Rovsing A/S releases its Annual Report 2021/22
September 09 2022 - 3:08AM
Rovsing A/S releases its Annual Report 2021/22
Rovsing A/S releases its Annual Report
2021/22
The Board of Directors of Rovsing A/S (Rovsing)
has today approved the Annual Report for the financial year
2021/22.
Highlights of the financial
year
- The financial year 2021/22 was in
line with the adjusted guided expectations (Announcement no. 332),
with a revenue amounting to DKK 27,0 million, compared to a revenue
of DKK 27,5 million in 2020/21.
- The EBITDA amounts to DKK 1,1
million, compared to DKK 2,5 million in 2020/21.
- During 2021/22, the planned
activities on the large Galileo 2nd Gen EGSE project were shifted
significantly due to delayed incoming Customer requirement updates.
In addition, NASA and ESA announced a 1-year overall postponement
of the Mars Sample Return mission impacting equally Roving’s
deliveries on this mission. Due to these shifts of deliveries, the
Company was unable to recover the delayed revenue before the end of
the financial year. Moving into next financial year, the overall
contractual volume of the mentioned delayed projects has increased
and both projects are expected to be back in full momentum.
- In 2021/22, Rovsing has continued
to strengthen its market position based on the delivered
performance and value, by supporting its customers as an important
key supplier on major ongoing space missions, delivering test- and
simulation systems, individual products, software solutions, ISVV
and on-site engineering services.
- With a further increased order
backlog as of today of DKK 42,2 million, Rovsing enters into
financial year 2022/23 with a positive operational outlook, with
larger ongoing projects entering the implementation phase the risk
of delays due to changes is reduced. The addition of new commercial
and institutional customers such as SITAEL, Astroscale, EUMETSAT
and NASA-JPL speaks to the Company’s strengthened reputation and
market position. In addition, the Company has a large project
pipeline with many issued proposals in H2 of 2021/22 which still
must be decided upon in H1 of 2022/23.
- The tender activity level remains
at a high level within the industry with Rovsing continuing its
focus on being agile, competitive and responsive to upcoming
tenders and prospects as the industry continues to grow and demand
for our products and services expands to parallel segments.
- Based on the strong order backlog and continued positive
development in projected order intake, the revenue outlook for
2022/23 is expected to be in the range of DKK 31 to 33 million,
with a positive EBITDA in the range of DKK 2,5 to 3,5 million.
Further information:Hjalti Pall
Thorvardarson, CEO. Tel. +45 53 39 18 88. Email: hpt@rovsing.dk
Investor call:Rovsing will host
an investor call via Teams on Wednesday 14 September 2022 from
14:00 to 15:00 with the participation of CEO Hjalti Pall
Thorvardarson, CFO Sigurd Hundrup and COB Michael Hove. The
investor call will also include the option of a Q&A session. If
you wish to participate, then please request a meeting invite by
sending an email to hpt@rovsing.dk
- Announcement335_Annual_Report_2021-22_final
- ROVSING Annual Report 2021-2022_final
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