Aviation cleaning technology firm Aerowash reported a decline in revenue but an improvement in earnings for the first quarter. Operating profit turned positive as the company secured orders in Japan and received a positive award decision from International Airlines Group.

Net sales amounted to SEK 7.6 million (8.2). Operating profit improved to SEK 0.3 million (-5.5), while profit after financial items came in at SEK -0.1 million (-5.7). Earnings per share were SEK -0.003 (-0.44).

During the quarter, Aerowash received two orders in Japan via its distributor Correns Corporation. The company also received a positive award decision from International Airlines Group (IAG) following a tender for automated washing robots for British Airways' operations at London Heathrow Airport.

CEO Niklas Adler describes the quarter as the strongest in a long time, highlighting the positive operating result in particular. He notes that the Japanese orders demonstrate the effectiveness of the company's partner model and the global nature of the automated aircraft washing market. According to the CEO, the IAG award decision serves as a strong endorsement of the company's technology, although negotiations for a final delivery agreement are still ongoing.

Aerowash simultaneously noted that the aviation industry is being impacted by geopolitical uncertainty and rising fuel prices, which is lengthening sales cycles and has led to deferred deliveries at its partner Aerotech. Consequently, the company has reallocated completed units to the Japanese market.

The company has also established a subsidiary for vehicle washing, targeting trains, buses, and other heavy vehicles.

'At the same time, we remain mindful that work remains on the aviation side and the order book needs to be strengthened. The aviation industry is characterized by long lead times for decision-making, but despite a challenging market climate, sales processes are underway across several continents and we are actively working to finalize them. With a positive operating profit, an award decision from IAG, orders from Japan, a strengthened foothold in North America, and a new business arm under construction, the direction is clear. I look forward to reporting on continued progress', Adler concludes in his CEO statement.

Aerowash, MSEKQ1 2026Q1 2025Change
Revenue7.68.2-6.4%
Operating profit0.3-5.5
Profit before tax-0.1-5.7
Net profit-0.1-5.7
Earnings per share, SEK-0.00-0.44