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Update to Force BidCo A/S Q3 2024 Report

A processing error means that Force BidCo A/S has provided the wrong figure for the leverage ratio in the Q3 2024 report in the highlights overview on page 2 and the Net Debt figures on page 7.The correct leverage ratio should be 3.1x. The error is isolated to the Q3 2024 reporting and does not affect any other figures in this report. The corrected Q3 2024 financial statement has been share as part of this press release and is also corrected at www.FairWind.com

Correction of Naming for Wind100 Acquisition

Force Bidco A/S (FairWind) acknowledges and corrects an error in the announcements released on December 19[th], 2023, and on March 27, 2024, regarding the acquisition of Wind1000 Corporate Holding S.L (“Wind1000”). The correct name of the company acquired should be "Wind1000 Global Holding S.L", not "Wind1000 Corporate Holding S.L" as previously stated. The corrected announcements are as follows:--------------------------------------------------- December 19[th], 2023 FAIRWIND TO ACQUIRE WIND1000 Force Bidco A/S (“FairWind”), a leading global provider of one-stop solutions

FairWind Completes Acquisition of Wind1000

Force Bidco A/S (FairWind) today announces that the acquisition of Wind1000 Corporate Holding S.L (“Wind1000”) has been closed. Closing of the transaction follows the announcement on December 19, 2023, that FairWind has signed an agreement to acquire Wind1000.Wind1000, a regional leader within installation of onshore wind turbines, was founded in 2010 and has expanded their activities across Southern Europe and South America, which aligns with FairWind’s global expansion strategy, providing foothold and synergies for both companies for further growth and expansion across the installation

FairWind successfully issues subsequent bonds of EUR 5 million

Force BidCo A/S’s (“FairWind” or the “Company”) has successfully issued EUR 5 million of subsequent bonds (“Subsequent Bonds” or the “Issue”) under the Company’s existing senior secured bond loan 2021/2026 with ISIN SE0016275820 with a total framework amount of EUR 100 million (the “Bonds”). Following the Issue, the total amount outstanding under the Bonds is EUR 55 million.The Issue received strong interest from Nordic institutional investors. The Subsequent Bonds carry a floating interest rate of 3m EURIBOR + 625 bps. The net proceeds from the Subsequent Bonds will be used to partially

FairWind to acquire Wind1000

Force Bidco A/S (“FairWind”), a leading global provider of one-stop solutions for the installation and service of onshore and offshore wind turbines will acquire the subsidiary companies of Wind1000 Corporate Holding S.L (“Wind1000”), a Spanish based regional leader in installation of onshore wind solutions, primarily in Southern Europe and South America.FairWind has signed an agreement to acquire Wind1000, a regional leader within installation of onshore wind turbines. Founded in 2010, Wind1000 has expanded their activities across Southern Europe and South America, which aligns with

FairWind Awarded Largest Single Order in Company History

Setting the stage for a promising 2024, FairWind today announces the largest single order in the company’s history. With the anticipated increase in activity for 2024, FairWind’s CEO, Stewart Mitchell, is optimistic about the company’s future prospects. Vejle, October 25, 2023Force Bidco A/S (FairWind) today announces the largest single order in the company’s history, with the awarding of a major crane and pre-assembly installation contract out of Esbjerg Harbor in 2024. The project is set to run through the first half of 2024, totaling a record breaking 1.17GW for FairWind. The

FairWind Announces Strong Preliminary Q3 2023 Figures

Vejle, October 24, 2023Force Bidco A/S’s (FairWind) preliminary results for Q3 2023 include a revenue increase of 40% and reached a total of 337.5 mDKK, compared to 241.9 mDKK in Q3 2022. The company has also improved its earnings, reaching a total adjusted EBITDA of 41.9 mDKK for the period, compared to 7.4 mDKK in Q3 2022, which is an increase of 466%. The improved performance means that FairWind’s Q3 2023 LTM Adjusted EBITDA has reached approximately 102 mDKK, which will be an increase of around 46% compared to Q2 LTM Adjusted EBITDA of 69.8 mDKK. All figures in this press release

