AVTECH: Higher marketing momentum
AVTECH reported net sales of SEK 3. 1 million (estimate SEK 3. 8 million) in Q3 2018. EBITDA of SEK 0.
9 million was however in line with our estimates of SEK 0. 7 million. Our estimated revenue growth from Easyjet continues to be slower than expected.
On October 5, AVTECH announced a “Letter of Intent” with Norweigan Air Shuttle. We expect a signed commercial contract is possible before the end of 2018. However we do not expect an imminent revenue boost for AVTECH, as the roll-out with Easyjet has been weak when it comes to growth in revenue.
We have therefore lowered our estimated sales growth in 2019.