RTX (RTX) Q4 23/24 earnings summary

Executive summary

• Revenue for 2023/24 was DKK 498 million, down from DKK 783 million the previous year, reflecting high customer inventory levels and lower demand, especially in Enterprise and ProAudio segments.

• EBITDA dropped sharply to DKK 3 million (2022/23: DKK 108 million), and EBIT was negative at DKK -34 million (2022/23: DKK 68 million).

• Net profit for the year was DKK -31 million, with EPS at DKK -3.8, compared to DKK 47 million and EPS of DKK 5.7 last year.

• The company maintained a strong equity ratio of 65.8% and a net liquidity position of DKK 108 million.

• No dividend will be distributed for 2023/24; a DKK 20 million share buyback was completed.

Financial highlights

• Gross margin improved slightly to 46.7% (2022/23: 45.8%) despite lower revenue.

• Cash flow from operations was DKK 21.5 million, down from DKK 97 million in 2022/23.

• Total assets decreased to DKK 491 million (2022/23: DKK 578 million), mainly due to reductions in inventory, receivables, and cash.

• Capitalized development costs increased to DKK 20 million, reflecting ongoing investment in new platforms and solutions.

Outlook and guidance

• For 2024/25, revenue is expected in the range of DKK 490–520 million, with EBITDA between DKK 0–20 million and EBIT between DKK -35 to -15 million.

• Macroeconomic and geopolitical uncertainty, as well as high customer inventory, continue to limit visibility and impact demand.

• Long-term ambition of DKK 1 billion revenue and EBITDA margin above 16% remains, but timeline for achievement is now open-ended.