AVTECH (Q3 Initial take): Capitalisation carries the beat, pipeline in a holding pattern - Redeye

AVTECH's full Q3 report confirmed the key figures from 13 October: net sales of SEK10.3m (-16% y/y) and EBITDA of SEK4.3m, SEK1.0m above our estimate. The report shows that the beat came from higher capitalised development (SEK3.2m against our SEK1.3m) and other income, not lower costs: personnel and external costs were SEK10.4m, flat q/q and up 36% y/y as headcount rose to 28. On the pipeline, no trial has yet converted into a contract, but they have ~40 qualified dialogues.

Länk till analysen i sin helhet: https://www.redeye.se/research/1188607/avtech-q3-initial-take-capitalisation-carries-the-beat-pipeline-in-a-holding-pattern?utm_source=finwire&utm_medium=RSS