ZITON A/S - Interim report Q2 2025

28 Aug 2025 16:00 CEST

Highlights of Q2 2025
• EBITDA declined by EUR 3.2m from EUR 19.6m in Q2 2024 to EUR 16.4m in Q2 2025.
The decline was mainly due to an 10-year classing of J/U WIND PIONEER during Q2
2025, an increase in OPEX for J/U WIND ENERGY, and higher project-related
expenses from growth in providing full-service solutions as well as an increase
in SG&A.
• On 7 January 2025, the closing of the transaction was completed whereby
Macquarie Asset Management (“Macquarie”), via Macquarie European Infrastructure
Fund 7, acquired all issued and outstanding shares of Zappy TopCo ApS and its
wholly-owned subsidiary ZITON A/S.
• On 4 June 2025, ZITON made a voluntary prepayment of 10% of the then
outstanding nominal amounts of the first lien loan and the ESG loan, totalling
EUR 24.3m, of which EUR 0.5m was a call premium.
• Our KPI guidance for 2025 is unchanged:
o Weighted average utilisation rate. We expect a utilisation rate in the range
of 95-100%.
o EBITDA. We expect EBITDA to be in the range of EUR 60-65m.
o Cash flow from operating activities. We expect cash flows from operating
activities to be in the range of EUR 58-63m.
o CAPEX. We expect CAPEX to be in the range of EUR 24-28m including CAPEX for
the leg extension on J/U WIND ENERGY.

More information:
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654140_ZITON - Q2 2025.pdf