AVTECH Sweden AB (publ) Interim Report January – March 2022


  2022 2021 2021
MSEK Quarter 1 Quarter 4 Quarter 1
Net turnover 4.5 3.6 2.1
Operating profit before depreciation +1.6 +0.9 -1.2
Net profit +0.7 +0.1 -2.0
Net profit per share, SEK +0.012 +0.001 -0.035
Cash flow -0.5 +0.4 -4.3
Cash and cash equivalents 9.7 10.2 7.8
Equity 25.8 25.1 24.5
Equity per share, SEK 0.46 0.44 0.43
Equity ratio, % 91.1% 89.8% 91.6%
  • Sales are now increasing in the first quarter of the year thanks to additional agreements and increased air traffic after the pandemic. The increase is 25% compared to the previous quarter and 114% compared to the same quarter in 2021.
  • Positive operating and net profit as a direct effect of the increased revenue for the period. A lean organization and low variable costs now mean that additional revenues will have a strong impact on earnings.
  • Cash flow is as normal negative in the first quarter, thanks to larger payments and a delay in payments of new invoiced revenues.
  • After a successful trial and evaluation period, Dallas-based Southwest Airlines decided on January 17th for a continuation of the Aventus Enroute Winds service. Southwest has formally accepted the option, to transition to a 17-month commercial service agreement, included in the previously communicated evaluation period agreement. The agreement has a start date of February 1st, 2022, and an expected value in the range of MSEK 16 to 21, depending on USD exchange rate. This includes both the Aventus Descent and Aventus Enroute winds services, and thereby replaces the preexisting Aventus Descent agreement pricing. The service is already deployed and in use by all Southwest’s aircraft. The Aventus Enroute Winds service provides, as an addition to the Aventus Descent Winds service already in use, highly accurate and tailored enroute wind information in real-time to all Southwest Airline's aircraft and routes. This leads to improved flight execution, increased situational awareness and reduced workload for the pilots. Utilization of Aventus optimal enroute wind data positions Southwest for the continued expansion of NextGen initiatives.
  • AVTECH and Volotea Airlines entered into a 3-year agreement for AVTECH's ClearPath service on January 25th, 2022, with a start date of January 1st, 2022 and an expected total value in the range of 2.2 to 3.2 MSEK dependent on fleet size and EUR exchange rate. The ClearPath flight optimization service, based on state-of-the-art high-resolution aviation weather forecasting from the Met Office, provides precise and tailored tactical decision support for Voloteas pilots to improve the efficiency of each individual flight. By providing its flight crews with up-to-date guidance on the most efficient flight altitudes, Volotea is able to significantly reduce their total CO2 emissions.

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


Receive the latest newsletter

Subscribe To Our Weekly Newsletter

Get notified about new articles quarterly