FINANCIAL KEY FIGURES FOR THE PERIOD

 202320232022
MSEKQuarter 3Quarter 2Quarter 3
Net sales7.56.65.7
Operating earnings before depreciation+4.2+3.2+3.1
Net earnings+3.1+2.1+2.2
Net earnings per share, SEK+0.054+0.037+0.039
Cashflow+2.8+2.6+1.7
Cash and cash equivalents21.018.212.5
Equity37.834.729.4
Equity per share, SEK0.670.610.52
Equity ratio, %92.9%91.7%92.2%
  • Sales for the third quarter increased by 31% compared to the same period in 2022 thanks to new agreements and a continued strong dollar.
  • Net earnings increased by 39% compared to the same period in 2022.
  • Cash flow increased by 65% compared to the same period in 2022.

EVENTS DURING THE PERIOD

  • On August 23, it was announced that AVTECH and Volotea Airlines have entered into a 2-year agreement for AVTECH's Aventus wind uplink service, with a start date of August 5, 2023, and an expected total value in the range of MSEK 1.1 to 1.9 depending on fleet size and EUR exchange rate development.
  • On July 12, it was announced that Volaris has chosen to continue with AVTECH's ClearPath and Aventus flight optimization services after a successful three-month evaluation period during the second quarter. This is in accordance with the already communicated three-year agreement that started at the end of March 2023, and which has an expected total value in the range of MSEK 8 to 14, depending on the number of aircraft and USD exchange rate.


Financial reports are available at www.avtech.aero/report

https://www.avtech.aero/press-release-english

For more information, please contact

David Rytter, CEO, +46 (0) 8 544 104 80
Christina Zetterlund CFO, +46 (0) 8 544 104 80

About AVTECH Sweden AB (publ)

AVTECH develops products and services for digital air traffic control systems. Customers are the aviation industry's various players such as airlines, airports, aviation, technology companies and aircraft manufacturers. With the help of the company's products and services, each individual flight or the entire flight operation can be optimized in terms of economy, noise and emissions, efficiency, punctuality and safety. The head office is in Stockholm / Kista. AVTECH Sweden AB (publ) is listed on NASDAQ First North Growth Market and has appointed Redeye AB to certified adviser.

This information is information that AVTECH Sweden is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-10-27 08:30 CEST.

Attachments

AVTECH Interim Report Quarter 3 2023

© Modular Finance, source Nordic Press Releases