AVTECH publishes key figures for the second quarter 2024
AVTECH Sweden AB (publ) ("AVTECH") today publishes a few preliminary key figures for the second quarter of 2024. Net sales amounted to MSEK 8.6 (6.6), compared to the corresponding quarter in 2023 and resulted in an EBITDA for the period of MSEK +4.0 (+3.2) and net earnings of MSEK +2.7 (+2.1). Cash flow for the period amounted to MSEK -5.3 (+2.6).
FINANCIAL KEY FIGURES FOR THE PERIOD
| 2024 | 2024 | 2023 | |
| MSEK | Quarter 2 | Quarter 1 | Quarter 2 |
| Net sales | 8.6 | 7.9 | 6.6 |
| Operating earnings before depreciation | +4.0 | +4.1 | +3.2 |
| Net earnings | +2.7 | +3.0 | +2.1 |
| Net earnings per share, SEK | +0.048 | +0.053 | +0.037 |
| Cashflow | -5.3 | +3.2 | +2.6 |
| Cash and cash equivalents | 20.7 | 26.0 | 18.2 |
| Equity | 40.3 | 43.2 | 34.7 |
| Equity per share, SEK | 0.71 | 0.77 | 0.61 |
| Equity ratio, % | 90.2% | 90.8% | 91.7% |
- Net sales in the second quarter increased by 28.8% compared to the same period in 2023 thanks to new customer agreements. This is once again our best quarterly sales to date.
- Net earnings increased by 30,2% compared to the same period in 2023.
- Cash flow for the period is negative, mainly due to the dividend paid in May, but also due to delayed customer payments that are expected to come in the coming quarter.
“We are now closing another quarter with record sales and are looking forward to a summer with increased air traffic. Completed airline tests and a pipeline of additional airlines give us good opportunities for continued growth during the year. In particular, in connection with the recent serious incidents, we are now seeing an increased interest in our new turbulence avoidance products. Here, our services can really help to increase flight safety and avoid costly damage to aircraft and passengers," said CEO, David Rytter.
The full report for the second quarter will be published as planned in the interim report on August 23rd, 2024.