FINANCIAL KEY FIGURES FOR THE PERIOD
| 2025 | 2025 | 2024 | |
| MSEK | Quarter 2 | Quarter 1 | Quarter 2 |
| Net sales revenue | 11.8 | 10.5 | 8.6 |
| Operating earnings before depreciation | +5.5 | +5.1 | +4.0 |
| Net earnings | +4.1 | +3.7 | +2.7 |
| Net earnings per share, SEK | +0.073 | +0.065 | +0.048 |
| ARR | 47.6 | 47.2 | 34.1 |
| Cashflow | -2.8 | +2.6 | -5.3 |
| Cash and cash equivalents | 27.2 | 30.1 | 20.7 |
| Equity | 49.3 | 50.8 | 40.3 |
| Equity per share, SEK | 0.87 | 0.90 | 0.71 |
| Equity ratio, % | 91.9% | 92.8% | 90.2% |
- Net sales for the second quarter increased by 38.3% compared to the same period in 2024, thanks to the rollout of new customer agreements. This is again our highest quarterly revenue to date, despite a weaker USD/SEK exchange rate.
- Net earnings increased by 50.4% compared to the same period in 2024.
- Cash flow for the period was negative, primarily due to a dividend payout of approximately SEK 5.6 million in May. Delayed customer payments that are expected to come in during the next quarter also had a negative impact on cash flow.
EVENTS DURING THE PERIOD
TUI expands Aventus Full-flight Winds service agreement to TUIfly in Germany
On April 24, it was announced that TUI Airlines is expanding its existing service agreement for Aventus NowCast Full-Flight Wind Uplink service to also include TUIfly GmbH in Germany. This means the agreement now covers TUI's entire aircraft fleet. The additional portion of the agreement is expected to generate annual revenue of SEK 0.3-0.4 million, depending on the number of aircraft and the USD exchange rate. Under the agreement, AVTECH delivers precise and tailored weather uplinks to TUI's British, Belgian, Dutch, Swedish, and now also German airlines, which together operate more than 130 aircraft on both short- and long-haul routes.
Annual General Meeting 2025
On May 14, AVTECHs Annual General Meeting 2025 was held. The AGM resolved to approve the Board of Directors' proposal for a resolution and a dividend to the shareholders of an amount of SEK (0.10) per share in the Company. A total of approximately SEK 5.6 million. The record date for the dividend was 16 May 2025. Payment of the dividend was subsequently made on 23 May 2025. The remaining funds at the disposal of the Annual General Meeting were carried forward. More information can be found on the company's website Annual General Meeting AVTECH and in the notice Bulletin that was published afterwards.
AVTECH strengthens its organization with the appointment of two key executives
On June 10 AVTECH announced a strategic change and reinforcement of its executive team through the appointment of two new leadership roles. Nicklas Kittelmann has been recruited as Chief Technology Officer (CTO), responsible for technology and product development. At the same time, current Head of Technology and Operations, Bahram Bahar, will assume the role of Chief Operating Officer (COO), overseeing operational activities and customer implementations. The changes will take effect on August 18.
These appointments mark an important step in AVTECH's growth journey and reflect the ambition to further accelerate innovation and operational excellence. The restructured leadership team is designed to strengthen the company's strategic capabilities, drive technological development, and ensure an efficient and scalable operation. Together with the rest of the leadership team, the CTO and COO will play a central role in shaping the future direction of AVTECH. "I'm pleased to welcome Nicklas Kittelmann as CTO and Bahram Bahar as COO to our leadership team. They both bring experience and expertise that will be critical to AVTECH's continued growth and in meeting the high expectations of our customers and the market," says David Rytter, CEO of AVTECH. Nicklas Kittelmann brings a solid background and experience from leadership positions in growing SaaS companies, most recently as CTO at Skola24 and previously as Head of Development at Cabonline. Bahram Bahar has been serving as Technical Manager and Project leader at AVTECH since February 2020 and has extensive experience in operational project management and process development from his time at Ericsson. Bahram also has hands-on flight operations experience and holds a commercial pilot license from TFHS. Through these appointments, AVTECH strengthens its ability to meet increasing demand and take the next step in its development journey.
