AVTECH Sweden AB (publ) Intermin Report January – September 2023
FINANCIAL KEY FIGURES FOR THE PERIOD
| 2023 | 2023 | 2022 | |
| MSEK | Quarter 3 | Quarter 2 | Quarter 3 |
| Net sales | 7.5 | 6.6 | 5.7 |
| 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 equivalents | 21.0 | 18.2 | 12.5 |
| Equity | 37.8 | 34.7 | 29.4 |
| Equity per share, SEK | 0.67 | 0.61 | 0.52 |
| 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