Rovsing A/S Highlights Growth in Annual Report for 2023/24

Annual Report Overview for 2023/24

Annual Report 2023/24

The Board of Directors of Rovsing A/S has approved the Annual Report for the financial year 2023/24, providing insights into the company’s performance and strategic direction.

Key Financial Highlights

In the financial year 2023/24, Rovsing A/S experienced remarkable growth, achieving a revenue of DKK 39.3 million, marking a significant increase from DKK 28.3 million in the previous year. This 39% rise demonstrates Rovsing's ability to capture market demand effectively.

Performance Metrics

Rovsing’s EBITDA also improved, reaching DKK 2.9 million compared to DKK 1.0 million the year prior. The company reported an EBIT of DKK 1.0 million, a notable turnaround from a loss of DKK 1.0 million in 2022/23. Furthermore, net profit increased to DKK 0.2 million, showcasing successful turnaround efforts that have culminated in a positive net result for the first time in several years.

Order Backlog and Market Outlook

As of June 30, 2024, Rovsing's order backlog stood at a robust DKK 38.8 million. While the order intake for the year was lower at DKK 10.2 million, this figure reflects the longer lead times characteristic of the industry as well as the cyclical nature of mission phases. Despite these challenges, Rovsing's diverse order portfolio across institutional and commercial sectors underpins a positive operational outlook.

Operational Expansion

In anticipation of ongoing growth, Rovsing is bolstering its organizational capacity and operations by investing in additional resources. The company is committed to scaling its operations further to meet customer demands and market expectations throughout 2024/25.

Leadership and Strategic Improvements

This past year, Rovsing has implemented several critical changes to enhance its capital structure and reduce financial burdens. A newly appointed Board of Directors, bringing in a wealth of expertise, is focused on steering the company towards sustained growth in the European market.

Transition to Growth Stage

Rovsing is successfully moving from a phase of turnaround into one of growth. The leadership team is dedicated to ensuring operational stability while leveraging existing strengths in test systems, product development, and software validation services to open up new market opportunities.

Client Engagement and Projects

Throughout 2023/24, Rovsing has delivered a wide array of products and services to notable customers including OHB, Airbus DS, Thales Alenia Space, and Boeing. The company has contributed significantly to major missions such as Galileo 2nd Generation, showcasing its capabilities and commitment to innovation in the space sector.

Current Challenges and Future Forecast

The conclusion of Rovsing’s onsite service operations at CSG Kourou at the end of 2023 resulted in some one-time expenses that impacted EBITDA. Nevertheless, due to a strong order backlog and continued positive developments within the company, the revenue outlook for 2024/25 is promising, with expected revenues between DKK 40.0 million and DKK 42.0 million, along with projected EBITDA and EBIT reflecting positive outcomes.

Further Information

For more insights, please contact Hjalti Pall Thorvardarson, CEO, at +45 53 39 18 88 or via email at hpt@rovsing.dk.

Frequently Asked Questions

What key metrics were highlighted in the Annual Report 2023/24?

The report highlighted a revenue of DKK 39.3 million, EBITDA of DKK 2.9 million, and a positive net profit of DKK 0.2 million.

How has Rovsing A/S responded to market challenges?

Rovsing strengthened its organization and adopted a growth-focused strategy to overcome market challenges and enhance operational resilience.

What industries is Rovsing primarily involved in?

Rovsing primarily operates in the space sector, providing test systems and software validation services.

Who can I contact for more information about Rovsing A/S?

For further information, you can reach out to Hjalti Pall Thorvardarson, CEO, by phone or email.

What is the revenue outlook for 2024/25?

The revenue outlook for 2024/25 is projected to be between DKK 40.0 million and DKK 42.0 million, reflecting continued growth.

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