Avtech Sweden

FINANCIAL KEY FIGURES FOR THE PERIOD

• Net sales in the fourth quarter increased by 22.1% compared to the same period in 2023, thanks to new customer agreements.
• Net earnings increased by 70.4% compared to the same period in 2023.
• Cashflow increased by 45.1% compared to the same period in 2023. Overdue customer invoices from previous quarters have largely now been paid and the remaining overdue accounts receivable are expected to be paid after the end of the period.

Key Figures for the Full Year

For the full year 2024, the net sales amounted to MSEK 34.3 (27.5), the net earnings was MSEK +12.6 (+9.0), and the cash flow was MSEK +4.6 (+8.2) compared to the full year 2023. This means that net sales increased by 25.1% and net profit by 38.8% compared to 2023. Cash flow from operating activities increased by 25% for the full year compared to 2023, but due to a dividend distribution to shareholders of MSEK 5.6, the cash flow was 44.0% lower than in 2023.

“We once again note that the net sales and results for the full year 2024 are our best to date, and the trend continues in a positive direction for AVTECH, thanks to the new agreements signed at the end of the year and a strong sales pipeline.

During the year, we also expanded our sales and technical organization with new resources, making us better equipped than ever for continued growth. In December, a new agreement was signed with Latam for Aventus and ClearPath following successful tests conducted during 2024. The services are already operational for an initial subset of Latam’s aircraft, and deployment to additional aircraft will continue in 2025.

Over 1,700 aircraft are currently using our services commercially, and we expect to significantly increase this figure in 2025. Test periods with several airlines have already been completed, while others are ongoing, and new ones will begin shortly. New contracts almost always follow a successful test, so the prospects for additional revenue in both the short and long term are deemed to remain strong,” said David Rytter, CEO.

“With this years strong results AVTECHs Board of Directors has once again decided to propose a dividend of SEK 0.10 per share for the upcoming Annual General Meeting in May. Even after the dividend, AVTECH has a strong liquidity position that allows us to continue investing in the business to further strengthen our position,” says Chairman of the Board Ingvar Zöögling.

If the Annual General Meeting decides on a dividend in accordance with the Board's proposal, the first day of trading without the right to dividend will be Thursday, May 15, 2025. The record date for the right to the dividend is proposed to be Friday, May 16, 2025. Provided that the AGM approves the Board's proposal, the dividend is expected to be paid on Friday, May 23, 2025, through Euroclear Sweden AB.

The full report for the fourth quarter will be published as planned in the Year-End report on February 7th, 2025.