Rovsing

Earnings Release • Dec 22, 2025

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Revised guidance for the financial year 2025/26

The Board of Directors of Rovsing A/S has today reviewed and approved an updated guidance for the financial year 2025/26 (1 July 2025– 30 June 2026).

Revenue and EBITDA trailing expectations with recovery not expected to have full effect until next financial year

• Year to date, of the financial year 2025/26, revenue and EBITDA have been below expectations, primarily due to increased efforts required to complete ongoing projects compared to the original budgets, primarily related to a large project expected to be completed during the current financial year. In addition, a large service-based project has been delayed pending input from the customer and is now only expected to pick up pace late in the financial year.
• The Company's Management and the Board of Directors have taken action to counter the negative impacts, however the positive effects will not be able to weigh up against the accrued negative effects before the end of the ongoing financial year 2025/26.
• Following a comprehensive project and business review, the negative project impacts and the definitive closure of the Company activities in Kourou, the one-off effects amount to DKK 2.5 million and further impacts are not expected after.
• Order intake year to date totaled DKK 9.7 million, and the Company maintains a diversified order backlog of DKK 36.0 million, distributed across several missions and customers in both the institutional and commercial segments.
• At the ESA Ministerial Council meeting which took place late November 2025, a record commitment of EUR 22.3 billion was approved by the member states, with Denmark increasing its commitments to DKK 2.3 billion over the coming 3 years, an increase of DKK 1.4 billion compared to previous budget period. With ongoing growth, European space budgets are expected to support continued market growth, where Rovsing with only retention of current market share should see growth in coming years.
• Tender activity is increasing and expected to continue to increase, with Rovsing supporting customers by providing bids for upcoming key missions under the European Commission, ESA and national and commercial programmes. The Company expects decisions on several ongoing tenders during the 2025/26 financial year, as well as the initiation of new contract activities in the second half of the financial year.
• Execution on the updated strategy focusing on accelerating growth and identifying and qualifying potential acquisition targets as part of the Company's buy-and-build strategy is on track with concrete decisions expected before end of the financial year 2025/26.

Adjusted outlook for the Financial Year 2025/26

Based on the above, Rovsing adjusts its guidance for the financial year 2025/26, now expecting revenue in the range of DKK 33 to 37 million and EBITDA in the range of DKK -2.5 to 0.5 million compared to previous revenue range of DKK 37 to 41 million and EBITDA range of DKK 1.0 to 3.0 million.

Further information: Hjalti Pall Thorvardarson, CEO. Tel. +45 53 39 18 88. Email: hpt@rovsing.dk