for 2024. Based on the positive year-to-date September 2024 internal financial reporting showing revenue growth of 21% year-on-year, the outlook for 2024 has improved relative to the latest published guidance (No. 046-2024 Vedbaek, 7 June 2024). Revenue in 2024 is now expected to increase to DKK 270 million-280 million from DKK 265 million- DKK 275 million, equivalent to approximately 13-18% organic growth against 11-16% as provided earlier. Annonce • Jun 08
WindowMaster International A/S Increases Earnings Guidance for the Year 2024 WindowMaster International A/S increased earnings guidance for the year 2024. For the period, Revenue is now expected to increase to DKK 265 million to DKK 275 million, equivalent to approximately 11%-16% organic growth against previous guidance of DKK 255 million to DKK 265 million. New Risk • Jun 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 69% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€10.0m market cap, or US$10.9m). Annonce • Apr 23
WindowMaster International A/S Announces Change in Board Leadership WindowMaster International A/S announced a change in the company's board of directors in connection with the Annual General Meeting. After years of dedicated service and remarkable cooperation, Michael Gaarmann is stepping down as deputy chairman. extend heartfelt gratitude to Michael for his invaluable contributions to WindowMaster. Nina Ringen, an esteemed and highly experienced attorney-at-law and partner at Lundgrens, will replace Michael as deputy chairman. The board of directors consists of Chairman Lars Fournais, Deputy Chairman Nina Ringen, Mette Søs Lassesen, Leif Jensen, and Erik Boyter. New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 69% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (€10.7m market cap, or US$11.4m). Annonce • Apr 13
Windowmaster International A/S Provides Revenue Guidance for the Full Year 2024 WindowMaster International A/S provided revenue guidance for the full year 2024. Revenue is expected to grow to DKK 255-265 million, equivalent to approximately 7-11% organic growth (previously announced 5-10%). Reported Earnings • Mar 24
Full year 2023 earnings released Full year 2023 results: Revenue: kr.238.0m (down 1.4% from FY 2022). Net loss: kr.11.1m (down kr.11.3m from profit in FY 2022). New Risk • Mar 04
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr.7.0m free cash flow). Earnings have declined by 46% per year over the past 5 years. Market cap is less than US$10m (€8.57m market cap, or US$9.29m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Annonce • Feb 23
WindowMaster International A/S Launches New UL-Certified Motor Controller WindowMaster International launched WCC 106 UL MotorController. Specifically developed in response to requests from the North American commercial construction industry, the new MotorController has been tested and approved in accordance with the UL certification. With the ability to control two different motor groups across two rooms, the product optimises ventilation systems, reduces drafts, and lowers the need for artificial cooling. The WCC 106 UL MotorController will be available on the market by the end of February. New Risk • Oct 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €9.18m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr.7.0m free cash flow). Earnings have declined by 46% per year over the past 5 years. Market cap is less than US$10m (€9.18m market cap, or US$9.79m). Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Reported Earnings • Aug 21
First half 2023 earnings released First half 2023 results: Revenue: kr.114.6m (down 2.6% from 1H 2022). Net loss: kr.6.28m (loss widened kr.5.43m from 1H 2022). New Risk • Aug 18
New major risk - Revenue and earnings growth Earnings have declined by 46% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr.7.0m free cash flow). Earnings have declined by 46% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (€11.4m market cap, or US$12.4m). Annonce • Aug 18
Windowmaster International A/S Provides Earnings Outlook for the Year 2023 WindowMaster International A/S provided earnings outlook for the year 2023. For the period, the company's Revenue is still expected to be in the range of DKK 240-250 million. Annonce • May 13
WindowMaster International A/S Decreases Revenue Guidance for 2023 WindowMaster International A/S decreased revenue guidance for 2023. For the period, the company expects revenue guidance of DKK 240 million to DKK 250 million. Previous guidance 2023 (Published on 7 December 2022) is DKK 260-270 million. Reported Earnings • Mar 06
Full year 2022 earnings released Full year 2022 results: Revenue: kr.241.4m (up 14% from FY 2021). Net income: kr.201.4k (up kr.2.15m from FY 2021). Profit margin: 0.1% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Mette Lassesen was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Jan 13
WindowMaster International A/S to Report Fiscal Year 2022 Results on Mar 02, 2023 WindowMaster International A/S announced that they will report fiscal year 2022 results on Mar 02, 2023 Annonce • Aug 19
WindowMaster International A/S Provides Earnings Guidance for the Year 2022 WindowMaster International A/S provided earnings guidance for the year 2022. The outlook for 2022 is maintained. Revenue is still expected to be in the range of DKK 220 million-DKK 235 million. However, based on the developments in Q2, both revenue and EBITDA are now expected to be in the upper end of the guided ranges. Annonce • Dec 08
WindowMaster Provides Earnings Guidance for the Year 2021 and 2022 WindowMaster provided earnings guidance for the year 2021 and 2022. For the year 2021, the company expects to have a full-year record-high turnover of around DKK 210 million. Outlook for full-year 2021 matches the forecast and expectations in the Company announcement number 19 from 12 October 2021.For the year 2022, the company expects turnover is expected in the range of DKK 220-235 million (10% growth). Annonce • Apr 20
WindowMaster International A/S Provides Earnings Guidance for the Year 2021 WindowMaster International A/S provided earnings guidance for the year 2021. The outlook for 2021 of turnover in the range of DKK 205 million - DKK 215 million remains unchanged compared to company announcement no. 7 of 9 December 2020. 
