Rovsing A/S: Interim Management Statement covering Q1 2023/24

Interim Management Statement covering Q1 2023/24

The Board of Directors of Rovsing A/S has today reviewed and approved the Interim Management Statement for the first quarter (1 July 2023- 30 September 2023) of the financial year 2023/24.

Q1 highlights

• The Q1 2023/24 revenues and EBITDA are in line with expectations.
  
  
  • In Q1 of the financial year 2023/24, the revenue amounted to DKK 8,1 million (DKK 5,5 million in Q1 2022/23), which is an increase of 47%.
    
    
  • Q1 EBITDA amounts to DKK 0,6 million (DKK 0,0 million in Q1 2022/23).
    
    
• The Company maintains a high order backlog of DKK 62,1 million at the end of Q1. On this basis, Rovsing has a positive operational outlook and growth opportunities for the coming years as industry opportunities continue a positive trend. In order to execute the order backlog the Company has and will continue to scale up the organisation and capacities throughout the year.
  
  
• During Q1 2023/24, our team has continued to support a wide range of institutional, commercial and military customers, delivering test- and simulation systems, individual products, software solutions, ISVV and on-site engineering services. Rovsing has an extensive range of projects in different implementation stages, which strengthens our robustness and foundation to build upon while we continue to expand our market reach.
  
  
• Given the growth perspectives, the Company for the moment is exploring various options to strengthen its capital structure.
  
  
• The outlook for 2023/24 is maintained with a revenue in the range of DKK 37,0 to 41,0 million and a positive EBITDA in the range of DKK 3,5 to 4,5 million.
  
  

Further information:

Hjalti Pall Thorvardarson, CEO. Tel. [phone]. Email: [e-mail]