ZITON A/S - Interim report Q3 2025

27 Oct 2025 15:30 CET

Highlights of Q3 2025
• EBITDA increased from EUR 19.5m in Q3 2024 to EUR 20.2m in Q3 2025. The
increase was mainly a consequence of the increase in the day rate for J/U WIND
ENTERPRISE from mid-year 2025, which was partly offset by higher project-related
expenses from growth in providing full-service solutions and a decommissioning
project.
• 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.
• 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.

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658033_ZITON - Q3 2025.pdf