Windar Photonics sees record FY25 sales despite China order delay

(Sharecast News) - Technology group Windar Photonics expects to deliver record full-year revenues for the 12 months ended 31 December, supported by stronger margins and a move towards breakeven profitability as demand for its turbine optimisation technology continued to build.

Windar now forecasts revenue of between �6.5m and �6.8m for FY25, with underlying earnings expected to be broadly neutral, compared with a loss in the prior year.

Windar said this sits below what it believes to be current market expectations of �9.45m of revenue and �2.2m of EBITDA, reflecting a delay in finalising a major order in China. It stated the products for the Chinese contract were ready to ship, but warned the associated revenue will now fall into FY26. It also highlighted that, at its current scale, forecasts remained sensitive to the timing of large individual orders.

The AIM-listed firm added that customer interest continues to strengthen as operators increasingly recognise its ability to lift wind turbine output by 2-4%, typically delivering a twoyear return on investment. It also pointed to ongoing work to expand its operational, commercial and manufacturing capabilities as it transitions into a largerscale business.

Chief executive J�rgen Korsgaard Jensen said: "Clear commercial interest from both existing and new customers underpins Windar's considerable future potential. Over 12 months ago, we recognised the need to expand our operational base and capacity in multiple areas if we were going to achieve this potential. We have now done much of this work.

"The tests completed on new turbines in North America and Germany bode well for the business and with the manufacturing capacity now in place to deliver to meet increased sales, together with our balance sheet strength, the business is well placed to grow again in 2026."

Reporting by Iain Gilbert at Sharecast.com