AVTECH Sweden AB (publ) ("AVTECH") today publishes a few relevant key figures for the second quarter of 2023. Net sales amounted to MSEK 6.6 (5.5), compared to the corresponding period in 2022 and resulted in an EBITDA for the period of MSEK +3.2 (+2.3) and a net profit of MSEK +2.1 (+1.4). Cash flow for the period amounted to MSEK +2.6 (+1.1).
Key figures for the quarter
| 2023 | 2023 | 2022 | |
| MSEK | Quarter 2 | Quarter 1 | Quarter 2 |
| Net sales | 6.6 | 5.7 | 5.5 |
| Operating profit before depreciation | +3.2 | +2.5 | +2.3 |
| Net profit | +2.1 | +1.4 | +1.4 |
| Net profit per share, SEK | +0.037 | +0.026 | +0.025 |
| Cash flow | +2.6 | +1.0 | +1.1 |
| Cash and cash equivalents | 18.2 | 15.7 | 10.8 |
| Equity | 34.7 | 32.6 | 27.2 |
| Equity per share, SEK | 0.61 | 0.58 | 0.48 |
| Equity ratio, % | 91.7% | 90.8% | 90.6% |
Thus, for the half year 2023, net sales were MSEK 12.4 (9.9) and net income was MSEK +3.5 (+2.1), compared with half-year 2022.
”AVTECH is in a fantastic position for growth. We have a low-cost profile, increasing sales and are profitable with a positive cash flow. In addition, we have an attractive service offering that increases our customers' efficiency. Increased flying, cost awareness and an increasing focus on the environment make the combination of Aventus and ClearPath very interesting for our customers. The latest proof of this is the Mexico-based airline Volaris, which after a successful test period recently chose to continue with Aventus and ClearPath. Volaris will also present its results and positive experiences to other airlines at the next flight operations show in Miami in September. Every new contract is usually prompted 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. Test periods with several major airlines are already about to start during the autumn. In the upcoming quarters we expect additional airlines that decide on tests and that many of these result in continued contracts", said David Rytter, CEO.
”We can once again note that the net result for the first half of 2023 is our best so far and the trend seems to point in a continued positive direction with several airlines in the pipeline for testing our services after the summer.", said Bo Redeborn, Chairman of the Board.
The full interim report for the second quarter will be published as planned on August 25, 2023.