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WindowMaster International

865.00 DKK

-1.70 %

Less than 1K followers

WMA

First North Denmark

Industrial Goods & Services

Industrials

-1.70 %
-3.89 %
-7.86 %
+2.73 %
-9.33 %
+6.79 %
+27.58 %
-31.02 %
-8.95 %

WWindowMaster offers advanced ventilation strategies, enabling the construction industry to significantly reduce its carbon footprint. Driven by the purpose ‘To create a better world where every person has fresh air indoors and a safe built environment’, the company develops, manufactures, and distributes facade and roof automation solutions for hybrid ventilation, natural ventilation, and smoke ventilation systems. Over the past four years (2020–2024), WindowMaster has delivered profitable growth with a 12% revenue CAGR, while improving both EBITDA and cash flow. The company’s performance has shown greater resilience than the broader building materials sector, underpinned by its exposure to the more stable renovation segment, the highly regulated smoke control market, and growing investments in the green transition. A disciplined capital allocation strategy has created substantial value through investments in innovation, own production capacity, and the global sales organisation. These initiatives have cemented WindowMaster’s strong market position across core markets in Europe and North America. With a robust platform for both organic and inorganic growth, WindowMaster is well positioned to create long-term shareholder value. In 2025, the company paid its first dividend since the IPO, reflecting its healthy financial foundation and commitment to shareholder value.

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Market cap
127.48M DKK
Turnover
71.58K DKK
Revenue
294.48M
EBIT %
6 %
P/E
1,108.97
Dividend yield-%
-
Coverage
Disclaimer
Michael Friis
Michael Friis

Head of Equities

Latest research

Latest analysis report

Released: 17.12.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar
25.3
2026

Annual report '25

9.4
2026

General meeting '26

6.8
2026

Interim report Q2'26

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WindowMaster: EBITDA guidance upgrade FY2025
Analyst Comment by
Philip Coombes

WindowMaster: EBITDA guidance upgrade FY2025

WindowMaster has upgraded its 2025 EBITDA guidance to DKK 26.5-27.5m (from DKK 23-26m previously and DKK 37.3m in 2024), driven by strong December performance across all markets. Revenue is revised to the lower end of guidance at DKK 269-270m (from DKK 268-275m previously), suggesting margin improvements stem not only from operating leverage but also a favourable product mix and tight cost control. The implicit 2025E EBITDA margin has risen to around 10% (from 8.3-9.7% previously). Notably, 2025 results were burdened by non-recurring costs of DKK 3.5-4.0m that will not repeat.

WindowMaster International
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