AVTECH: Fleet-wide easyJet deployment
Research Update
2017-08-24
16:18
AVTECH reported revenue of SEK 3.5 million (estimate SEK 3.4 million). EBIT was SEK -1.1 million, which also was in line with our estimates. Aventus Nowcast Full Flight will be implemented to the entire fleet at easyJet. This contract has the potential to be a larger revenue contributor than Southwest Airlines (AVTECH’s by far largest customer today). Our financial projections estimates a revenue growth of over 80 percent next year and 50 percent in 2019. Our DCF indicates a value range of SEK 2-11 with a base case of SEK 4.5 (unchanged since the last update).
TO
Tomas Otterbeck
Disclosures and disclaimers