AVTECH strengthens its leadership team with the appointment of Christian Sandén as new Chief Commercial Officer (CCO)
On June 19 it was announced that Christian Sandén will assume the role of Chief Commercial Officer (CCO) at AVTECH on August 18, succeeding Lars Wernblom, who has held the position on an interim basis since February 2024. During his time as interim Head of Sales and Marketing, Lars Wernblom has implemented significant and positive changes in the sales organization, strengthening its structure, performance, and delivery capacity. His efforts have laid a solid foundation and momentum for the next phase of AVTECH's commercial development. Christian brings over 20 years of experience in sales, marketing, and commercial leadership across both established and fast-growing SaaS companies. Most recently, he served as CCO at Braathens Regional Airways, and previously held senior roles in sales and go-to-market strategy at Telia, Sekoia, and Matilda Foodtech. In his new position, Christian will take over leadership of AVTECH's teams across sales, marketing, customer success, and commercial strategy. He will be a member of the executive leadership team. "We are thrilled to welcome Christian Sandén to AVTECH as our new Chief Commercial Officer and executive team member. He brings valuable expertise and experience that will be crucial for our continued growth journey and in meeting the high expectations of our customers and the market", said David Rytter, CEO of AVTECH.
AVTECH is in a dynamic and exciting growth phase. This appointment is a strategic step aligned with the company's ambition to further strengthen its commercial organization, gain additional market share, and enhance its competitive positioning. With recent additions to its executive leadership team, AVTECH is boosting its strategic capacity, scalability, and ability to meet growing market demand and take the next leap in its growth journey.
EVENTS AFTER THE END OF THE PERIOD
Wizz Air expands Aventus and SIGMA service agreements to the entire group
On August 6 it was announced that following a successful evaluation of AVTECH's Aventus and SIGMA services, Wizz Air has now chosen to expand the existing 3-year agreement for Wizz Air UK to the rest of the Wizz Air Group. This means that Wizz Air Hungary Ltd and Wizz Air Malta Ltd are now also covered by the agreement. The expected annual value is in the range of 4,2 to 5,8 MSEK depending on the fleet size and the EUR exchange rate. AVTECHs in-flight services are based on the latest high-resolution aviation weather forecasting from the UK Met Office. Aventus delivers precise and tailored wind and temperature information to the cockpit in-flight, while SIGMA provides automatic notifications about turbulence and other weather hazards along the flight path. This leads to improved flight efficiency, punctuality, and passenger comfort on Wizz Air UK flights. Diarmuid Ó Conghaile, Chief Operations Officer at Wizz Air, says: "Wizz Air is proud to be the first adopter of these system, well ahead of our main competitors. This functionality operates behind the scenes, but the benefits are noticeable for passengers on board. Our customers will experience quieter, smoother flights with less turbulence, especially during climb and descent. This development fits perfectly with the airline's Customer First Compass initiative. By combining the latest advances in weather forecasting and flight planning, Wizz Air is giving its 2,700 pilots the latest generation in in-flight tools to serve our more than 75 million annual passengers with a better flying experience." David Rytter, CEO at AVTECH, says: "We are pleased to expand our service delivery to Wizz Air following a comprehensive product evaluation process. AVTECHs in-flight services are powered by the latest high-resolution aviation weather forecasts from the UK Met Office. The Aventus and SIGMA service combination delivers accurate and tailored wind and temperature information to the cockpit during flight, along with automatic and precise alerts for turbulence and other weather hazards along the flight path. We look forward to a strong collaboration with Wizz Air, aimed at enhancing flight efficiency, punctuality, and passenger comfort across their operations."
Financial reports are available at:
www.avtech.aero/report
https://www.avtech.aero/press-release-english
For more information, please contact
David Rytter, CEO, +46 (0) 8 544 104 80
Christina Zetterlund CFO, +46 (0) 8 544 104 80
About AVTECH Sweden AB (publ)
AVTECH develops products and services for digital air traffic control systems. Customers are the aviation industry's various players such as airlines, airports, aviation, technology companies and aircraft manufacturers. With the help of the company's products and services, each individual flight or the entire flight operation can be optimized in terms of economy, noise and emissions, efficiency, punctuality and safety. The head office is in Stockholm. AVTECH Sweden AB (publ) is listed on NASDAQ First North Growth Market and has appointed Redeye AB to certified adviser.
