Noerresundby, Denmark, 19 September 2022
Announcement no. 16/2022
RTX upgrades its revenue and earnings expectations for the financial year 2021/22 due to a stronger delivery performance in Q4 of 2021/22 than previously expected.
The expected revenue in 2021/22 is upgraded from previously above DKK 550 to 610 million to now around DKK 650 million. The increase in expected revenue reflects a delivery performance in Q4 stronger than previously expected. The stronger delivery performance is driven by the component scarcity in the electronics industry beginning to improve, by successful component redesigns and by the absence of other extraordinary supply challenges such as lockdowns affecting production, shipping and logistics etc. in Q4. A shortage of components is still seen, but the situation has improved towards the end of RTX’s financial year.
The expected EBITDA is upgraded from previously DKK 50 to 70 million to now around DKK 80 million. The expected EBIT is upgraded from previously DKK 10 to 30 million to now around DKK 40 million. The higher expected earnings are caused by the expected revenue and gross margin levels. While expected revenue is higher, the expected gross margin level is impacted by the revenue mix (with higher product sales driving the increase in expected revenue) and by the need to secure components in the spot buy market and through other channels.
Guidance overview financial year 2021/22:
Original outlook 2021/22 (30 Nov 2021)
Previous outlook 2021/22 (7 July 2022)
Updated outlook for 2021/22
Above DKK 520 million
DKK 550 to 610 million
Around DKK 650 million
Above DKK 50 million
DKK 50 to 70 million
Around DKK 80 million
Above DKK 10 million
DKK 10 to 30 million
Around DKK 40 million
The above statements on future revenue and operating profit (EBITDA and EBIT) reflect Management’s current outlook and carry some uncertainty. These statements can be affected by a number of risks and uncertainties, which mean that actual developments and results can be materially different from the expectations expressed directly or indirectly in this company announcement. These risks and uncertainties include, but are not limited to, general economic conditions and developments including the impact of the COVID-19 pandemic, changes in demand for RTX’s products and services, competition, technological changes, fluctuations in currencies, component costs and availability and fluctuations in sub-contractor supplies as well as legislative and/or regulatory changes.
RTX announces its annual report for 2021/22 on 29 November 2022.
Enquiries and further information:
CEO Peter Røpke, tel +45 96 32 23 00
RTX’s homepage: www.rtx.dk