Statements on future conditions
The following statements on the Group's future conditions, including, in particular, future revenue and operating profit (EBITDA and EBIT), reflect Management's current outlook and carry some uncertainty. These statements can be affected by a number of risks and uncertainties, many of which are outside the control of RTX, which means that actual developments can be different from the indicated outlook. These risks and uncertainties include - but are not limited to - general business and economic conditions (including the impact of the COVID-19 pandemic), changes in demand, competition, technological changes, fluctuations in sub-contractor supplies, the availability and time of delivery of components, regulatory changes as well as foreign exchange and interest rate fluctuations.
With high customer activity and with a strong order book for 2021/22, RTX has a good starting point demand wise for 2021/22. However, the outlook is impacted by the global component shortage and the uncertainty related to component deliveries in the financial year. Component deliveries will therefore be of high importance for the actual results in 2021/22.
The outlook assumes that the impact of component shortages and other supply chain and logistic impediments is on a similar level as during the latter part of 2020/21 and that any impact from new COVID-19 waves will be limited. It further assumes that there will be a full- year effect of the price increases on certain components seen towards the end of 2020/21 and that growth will mainly be driven by product sales with the corresponding effect on the mix of revenue streams and the gross margin. As described in the Annual Report, RTX is exposed to US dollar fluctuations as a considerable part of revenues is settled in US dollars. For a more complete list of assumptions, refer to pages 22-23 of the Annual Report 2021/22.
As in the previous years, revenue and earnings in 2021/22 are expected to be backloaded towards the second half of the year.