Gapwaves publishes Year End Report for 2023
Strengthened supply chain
Our strategic focus on developing our supply chain and expanding our own production capacity was a highlight during the quarter, as we announced the establishment of a new pilot-line production facility and since January 2024 engaged in a strengthened partnership with Frencken Group, positioning us as a supplier of waveguide antennas.
Significant orders
During the quarter, our collaboration with Hella expanded, marked by an order valued at MEUR 1.5 for the year 2024. Shortly thereafter, at the beginning of the year, we secured additional orders from Frencken Group and a European Tier 1 supplier, with whom a collaboration started in Q1 2023.
Fourth quarter: 1 October – 31 December 2023
- Net sales amounted to MSEK 6.7 (11.0).
- EBITDA amounted to MSEK -17.7 (-9.0), whereas EBITDA adjusted for associated company amounted to MSEK -13.2 (-9.0).
- The operating result/EBIT amounted to MSEK -19.7 (-11.5).
- The result for the period amounted to MSEK -19.8 (-12.0).
- Earnings per share before and after dilution amounted to neg. (neg.).
- Cash flow for the period amounted to MSEK –13.5 (8.0).
- The Group’s cash and cash equivalents amounted to MSEK 89.3 (185.4).
CEO Jonas Ehinger comments: “Despite the overall weakness in turnover during the fourth quarter and the entire financial year, we have secured significant orders, which are very positive signals. We have also made progress strategically and our focus for 2024 is to solidify our position as a full-service solution provider with our waveguide antennas. Key activities are scaling up production capacity and expanding our customer base. We are confident in our ability to achieve these goals, as we are well-positioned to meet the high demands of the Automotive sector and capitalize on the opportunities presented in the market.”
The full report is available as attached PDF and here.