23rd Dec 2025 11:58
(Alliance News) - Windar Photonics PLC on Tuesday said it expects full-year earnings before interest, tax, depreciation and amortisation to be neutral despite delivering record revenue, as a delayed large order in China means results will fall short of market expectations.
Windar shares were down 12% at 38.35 pence in London on Tuesday morning.
The provider of light detection and ranging solutions for the wind energy industry with production, R&D and administrative operations in Ishoj, Denmark said it now expects revenue of between EUR6.5 million and EUR6.8 million for the 12 months to December 31, representing growth of around 45% from EUR4.6 million in 2024.
With "improved" gross margins, Windar said Ebitda is expected to be neutral for the year, compared with a loss in the prior year of EUR300,000. This contrasts with market consensus expectations for revenue of EUR9.5 million and Ebitda of EUR2.2 million.
Windar said the shortfall against expectations reflects a delay in finalising a significant order in China, which had been expected to contribute materially to 2025 revenue.
The company said the products linked to the order are ready to ship and the revenue is now expected to be recognised in financial 2026.
The company said it remains sensitive to the timing of large single orders at its current stage of development.
Windar said customer awareness of its LiDAR-assisted technology is increasing, with its solutions typically improving wind turbine power output by 2% to 4% and delivering a return on investment within 2 years.
During the year, Windar said it focused on scaling up the business to support future growth. It said it secured new test project orders in North America and Germany across multiple turbine platforms, including those of Senvion, Vestas, Siemens and General Electric.
Windar added that its products are now expected to be installed on around 25% of all V82 turbines in North America.
Chief Executive Jorgen 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."
By Eva Castanedo, Alliance News reporter
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