REG - Windar Photonics PLC - Trading Update and First Discreet Software Order

Windar PhotonicsAnnouncement

24/03/2025 07:00

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RNS Number : 7573B  Windar Photonics PLC  24 March 2025

24 March 2025

Windar Photonics plc
("Windar" or the "Company")

 

Trading Update and First Discreet Software Order

 

Windar Photonics plc (AIM: WPHO), the technology group that has developed a
LiDAR assisted Monitoring and Optimization solution across multiple wind
turbine platforms, is pleased to update the market on its expectations for the
year to 31 December 2024 and current trading.

 

The Company has realised record revenue for 2024 of €5.7m representing
growth of over 20% on 2023. This result was achieved despite deliveries of
c€1.4m contracted for delivery in late 2024 being delayed into 2025 at the
request of the customer. As a direct result of these delays EBITDA will now be
at the bottom end guidance given in November 2024 at c€0.4m, but which also
reflects a higher gross margin, supported by the contribution of first
software sales.

 

The combination of this rephasing into 2025 and the significant order for the
US market announced on 18 December 2024 will contribute to expected strong
trading in the first half of 2025, with highly encouraging progress also being
made towards converting the targeted short / medium term order pipeline across
each of North America, Europe, Asia and Australasia.

 

Additionally, the Company is pleased to announce a third order for the Windar
Nexus OS (Operating System), initially launched in 2024. This order marks a
further milestone as the first pure software deployment in the Company's
history, with initial revenue and gross margin impact in the six digit euro
range. The order comes from an existing customer and is a positive step
towards Windar's vision of becoming a leading provider of Turbine Optimization
and Monitoring solutions with transition towards achieving significant
recurring revenues.

 

The Company has recently initiated its first major test with a large
Continental European independent power producer involving offshore wind
turbines, the Company's first offshore deployment outside Asia.

 

Excellent progress is also being made in strengthening Windar's commercial and
other key internal resources to support delivery of the Company's strategy and
opportunity.

 

The positive developments noted above combined with the Company's
oversubscribed £5.9m placing in December 2024 leave the Company well placed
for future development and the Board anticipates further positive updates.

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended. Upon the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

For further information, please contact:

 

 Windar Photonics plc
 Jørgen Korsgaard Jensen, CEO                      Tel: +45 24234930
 Gavin Manson, Director

 Grant Thornton UK LLP - Nominated Adviser
 Philip Secrett / Harrison Clarke / Elliot Peters  Tel: +44 (0) 20 7383 5100

 Dowgate Capital - Broker
 James Serjeant / Russell Cook                     Tel: +44 (0) 20 3903 7715

 

 

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