Mendole A/S
Company Announcement No. 16
25 August 2026
Mendole A/S ("Mendole" or the "Company") (Spotlight: MENDO-ST) today publishes its Interim Report for the second quarter and first half of 2026 (1 January - 30 June 2026).
H1 2026 highlights (Group)
· Revenue of DKK 65.5 million (H1 2025: DKK 58.9 million), an increase of approximately 11% year-over-year
· EBITDA of DKK -3.4 million (H1 2025: DKK +0.8 million), reflecting a slow, cost-heavy start to the year driven by a soft early-season market and geopolitical disruptions
· Net result of DKK -5.0 million (H1 2025: DKK -1.3 million)
· Equity ratio of 11% at 30 June 2026 (30 June 2025: 15%)
· Within the half-year the trend improved: Q2 2026 EBITDA was approximately DKK -1.1 million and net result approximately DKK -2.0 million, both better than Q1 2026
· Order intake is strong and the outlook for the remainder of the year is positive
Full-year guidance maintained (standalone)
Management maintains its full-year standalone guidance for 2026:
· Revenue: DKK 125-155 million
· EBITDA: DKK 6.0-8.0 million
The guidance is supported by the present order book, continued order intake, improved purchasing terms and the efficiency measures already implemented. It remains subject to the usual uncertainty in project timing and input costs.
Rebo acquisition and capital raise
As disclosed in Company Announcement No. 14 of 31 July 2026, Mendole has entered into a conditional agreement to acquire Rebo A/S, a company within plumbing, renovation and relining. Completion of the acquisition is subject to the successful completion of the planned capital raise and to the closing of the transaction proceeding as planned, expected by 15 September 2026 with economic effect from 1 January 2026.
The planned capital raise, which has previously been announced, is intended to finance the acquisition and strengthen the Group's liquidity. The capital raise is subject to approval at the extraordinary general meeting to be held on 28 August 2026. The terms of the capital raise, including size, price and timing, have not yet been determined and will be disclosed in a separate announcement in due course.
Pro forma 2026 (illustrative - including Rebo)
As previously disclosed in Company Announcement No. 14 of 31 July 2026 and set out in the Interim Report Q2 2026, the Company also reports illustrative pro forma figures showing the scale of the combined platform as if Rebo A/S had been owned for the full year:
· Pro forma revenue: DKK 300-350 million
· Pro forma EBITDA: DKK 30-40 million
The pro forma figures are illustrative only. They are conditional on completion of the capital raise and on the closing of the Rebo acquisition proceeding as expected. The reported 2026 Group accounts will consolidate Rebo only from the closing date and will therefore be materially below the pro forma figures. At closing, the Company will issue consolidated guidance for the reporting period.
CEO Dan Lauritzen comments:
"The first half was operationally demanding, with a slow and cost-heavy start to the year weighing on activity and margins. Towards the end of the second quarter our corrective actions on calculation, project management, purchasing terms and cost base began to come through, and the underlying trend improved within the half-year. Order intake is strong and our outlook for the remainder of 2026 is positive. We are acting deliberately on liquidity and margin recovery as the increased activity converts into cash over the coming quarters."
The full Interim Report Q2 2026 is attached to this announcement and available at www.mendole.com. For further information, please contact:
Dan Lauritzen, CEO
Mendole A/S
Tel: +45 7272 7241
Email: investor@mendole.com
About Mendole A/S
Mendole A/S is a Danish buy-and-build platform in technical property services, listed on Spotlight Stock Market (ticker: MENDO-ST). The Company operates across roofing, roof maintenance, energy services, electrical installations, and LED lighting solutions through its subsidiaries. With more than 85 employees, Mendole delivers integrated solutions as a one-stop shop for commercial and industrial property owners in Denmark. The Company is headquartered in Hedehusene, Denmark.
Mendole A/S | CVR No. 44010259 | Guldalderen 13, DK-2640 Hedehusene | www.mendole.com
This information is such information that Mendole A/S is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication, through the agency of the contact person set out above, on 25 August 2026.