Fourth quarter: 1 October - 31 December 2024
- Net sales amounted to MSEK 17.6 (6.7), an increase of 164?% compared to the fourth quarter of 2023. Of this, approximately MSEK 4 was related to sale of production equipment.
- EBITDA improved and amounted to MSEK -11.4 (-17.7), while EBITDA adjusted for results from shares in associated companies amounted to MSEK -7.8 (-13.2).
- The operating result/EBIT amounted to MSEK -13.2 (-19.7), whereas operating result adjusted for results from shares in associated companies amounted to MSEK -9.6 (-15.2).
- The result for the period amounted to MSEK -12.1 (-19.8).
- Earnings per share before and after dilution was neg. (neg.).
- Cash flow for the period improved and amounted to MSEK -14.4 (-13,5). Cash flow has been affected by changes in working capital, mainly due to increased accounts receivable.
- The Group's cash and cash equivalents amounted to MSEK 40.8 (89.3).
Full year January - December 2024
- Net sales amounted to MSEK 66.1 (27.5), an increase of 140?%, compared to the same period in 2023.
- EBITDA amounted to MSEK -47.1 (-62.8), while EBITDA adjusted for results from shares in associated companies improved and amounted to MSEK -32.0 (-48.3).
- The operating result/EBIT amounted to MSEK -54.4 (-71.3), whereas operating result adjusted for results from shares in associated companies amounted to MSEK -39.4 (-56.8).
- The result for the period amounted to MSEK -52.1 (-69.2).
- Earnings per share before and after dilution was neg. (neg.).
- Cash flow for the period amounted to MSEK -49.3 MSEK (-96.1).
Significant events during the period:
- Gapwaves and Valeo entered into a joint development and supply agreement for radar antennas.
- Gapwaves was awarded funding by Vinnova for a new 6G research project.
- Gapwaves inaugurated a production facility in Gothenburg.
- Bosch and Gapwaves discontinued the joint development agreement for a particularly advanced radar product, based on their perception of weak market demand for high-resolution radar for automated driving.
- An order was received from a new North American Tier 1 automotive customer.
- A development and prototype order was received from Hella.
- Gapwaves and Smartmicro entered into a new product sales agreement for volume deliveries of waveguide antennas.
Significant event after the end of the period:
- Gapwaves appointed Frencken Group as a production partner for high-volume manufacturing of waveguide antennas for Valeo.
- Gapwaves entered into an agreement for the sale of high-volume production equipment to Frencken Group.
- Gapwaves received a follow-up order from the North American Tier1.
CEO Jonas Ehinger comments: "We have had strong growth and are experiencing increased interest from customers in several segments, with new strategic agreements and a new production facility in Gothenburg enabling future expansion and innovation. Focus 2025 is to continue strengthening both our production capacity and our customer pipeline, and to drive long-term growth."
The full report is available as attached PDF and on the company's website https://www.gapwaves.com/investors/financial-reports-and-documents/
Online presentations
Gapwaves CEO Jonas Ehinger will hold two presentations today, February 7th, regarding the fourth quarter.
The first presentation will begin at 9:30 AM, followed by a Q&A session moderated by G&W Fondkommission. The presentation and Q&A session will be held in Swedish. Participants will have the opportunity to ask questions through the chat function. To participate, please register via this link at the latest today, February 7th, at 9:00 AM: https://events.teams.microsoft.com/event/80ab8b12-8311-4ec4-b3f7-4dae92ce14c6@6137c0b0-f16e-4ae1-ba3a-7fcede0c24a7
The second presentation will start at 11:00 AM, followed by a Q&A session. The presentation and Q&A session will be held in English. You can ask questions beforehand using the link below. To participate, please register via the same link: https://www.finwire.tv/webcast/gapwaves-2/q4-2024/. A recording of the presentation will be available afterwards on the company's website.
For more information, please visit www.gapwaves.com or contact:
Jonas Ehinger, CEO?Gapwaves?AB?(publ)
Phone number:?+46?733 44 01 52
E-mail:?jonas.ehinger@gapwaves.com
Robert Berhof, CFO?Gapwaves AB (publ)
Phone number: +46 706 00 59 07?
E-mail:?robert.berhof@gapwaves.com?
Gapwaves?Certified Adviser is G&W?Fondkommission?AB?
www.gwkapital.se
About Gapwaves AB (publ)
Gapwaves AB (publ) originates from research conducted at Chalmers University of Technology and was founded in 2011. Gapwaves' vision is to be the most innovative provider of mm-wave antenna systems and the preferred partner to those pioneering next generation wireless technology for a safer and more sustainable society. By leveraging the disruptive Gapwaves technology, we help pioneers in automotive and telecom to create highly efficient mm-wave antenna systems that contributes to re-defining everyday life.
Gapwaves' share (GAPW B) is traded on the Nasdaq First North Growth Market Stockholm with G&W Fondkommission as certified adviser.
This information is information that Gapwaves is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-07 06:59 CET.
