AVTECH Sweden AB (publ) INTERIM REPORT January – March 2013
AVTECH Sweden AB (publ) presents Q1 Interim Report 2013
- The AVTECH-group turnover for the first quarter 2013 totaled MSEK 1,6 (1,3).
- Operating income (profit/loss) for the first quarter of 2013 was MSEK -2,4 (-2,3). Net profit/loss for the first quarter of 2013 totaled MSEK -2,6 (-2,4) or MSEK -0,20 (-0,19) per share.
- Cash flow from operating activities during the first quarter totaled MSEK -0,3 (-1,3) or SEK 0,02 (-0,10) per share. The group’s cash balance totaled MSEK 0,1 (0,0 by the end of 2011) at the end of the financial period, which is equivalent to SEK 0,01 (0,00) per share.
- Equity totaled MSEK 5,4 (8,3 by the end of 2012) or SEK 0,43 (0,65) per share. The group’s equity/assets ratio totaled 30,0 (40,2) percent.
- During the first quarter, AVTECH signed a fifth important contract regarding its Aventus NowCast™ product, with a major Asian airline, which has not yet been named.
- During the first quarter, Aventus NowCast was made available through the AIRCOM Server Online-solution by SITA (SITAS’s ATI Cloud), which means that the speed at which Aventus can be implemented by airlines will significantly increase, as a result of the minimized required input by their IT-departments.
Financial events after the reporting period
- In early April 2013, AVTECH also received payments from customers amounting to approx. MSEK 0,5 referring to work already carried out during previous financial periods. The company also secured additional short-term debt financing amounting to 2,0 MSEK from the owners, which is deemed to sufficiently meet the need for financial leeway, on which to implement a long-term financing solution during the second quarter of 2013.
For more information, please contact:
David Alvord, CEO /Jonas Saric, CFO
Tel: +46 (0) 8 544 104 88
(Full report attached as pdf, in Swedish only)
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety. The head office is in Stockholm, Sweden with subsidiaries in Toulouse, France and Dubai, U.A.E. AVTECH Sweden AB is listed on NASDAQ OMX First North and has appointed Mangold Fondkommission AB as Certified Adviser.