Windar Photonics A/SAktiv

The principal activities of the company is development, production and sales of new technologies, especially development of new advanced wind measurement sensors and software used among others within the wind turbine industry.

Development in activities and financial and economic position In 2025, the Company achieved record revenues and the highest level of commercial activity in its history, with shipments across multiple geographies and turbine platforms reflecting the growing global demand for Windar's technology. While FY 2025 represents a record for the Company and demonstrates the considerable potential of the business, the financial result is nonetheless below Management's expectations. The underlying operational and commercial progress during the year has been substantial. The Company opened a new manufacturing facility with five times the prior production capacity, appointed senior sales leadership in both Europe and North America, concluded new test project orders across major turbine platforms including Vestas, Siemens Gamesa Renewable Energy, GE Vernova and Senvion, and established an Advisory Board of leading industry figures. Windar's products are now expected to be installed on approximately 25% of all V82 turbines in North America. The company realized a net loss of DKK ('000) 8,587 (2024: DKK ('000) -2,445). The underlying operating result before depreciation and amortization amounted to DKK ('000) 226 (2024: DKK ('000) -793). As of 31 December 2025, the company’s equity amounted to DKK ('000) -4,319. The annual report has been prepared on a going concern basis. Management acknowledges that there is material uncertainty associated with this assessment, which is disclosed in accorda

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