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Interim Management Statement covering Q1 2021/22

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Interim Management Statement covering Q1 2021/22

The Board of Directors of Rovsing A/S has today considered and approved the Interim Management Statement for the first quarter (1 July 2021 – 30 September 2021) of the financial year 2021/22.

Q1 highlights

  • In Q1 of the financial year 2021/22, the revenue amounted to DKK 5,6 million (DKK 5,8 million in Q1 2020/21).

  • Q1 EBITDA amounts to DKK 0,1 million (DKK 0,4 million in Q1 2020/21).

  • Rovsing’s Q1 is traditionally a quarter with a lower activity level in our industry due to the summer vacation period.

  • Rovsing’s market situation remains positive, with many new programmes upcoming in the industry both commercially and as well in the institutional segment, with further tenders and prospects expected during the financial year. The order backlog currently amounts to DKK 39 million, covering the guided revenue for the financial year.

  • The Rovsing team has realized key milestones with its Customers in Q1 2021/22, kicking off the important Galileo 2nd Generation EGSE contract for Thales Alenia Space Italy and delivering the 3rd set of MPCV-ESM PCDU EGSE to Leonardo in Milan for the Artemis programme. Our team is also keeping momentum on activities for the PLATO, FLEX, SMILE and Mars Sample Return missions.

  • The relocation of the Company to new premises has also taken place during Q1. This is a major improvement for the Company’s operations and already facilitating our ability to efficiently deliver on our growing project portfolio.

  • The global supply chain pressure on the electronic component market continues to draw focus with price and lead-time increases. Until now the impact on ongoing projects has been kept to a minimum by the Rovsing team with utilization of existing stock, the Company secured earlier in 2021, as well as coupled with good cooperation with suppliers. Management continues to seek ways to mitigate the situation with our supply chain and customers in the current volatile environment.

  • Based on the current order backlog, the outlook for 2021/22 is maintained with a revenue in the range of DKK 34 to 36 million and a positive EBITDA in the range of DKK 3,5 to 4,5 million.

Further information:

Hjalti Pall Thorvardarson, CEO. Tel. +45 53 39 18 88. Email: hpt@rovsing.dk

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