Senior Management Changes

Vejle, August 21st, 2023Force BidCo A/S (FairWind) announces today that two changes will be implemented in the FairWind Senior Management Team to optimize the organization for future growth. An agreement has been made with Laura Lee to step into the newly established position as Chief People Officer (CPO), effective from September 1st, 2023. Laura Lee has more than 15 years of multinational experience within numerous Human Resource functions and has most recently held the position of Human Resources Director at the Sparrows Group. The CPO position will be part of the Senior Management

Leadership change at FairWind

Vejle, August 3rd, 2023Force BidCo A/S (FairWind) announces today that John Funch is leaving his position as CEO of FairWind A/S. The Board of Directors has appointed Stewart Mitchell to succeed him. The change takes effect today. Stewart Mitchell most recently served as CEO of Sparrows Group, a global provider of specialist equipment and integrated engineering services to the energy and industrial sectors. “John Funch has led FairWind to become a leading onshore wind-installation company with a mayor footprint in Northern and Central Europe. Just looking back to the last two years,

FairWind Secures 73MW Człuchów Wind Farm Project in Northern Poland

Vejle, July 20, 2023We are excited to announce that FairWind has been chosen by Vestas as the installation partner for the Człuchów Wind Farm project in Northern Poland. This project involves the installation of 33 Vestas Model V110-2.2MW turbines, each with a hub height of 120 meters. With a capacity of 73MW, this wind farm represents a significant milestone and one of the largest investments in Człuchów’s history. The project will be operated by two installation teams, and our dedicated professionals are committed to delivering this project to the highest standards.

Update to Force BidCo A/S Q1 2023 Report

Vejle, May 31, 2023A processing error means that Force BidCo A/S have provided wrong figures for the adjusted EBITA and adjusted EBITA margin for the Q1 2023 report in the Key Figures overview on page 2. The reported adjusted EBITA number for the last 12 months, which was wrong, was reported as 13,067,000, which resulted in an adjusted EBITA margin of 1.3%  The correct adjusted EBITA number for the last 12 months should be 46,308,000, resulting in an adjusted EBITA margin of 4.5%.  This error is isolated to the Q1 2023 reporting and does not affect the Profit & Loss statement, or

FairWind Awarded Hanze & Ansjovisstroom Groen Wind Farms

Vejle, May 19, 2023FairWind has been selected as the installation partner for the Hanze and Ansjovisstroom Wind Farms, part of the Windplan Groen project in the Netherlands. Together, the two wind farms will have a capacaty of 120 MW. FairWind will be responsible for the erection of 20 GE 6.0-164m RD turbines from the Cypress platfom. The project will commence in May 2023 and is expected to be fully operational by the end of 2023. When completed, the total Windplan Groen project is expected to generate 1.9 billion KWh a year.

FairWind Awarded Vesterhav Offshore Wind Farm Project

Vejle, May 16, 2023FairWind has been awarded the turnkey pre-assembly contract for the offshore wind farms Vesterhav Nord and Syd at the Port of Esbjerg, Denmark. Here, FairWind will be responsible for the pre-assembly erection of 41 Siemens Gamesa’s SG 8.0-167 DD turbines. Each direct drive (DD) turbine will have a power generating capacity of 8.4MW. FairWind will start work in May 2023 and the wind farm is expected to be fully operational by the end of 2023. The two wind farms will have a combined capacity of 344MW. The project is expected to generate 1.57TWh of green power a year,

FairWind Annual Report 2022

Force Bidco A/S, Vejle, 19 April 2023As of April 19, 2023, the 2022 Annual Report for Force Bidco A/S (FairWind) has been submitted to the Danish Business Authority and the Danish Financial Supervisory Authority. The Annual report was approved at the General Assembly as of April 14[th], 2023. John Funch, CEO: “As I reflect on the past year, we at FairWind look back on a record breaking 2022, where our operational model once again stood its test of resilience in a challenged market. This year, it was a market that was highly affected by the war in Ukraine, while the surge of inflation

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