Financial Reports

Key Financials

See the five-year financial highlights here.

Outlook 2021/22

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.

 

DKK million Result 2018/19 Result 2019/20 Result 2020/21 Outlook 2021/22
Revenue 560.3  555.9 457.2 Above 520
EBITDA 100.2 108.2 37.3 Above 50
EBIT 86.7 83.6 6.1 Above 10

 

 

Outlook 2021/22

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.

Long Term Financial Ambitions

Assumptions
The long-term financial ambitions are based on constant currencies with the ambitions especially being sensitive to the USD/DKK exchange rate. They are also based on the current macroeconomic and political climate, where major developments may impact the ambitions. Specifically, it is expected that the effects of COVID-19 and the resulting global economic consequences will continue to diminish and have no effect on the last two years of the period. Further, it is expected that the global component shortages and supply chain and logistic impediments will normalize at least before 2023/24. The ambitions are also based on component costs returning to their long-term trend lines (i.e., that the increased costs seen on certain components normalize before 2023/24).

Organic Revenue Growth

Revenue > 800 mDKK in 2023/24

Based on the strategy of deploying RTX’s “wireless wisdom” in selected B2B target markets for growth via recurring revenue and based on execution of existing and newer framework agreements, it is the ambition of RTX to grow revenues organically to reach at east DKK 800 million in the financial year 2023/24. This corresponds to an average annual growth rate of approximately 20% from the relatively low starting point in 2020/21.

Profitability

EBITDA >145 mDKK in 2023/24

Given the long-term revenue growth ambitions and given the leverage effect of increased recurring revenue on the scalability of human resources and other costs, it is the ambition of RTX to reach EBITDA of at least DKK 145 million in 2023/24. This corresponds to an average annual growth rate of approximately 57% from the relatively low starting point in 2020/21.