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Interim Management Statement covering Q1 2022/23

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

Interim Management Statement covering Q1 2022/23

The Board of Directors of Rovsing A/S has today reviewed and approved the Interim Management Statement for the first quarter (1 July 2022– 30 September 2022) of the financial year 2022/23.

Q1 highlights

  • In Q1 of the financial year 2022/23, the revenue amounted to DKK 5,5 million (DKK 5,6 million in Q1 2021/22).
  • Q1 EBITDA amounts to DKK 0,0 million (DKK 0,1 million in Q1 2021/22).
  • Rovsing has had a busy Q1 conducting contract negotiations as many tenders have been awarded following the summer break, here our position in the market has been proven strong, showcased by award of contracts by Astroscale, Airbus Defence and Space, Thales Alenia Space and Jena-Optronik in support of a range of Earth Observation, Science and Commercial missions such as ELSA-M, ARIEL, LSTM, CRISTAL, CIMR and Mars Sample Return. Overall, the order intake to date amounts to DKK 23,0 million.
  • The aforementioned mission activities for Rovsing are all starting within H1 of 2022/23 with first deliveries expected before the end of the financial year and continuing into the following years for recurring systems deliveries.
  • To support the overall increased level of business activities, product development efforts and product sales, Rovsing has reached an agreement with Vækstfonden for a loan of DKK 2,5 million aimed at accelerating our growth strategies.
  • Underlining Rovsing’s strong market position, the current order backlog of DKK 47,9 million is at a historical high level, providing a solid base for positive operational outlook in the coming years. Overall, the industry continues its growth with further tenders and prospects expected to be issued and settled during the next financial year despite volatile environment the Space sector remains an important strategic critical infrastructure segment with a solid growth.
  • The outlook for 2022/23 is maintained with a revenue in the range of DKK 31 to 33 million and a positive EBITDA in the range of DKK 2,5 to 3,5 million.

Further information:

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

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