Redeye: AVTECH - Higher marketing momentum

AVTECH reported net sales of SEK 3.1 million (estimate SEK 3.8 million) in Q3 2018. EBITDA of SEK 0.9 million was however in line with our estimates of SEK 0.7 million. Our estimated revenue growth from Easyjet continues to be slower than expected. On October 5, AVTECH announced a “Letter of Intent” with Norweigan Air Shuttle. We expect a signed commercial contract is possible before the end of 2018. However we do not expect an imminent revenue boost for AVTECH, as the roll-out with Easyjet has been weak when it comes to growth in revenue. We have therefore lowered our estimated sales growth in 2019.

Read our new reseach update at: http://bit.ly/2OQ2RxX 

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