WindowMaster (One-pager): Growth momentum underlined by a record high order intake
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WindowMaster closed last week with a guidance upgrade, leading to a 22% increase in its share price on Friday. We have updated our investment case one-pager based on the new numbers and recent share price development.
Besides looking into the investment case with key investment reasons and risks, we have updated the peer group with valuation multiples compared to other construction/building-related companies. WindowMaster trades at 5.1x EV/EBITDA (2024E) based on the guidance midrange vs. a construction/building-related peer group median of 9.5x EV/EBITDA (2024E) based on Capital IQ data.
HC Andersen Capital receives payment from WindowMaster for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 08:00, 10 June 2024.
WindowMaster International
WindowMaster er en dansk clean tech virksomhed, der leverer bæredygtige indeklimaløsninger baseret på intelligent naturlig og blandet ventilation samt varme- og røgventilationsløsninger. Løsningerne er til kommerciel brug, primært i følgende seks segmenter: 1) Kontor, 2) Uddannelsesinstitutioner, 3) Kulturbygninger, 4) Shoppingcentre, 5) Hospitaler og 6) Idrætsfaciliteter. I 2015 blev WindowMaster opkøbt af den nuværende majoritetsaktionær og administrerende direktør, Erik Boyter, i et management buy-in. I dag er virksomheden en global virksomhed med salgsdatterselskaber i Danmark, Tyskland, Irland, Norge, Storbritannien, USA og Schweiz. Virksomheden har været noteret på Nasdaq First North i Danmark siden oktober 2020.
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