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AVTECH Sweden AB (publ) Interim Report January - September 2021

       KEY FIGURES AND EVENTS

2021 2021 2020
MSEK Quarter 3 Quarter 2 Quarter 3
Net turnover 3.4 2.7 2.7
Operating profit before depreciation +1.0 +1.0 -0.2
Net profit +0.2 +0.3 -0.6
Net profit per share, SEK +0.004 +0.006 -0.011
Cash flow +0.7 +1.3 -2.6
Cash and cash equivalents 9.8 9.1 10.2
Equity 25.0 24.8 28.1
Equity per share, SEK 0.44 0.44 0.50
Equity ratio, % 90.1% 91.5% 94.4%

  • Sales continued to increase during the third quarter in connection with the recovery in air traffic during the summer.
  • Positive net profit and cash flow for the quarter.
  • In the beginning of the period AVTECH and Southwest Airlines entered into an agreement covering a 3-month evaluation of the Aventus Enroute Winds service, with an expected start in the fourth quarter of 2021. The agreement includes an option to transition to a 17-month commercial service agreement in the first quarter of 2022 with an expected value of between MSEK 3.5 and 7, dependent on the number of flights and USD exchange rate.
The Aventus Enroute Winds service, in addition to the existing Aventus Descent Winds service, provides very accurate and tailored wind information in  real-time to all Southwest Airlines aircraft and routes. This leads to improved flight performance, increased situational awareness and reduced workload for pilots. The use of optimal Aventus wind data also positions Southwest for continued NextGen initiatives, with requirements for, for example, time-based operations.
 

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 October 28th, 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: certifiedadviser@redeye.se andtelephone number +46 (0)8 121 576 90.

Source: Cision
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