Avtech Sweden

FINANCIAL KEY FIGURES FOR THE PERIOD

• Net sales in the first quarter increased by 37.4% compared to the same period in 2023 thanks to new customer agreements. This is our best quarterly sales to date.
• Net earnings increased by 108.4% compared to the same period in 2023.
• Cash flow increased by 205.9% compared to the same period in 2023.

EVENTS DURING THE FIRST QUARTER

• On January 8th it was announced that SAS Scandinavian Airlines System Denmark-Norway-Sweden has entered into a 2-year agreement for AVTECHs ClearPath service, with an expected start date in January 2024 and an expected total value in the range of 5.0 to 6.5 MSEK dependent on the number of SAS group aircraft and flights operating with the service. The ClearPath flight optimization service, based on state-of-the-art high-resolution aviation weather forecasting from the Met Office, provides precise and tailored tactical decision support for SAS pilots to improve the efficiency of each individual flight. By providing its flight crews with up-to-date guidance on the most efficient flight altitudes, SAS can take maximum advantage of prevailing winds and temperatures to reduce its overall carbon emissions. In addition, ClearPath also warns of turbulence along the flight path which increases the comfort for all passengers travelling with SAS. With the ClearPath service, SAS is estimated to be able to reduce its carbon dioxide emissions by 6,000 tons per year, which is equivalent to the annual emissions of 1,626 Swedes.
• On March 26, it was announced that the Board of Directors of AVTECH proposes a dividend of SEK 0.10 per share, corresponding to approximately SEK 5.6 million, and will shortly convene an Annual General Meeting. "The Board of Directors of AVTECH has decided to propose a dividend. Through continuous positive earnings and good financial strength, the Board of Directors proposes a dividend of SEK 0.10 per share for the upcoming Annual General Meeting. Even after the dividend, we have good financial liquidity and will be able to continue to invest in the business to further strengthen our position," says Chairman of the Board Ingvar Zöögling. If the Annual General Meeting resolves on a dividend in accordance with the Board of Directors' proposal, the first day of trading excluding the right to dividend will be Thursday 16 May 2024. The record date for the right to receive dividend is proposed to be Friday, May 17, 2024. Provided that the Annual General Meeting approves the Board of Directors' proposal, the dividend is expected to be distributed on Thursday 23 May 2024 from Euroclear Sweden AB. The Annual General Meeting will be held on Wednesday, May 15, 2023.
• On January 8th, a one-year agreement was signed with Air Caraïbes and French bee for AVTECH's advanced wind uplink service Aventus, with a start in January 2024 and expected total value in the range of 0.2 to 0.4 MSEK dependent on fleet and EUR exchange rate development. These two airlines belong to the same group (Dubreuil Group) and with their fleet of a total of about 15 wide-body Airbus A350 and A330 aircraft links Paris with destinations in the Caribbean, Guyana, Reunion Island, French Polynesia, and destinations in North America.