KEY FIGURES AND EVENTS
|MSEK||Quarter 4||Quarter 3||Quarter 4|
|Operating profit before depreciation||+0.9||+1.0||-1,1|
|Net profit per share, SEK||+0.001||+0.004||-0.029|
|Cash and cash equivalents||10.2||9.8||12.1|
|Equity per share, SEK||0.44||0.44||0.47|
|Equity ratio, %||89.8%||90.1%||86.7%|
- Sales continued to increase during the fourth despite the spread of Omicron and reduced air traffic.
- Positive net profit and cash flow for the quarter.
- After a series of successful tests, the Aventus Enroute service was deployed on October 1st for Southwest's entire fleet of about 740 aircraft. With this the agreed test period was started, according to the communicated test agreement on July 16th, 2021. The agreement also included an option to transition to a 17-month commercial service agreement starting in the first quarter of 2022.
- The European airline Volotea has during the period carried out and completed tests of the flight optimization service ClearPath. Founded in 2011, Volotea is one of the fastest growing growing independent airlines in Europe. With its Airbus 319/320 fleet, they are currently based in 18 European capitals and fly to more than 100 cities across Europe.
EVENTS AFTER THE PERIOD
- 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.
“With a positive net profit and cash flow for the last quarter of the year and additional revenue from new contracts, the starting position is positive for 2022. With the existing order portfolio, Q1-22 should be profitable and Q2-22 even better. We now look forward towards a continued steady growth for AVTECH and our customers. “, CEO David Rytter
Financial reports are available at www.avtech.aero/report.