Aerowash (AERW) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 reached 59,761 KSEK, a 48% increase year-over-year, with a positive operating result and improved cash flow from operations to -771 KSEK from -7,093 KSEK in 2023.

• Major order of 15.7 MSEK received from AISATS for Mumbai, and significant presence at industry expos, boosting market visibility.

• Sustainability benefits of the dry wash concept recognized, with AISATS winning a Green Apple Award for environmental impact.

• International expansion efforts intensified, with growing interest from airlines in Asia and India.

Financial highlights

• Operating income for 2024 was 667 KSEK, up from 242 KSEK in 2023; net income after tax was -2,560 KSEK, an improvement from -2,762 KSEK.

• Q4 2024 net sales were 8,121 KSEK, nearly flat compared to Q4 2023; Q4 operating loss was -3,533 KSEK.

• Earnings per share for 2024 improved to -0.19 SEK from -0.29 SEK in 2023.

• Cash and cash equivalents at year-end were 543 KSEK.

• Equity at year-end was 45,428 KSEK, with a solid equity ratio of 61%.

Outlook and guidance

• Strong sales growth and improved cash flow in 2024 set the stage for intensified international expansion in 2025, with ongoing business discussions and robust global customer interest.