ROV Rovsing A/S

Interim Management Statement covering Q3 2023/24

Interim Management Statement covering Q3 2023/24

Interim Management Statement covering Q3 2023/24

The Board of Directors of Rovsing A/S has today reviewed and approved the Interim Management Statement for the third quarter (1 January 2024– 31 March 2024) of the financial year 2023/24.

Q3 highlights

  • In Q1 through Q3 of the financial year 2023/24, the revenue amounted to DKK 29,3 million (Q1 to Q3 2022/23: DKK 20,7 million) or an increase of 41,6% (DKK 8,6 million).



  • EBITDA in same period amounted to DKK 2,0 million (Q1 to Q3 2022/23: DKK 0,8 million) or an increase of DKK 1,2 million.



  • The Company maintains a healthy and diverse order backlog of DKK 47,3 million, ranging across several different missions and customers in both institutional and commercial space. Execution of a number of parallel projects provides a positive operational outlook and improved robustness against external factors. The sales pipeline is strong with many bids issued and, in the works, as well with an industry outlook which remains high in both the short and long term.



  • Management and the Board of Directors have initiated the work on an updated strategy for Rovsing with the focus on the main themes: Growth, Diversification, Competitiveness, and Investor Relations. The strategy process will continue in the coming months, with the new strategy plan being presented as part of the upcoming Annual Report in September 2024.



  • The Q3 2023/24 revenues and EBITDA are in line with expectations.



  • In Q3 of the financial year 2023/24, the revenue amounted to DKK 11,4 million (DKK 7,2 million in Q3 2022/23) or an increase of 57,9% (DKK 4,2 million).



  • Q3 EBITDA amounts to DKK 0,8 million (DKK 0,3 million in Q3 2022/23), impacted by the controlled winding down of the onsite service business in CSG Kourou.



  • During Q3 2023/24, our team has continued to support a wide range of customers, delivering test- and simulation systems, individual products, software solutions, ISVV and on-site engineering services. The Company expects to ship several EGSE systems in the coming months, across customers and segments.



  • The adjusted outlook for 2023/24 is maintained with a revenue in the range of DKK 36,0 to 39,0 million and a positive EBITDA in the range of DKK 2,0 to 4,0 million.



Further information:

Hjalti Pall Thorvardarson, CEO. Tel. . Email:

 

Attachment



EN
14/05/2024

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