Nørresundby, Denmark, 28 August 2024
Announcement no. 42/2024
Q3 SHOWS INCREASE IN REVENUE BUT CHANGES IN MARKET DYNAMICS AND VERY SHORT
ORDER HORIZONS REDUCE VISIBILITY FOR THE OUTLOOK.
"The Q3 results align with our expectations, achieving sales of DKK 142 million and reducing inventory by DKK 9 million compared to Q2 2023/24. We observed an increase in order intake this quarter, although not at the level we had anticipated in original guidance for the year. Our customers remain cautious with reorders, and due to short order horizon, our outlook visibility continues to be limited.
In late June, we provided an updated financial outlook for 2023/24, reflecting that our order book and deliveries could not meet our original outlook. The revised outlook now anticipates revenue of DKK 500-510 million (down from DKK 580-630 million) and EBITDA of DKK 0-10 million (reduced from DKK 45-60 million)."
HIGHLIGHTS
- Revenue in Q3 2023/24 reached DKK 142 million, which is higher than the communicated DKK 130 million, due to additional shipments end of Q3 instead of start Q4.
- Q3 2023/24 shows increase in new orders compared to previous quarter, however still with short horizon and lower than anticipated.
- EBITDA reached DKK 9 million for the quarter compared to DKK 1 million in Q2 2023/24.
- Inventory decreased by DKK 9 million during Q3 2023/24.
- Q3 2023/24 showed an increase in cash positions of DKK 13 million, including DKK 5 million spent on the share buyback programme.
OUTLOOK
On June 30, RTX announced an adjusted outlook, due to postponed orders and lower demand, in particular in the ProAudio segment, but also for one of our major customers in the Enterprise segment.
- Revenue DKK 500 to 510 million (from DKK 580-630 million)
- EBITDA DKK 0 to 10 million (from DKK 45-60 million)
- EBIT DKK -40 to -30 million (from DKK 5-20 million)
RTX A/S
PETER THOSTRUPPETER RØPKE
Chair President and CEO
Investor and analyst conference call
On Wednesday, 28 August 2024 at 13:30 CET, RTX will hold a conference call for investors and analysts hosted by Danske Bank.
To register for the conference call, please e-mail vonh@danskebank.dk.
Enquiries and further information:
CEO Peter Røpke, tel +45 96 32 23 00
CFO Mille Tram Lux, tel +45 96 32 23 00
RTX's homepage: www.rtx.dk
