RTX (RTX) Q1 24/25 earnings summary

Executive summary

• Q1 2024/25 revenue increased 23% year-over-year to DKK 101 million, driven by strong Enterprise segment performance and new customer orders.

• Gross margin improved to 51% from 38.9% in Q1 2023/24, reflecting favorable product mix, cost control, and price increases.

• EBITDA loss narrowed to DKK -9.4 million from DKK -31 million year-over-year, mainly due to higher revenue and improved margins.

• Free cash flow was negative at DKK -14 million, but improved from DKK -23 million in the prior year.

• Full-year outlook for 2024/25 is maintained, with revenue expected between DKK 490–520 million and EBITDA between DKK 0–20 million.

Financial highlights

• Revenue Q1 2024/25: DKK 101 million (Q1 2023/24: DKK 82 million), up 23% year-over-year.

• Gross margin Q1 2024/25: 51% (Q1 2023/24: 38.9%), up significantly year-over-year.

• EBITDA Q1 2024/25: DKK -9.4 million (Q1 2023/24: DKK -30.5 million).

• Net liquidity at quarter-end: DKK 97 million.

• Equity ratio: 68%.

Outlook and guidance

• 2024/25 guidance confirmed: revenue DKK 490–520 million, EBITDA DKK 0–20 million, EBIT DKK -35 to -15 million.

• Orderbook visibility remains short at 3–6 months, but order pipeline is building in all segments.

• Healthcare expected to deliver more than 10% revenue growth, but less than double last year, as new products launch.