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Interim Management Statement Q3 2022-23

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

 

Interim Management Statement covering Q3 2022/23

The Board of Directors of Rovsing A/S has today reviewed and approved the Interim Management Statement for the third quarter (1 January 2023– 31 March 2023) of the financial year 2022/23.

Q3 highlights

  • The Company has a current all-time high order backlog of DKK 69,3 million, based on new and incoming orders, which are expected to be delivered within the coming two fiscal years. On this basis, Rovsing has an increased positive operational outlook and growth opportunities for the coming years. Given the growth perspectives, the Company for the moment is exploring various options to strengthen its capital structure.
  • With recent additions of new projects, supporting customers such as ESA, Thales Alenia Space and Jena-Optronik in support of institutional missions ranging from Mars Sample Return, CIMR, ROSE-L and ESA GSTP programme as well as Sicral-3 in the national security and defense domain. Rovsing has further extended its range of projects in different implementation stages which strengthens our robustness and foundation to build upon while we continue to expand our organization and market reach.
  • The Q3 2022/23 revenues and EBITDA are in line with the adjusted expectations.
    • In Q3 of the financial year 2022/23, the revenue amounted to DKK 7,2 million (DKK 6,8 million in Q3 2021/22).
    • Q3 EBITDA amounts to DKK 0,3 million (DKK 0,2 million in Q3 2021/22), impacted by increasing recruitment cost and sales efforts to scale the organization to meet the increasing order backlog.
  • During Q3 2022/23, our team has continued to support a wide range of customers, delivering test- and simulation systems, individual products, software solutions, ISVV and on-site engineering services.
  • The global supply chain situation is expected to remain volatile in 2023 with the ongoing war in Ukraine. Prices and lead times remain dynamic and a high focus area of the team in order to mitigate swiftly upcoming issues and minimize related customer risks.
  • The adjusted outlook for 2022/23 is maintained with a revenue in the range of DKK 28 to 30 million and a positive EBITDA in the range of DKK 1,0 to 2,0 million.

Further information:

Hjalti Pall Thorvardarson, CEO. Tel. +45 53 39 18 88. Email: hpt@rovsing.dk

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