Strong and growing pipeline – but outlook adjusted to reflect postponement of two sales orders.
COMPANY ANNOUNCEMENT NO. 82
Inside information
Today, LED iBond International A/S updated the revenue outlook for 2023 and predicted cash flow from operations.
LED iBond is far progressed in work relating to two large projects within indoor farming and parking solutions, for a combined value of DKK 1.2 million, which were previously expected to be ordered and delivered before the end of 2023. Both projects are now expected for delivery during the first part of 2024, and as such the associated revenue will move from 2023 to 2024, hereby resulting in a revised short-term outlook for 2023.
With successful and focused sales and marketing activities, resulting in a continuously growing pipeline and increasing interest from prospective clients, we have no reasons for not remaining optimistic around both short- and medium-term growth prospectives in 2024 and beyond.
Updated Outlook
Updating the outlook to reflect the short-term timing shift on a few larger projects, LED iBond now expects 2023 revenue of DKK 2.6 – 2.8 million reduced from the previous DKK 3.0 – 5.0 million as stated in company announcement no. 76 29 June 2023.
As a result of updated growth expectations, related working capital impacts, and the current macro-economic climate the company also postpone the expectations regarding positive cash flow from operations by one year, from 2024 to 2025.
As such, the updated financial outlook is:
- Revenue of DKK 2.6 – 2.8 million for 2023
- Positive cash flow from operations during 2025
