WindowMaster (One-pager): Third guidance upgrade in 2024
Yesterday, WindowMaster announced its third guidance upgrade for 2024. The company now expects an organic revenue growth rate in the range of 13-18% and an EBITDA margin in the range of approx. 11-13%.
Accordingly, we have updated our investment case one-pager based on the new guidance ranges. Besides looking into the investment case with key investment reasons and risks, we have updated the peer group with valuation multiples compared to other larger construction/building-related companies. WindowMaster now trades to 5.3x EV/EBITDA (2024E) based on the midpoint in the guidance range vs. the peer group median of 9.1x EV/EBITDA (2024E) based on Capital IQ analyst estimates.
HC Andersen Capital receives payment from WindowMaster for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 08:00, 10 October 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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