AVTECH Sweden AB (publ) Interim Report January – June 2021
| 2021 | 2021 | 2020 | |
| MSEK | Quarter 2 | Quarter 1 | Quarter 2 |
| Net turnover (from sales) | 2.7 | 2.1 | 3.3 |
| Operating profit before depreciation | +1.0 | -1.2 | +0.7 |
| Net profit | +0.3 | -2.0 | +0.3 |
| Net profit per share, SEK | +0.006 | -0.035 | +0.005 |
| Cash flow | +1.3 | -4.3 | +0.5 |
| Cash and cash equivalents | 9.1 | 7.8 | 12.8 |
| Equity | 24.8 | 24.5 | 28.8 |
| Equity per share, SEK | 0.44 | 0.43 | 0.51 |
| Equity ratio, % | 91.5% | 91.6% | 91.6% |
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Sales continued to increase during the second quarter in connection with the recovery of air traffic.
- Positive net profit and cash flow for the quarter.
- A one-year contract extension of the existing Aventus Descent Winds service with Dallas-based Southwest Airline was in the period negotiated and concluded. The service agreement is extended until the end of June 2022 with an expected contract value in between 5 and 10 MSEK, dependent on number of flights and USD exchange rate. The Aventus NowCast Descent winds service today delivers highly accurate and tailored descent wind and temperature information in real-time to all Southwest Airline’s aircraft and routes. This leads to improved aircraft automation while reducing the CO2 footprint and flight crew workload for the descent phase of each flight. Utilization of Aventus optimal wind data positions Southwest for the continued expansion of NextGen initiatives. Through optimization of the descent flight path, the service is estimated to save up to 84 000 tons of CO2 yearly in Southwest’s operation. This is an integral part of the airlines initiative to reduce its environmental impact.
- A new Enroute Wind agreement has been drafted with Southwest during the period, covering a 3-month evaluation of the service in the autumn 2021. The agreement also includes commercial conditions for an optional continuation after the trial period.
For more information, please contact
David Rytter, CEO, +46 (0) 8 544 104 80
Christina Zetterlund, CFO, +46 (0) 8 544 104 80
This information is information that AVTECH Sweden AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted, through the above contact person's provision, for publication on August 26th, 2021, 08.30 CET.
www.avtech.aero/press-release-english
Financial reports are available at www.avtech.aero/report.
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital air traffic control systems. Customers are the aviation industry's various players such as airlines, airports, aviation, technology companies and aircraft manufacturers. With the help of the company's products and services, each individual flight or the entire flight operation can be optimized in terms of economy, noise and emissions, efficiency, punctuality and safety. The head office is in Stockholm. AVTECH Sweden AB (publ) is listed on NASDAQ First North Growth Market and has appointed Redeye AB as certified adviser. Email address: [email protected] and telephone number +46 (0)8 121 576 90.
