Rovsing A/S releases its Annual Report 2024/25

HIGHLIGHTS OF THE YEAR

• For Rovsing, 2024/25 has been a stabilization year, maintaining the activity level at a similar level as last business year, when YoY revenue growth was 39%. In line with the 2023/24 strategy, the Company has explored and engaged in opportunities for partnerships and expansion as well as reaching out to new entrants into the market.
  
  
  
  
• The order backlog at 30 June 2025 stands at DKK 39,7 million (2023/24: DKK 38,8 million) with an order intake during 2024/25 of DKK 37,8 million (2023/24 DKK 10,3 million). Rovsing’s current portfolio of contracts is diverse, ranging across several different missions and customers in both institutional and commercial space. The industry outlook continues to progress positively with large EU and European national missions moving forward to the next tendering phase where Rovsing remains a key-supplier supporting the ambitions of all major European prime contractors.
  
  
  
  
• During the financial year 2024/25, the revenue amounted to DKK 37,0 million (DKK 39,3 million in 2023/24), which is a decrease of 5,7 % (DKK -2,2 million) while still stabilizing revenue on a high level compared to recent years.
  
  
  
  
• EBITDA amounted to DKK 1,3 million (DKK 2,9 million in 2023/24) or a decrease of DKK 1,6 million. The 2024/25 EBITDA is impacted by one-time effects related to the replanning of two larger projects. Rovsing has projects that have been delayed for extensive periods by their customers. These delays incur an increase in material costs and effort due to inflation in the same period. Rovsing expects to have those impacts settled with the customers. Until settlement is reached proceeds cannot be quantified and are therefore not included.
  
  
  
  

STRATEGY ACCELERATION AND INCREASED AMBITIONS

• Rovsing is building on a solid turnaround and stable European foundation to accelerate global growth within the Space and Defense segments. With the Company’s strong positions in ESA and EU space programs, the Company is looking to expand further into high-potential markets while pursuing a selective buy-and-build strategy. The focus is to strengthen the core Space business and extend into adjacent Defense markets where our expertise in mission-critical testing and software validation provides clear synergies.
  
  
  
  
• By combining organic growth, strategic acquisitions, and customer-driven innovation, Rovsing is positioned to scale faster, broaden our market reach, and deliver sustainable long-term value to shareholders and stakeholders alike.        
  
  
  
  
  
  
• To support the strategic ambitions the Company will carry out an already fully subscribed directed share issue, by key investors, members of the Board of Directors and Management, to provide additional financing to support the strategy and allow the necessary investments & due diligence for facilitating a substantial financing round aimed at clear buy-and-build targets during 2026.

• At the upcoming Annual General Assembly, the aim is that the Board of Directors will be strengthened further with the addition of proposed new members Lars Ankjer and Christian Klarskov.
  
  
  
  
• Based on the current order backlog for Rovsing core business, the revenue outlook for 2025/26 is expected to be in the range of DKK 37,0 to 41,0 million, with a positive EBITDA in the range of DKK 1,0 to 3,0 million.
  
  
  
  

Further information:

Hjalti Pall Thorvardarson, CEO. Tel. . Email:

ROVSING’S STRATEGY

Rovsing has a position as a key agile high-tech SME in the Space & Defense Industry. Our mission is to provide our customers with the innovative test and simulations products, systems and services they require, for supporting their critical path, which is constantly challenged by the need to innovate, optimise and overcome internal & external challenges.

Accelerating Growth on a Strong Foundation

Rovsing has successfully completed its turnaround and is now entering a new phase of accelerated growth. Building on a stable European core, our strategy focuses on delivering sustained organic growth while expanding globally into high-potential markets in the USA, Middle East, and APAC. At the same time, we are strengthening our position through a focused buy-and-build strategy, targeting complementary companies in the Space segment and adjacent Defense activities that leverage our proven expertise in test systems, test products, and Independent Software Validation & Verification (ISVV).

Leadership in Europe as a Growth Platform

As an agile high-tech SME in the Space & Defense industry, Rovsing remains a trusted supplier to leading European institutions and Large-Scale Integrators (LSIs/OEMs). Our strong track record across major ESA and EU space programs provides a solid platform for continued expansion. We will maintain and grow these relationships by delivering high-quality, innovative solutions, while investing further in R&D, AI/ML integration, and resilient supply chains to anticipate and meet evolving market needs.

Expanding International Reach

With a stabilized core business, Rovsing is scaling internationally. We are establishing a stronger presence in the USA, Middle East, and APAC by adapting our proven offerings to local demands, forging strategic partnerships, and capitalizing on emerging opportunities in both institutional and commercial Space & Defense markets. Our goal is to replicate and expand upon our European success to become a recognized global player.

Buy-and-Build Strategy & New Verticals

To accelerate growth, Rovsing is pursuing a selective buy-and-build strategy. We are actively evaluating acquisitions and partnerships that enhance our core capabilities in space testing while opening new opportunities in adjacent Defense verticals, where our competencies in mission-critical test and validation solutions are highly relevant. This dual-track strategy allows us to scale faster, broaden our customer base, and increase resilience.

Agility and Customer-Centric Innovation

Rovsing’s reputation rests on our ability to stay agile and customer-focused. Our clients—from space agencies and institutions to LSIs—value our capacity to deliver tailored, innovative solutions with speed and precision. This agility, combined with deep technical expertise, sets us apart and reinforces long-term customer trust.

People as the Driver of Growth

Our employees’ knowledge and commitment are central to Rovsing’s success. We remain dedicated to fostering an agile, inclusive, and innovative culture that empowers our people to thrive and grow. Investing in talent is key to driving innovation, strengthening execution, and securing the long-term success of our strategy.

Delivering Sustainable Value

Rovsing is positioned for sustainable growth, combining organic development with strategic acquisitions. A solid order backlog, a growing international pipeline, and a reputation for reliability and innovation form the foundation for scaling the business. We will continue transparent engagement with customers, partners, shareholders, and the financial community to ensure alignment and build long-term trust.

Looking Ahead

Rovsing’s future is defined by three priorities:

• Maintain leadership in Europe as a trusted systems, service and product supplier.
• Accelerate through buy-and-build, strengthening our core in Space and extending into the Defense segment.
• Expand globally with targeted growth leveraging our core offerings to further markets.
  
  
  
  

With this strategy, Rovsing is well-positioned to deliver sustained value for customers and shareholders while cementing its role as a leading European systems house with global reach.

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