Core Insights - Rovsing A/S reported Q1 2025/26 results with revenue and EBITDA below expectations due to increased project efforts and delays in service-based projects [2][4] - The company maintains its revenue guidance for the financial year 2025/26, expecting revenue between DKK 37–41 million and positive EBITDA between DKK 1–3 million [3][4] Financial Performance - Q1 revenue was DKK 7.3 million, down from DKK 9.5 million in Q1 2024/25 [4] - Q1 EBITDA was DKK -0.6 million, compared to DKK 0.8 million in Q1 2024/25 [4] - Order intake for the quarter was DKK 3.3 million, with an order backlog of DKK 34.8 million at the end of September 2025 [4] Market Activity - Increased tender activity was noted, with bids submitted for key missions under the European Commission's Copernicus Earth Observation Programme and the Secure Communications Constellation IRIS² [4] - Growing European space budgets are expected to support market growth, with Denmark announcing a national space budget of DKK 2.7 billion for 2026–2029 and Germany announcing EUR 35 billion for national space programmes up to 2030 [4] Strategic Initiatives - Rovsing is executing an updated strategy focused on accelerating growth and identifying potential acquisition targets as part of a buy-and-build strategy [4]