AVTECH publishes key figures for the second quarter of 2022

AVTECH Sweden AB (publ) ("AVTECH") today publishes a few relevant key figures for the second quarter of 2022. Net sales amounted to MSEK 5.5 (2.7), compared to the corresponding period in 2021 and resulted in an EBITDA for the period of MSEK +2.3 (+1.0) and a net profit of MSEK +1.4 (+0.3). Cash flow for the period amounted to MSEK +1.1 (+1.3).

Key figures for the quarter

  2022 2022 2021
MSEK Quarter 2 Quarter 1 Quarter 2
Net sales 5.5 4.5 2.7
Operating profit before depreciation +2.3 +1.6 +1.0
Net profit +1.4 +0.7 +0.3
Net profit per share, SEK +0.025 +0.012 +0.006
Cash flow +1.1 -0.5 +1.3
Cash and cash equivalents 10.8 9.7 9.1
Equity 27.2 25.8 24.8
Equity per share, SEK 0.48 0.46 0.44
Equity ratio, % 90.6% 91.1% 91.5%

Thus, for the half year 2022, net sales were MSEK 9.9 (4.8) and net income was MSEK +2.1 (-1.7), compared with half-year 2021.

"Increased air travel, a recurring environmental awareness and a high fuel price now make the combination of Aventus and ClearPath very interesting. AVTECH is currently in a good position for post-pandemic growth. We have a low cost profile and are already profitable with a positive cash flow. In addition, we have an attractive service offering that increases the efficiency of our customers. Proof of this is the airline Volotea who recently during a Flight Ops trade show in London presented their positive experiences with our ClearPath service, where ClearPath delivered a greater actual savings than they expected. We are now in dialogue with several major airlines and a handful have already decided on tests starting now during and after the summer. Every new contract is always preceded by a successful test and although our services are easy to get started with, it often takes some time to fit this activity into the airlines' planning. We expect additional airlines to decide on tests this fall and that many of these will result in continued contracts," said David Rytter, CEO.

"We can already conclude that net income for the first half of 2022 is our best so far and the trend seems to be pointing in a continued positive direction now that several airlines have already signed up for tests of our services after the summer. A continued positive earnings trend opens up opportunities for dividends for our shareholders.", said Bo Redeborn, Chairman of the Board.

The full interim report for the second quarter will be published as planned on August 26, 2022.


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