Bawat Announces Q4 2022 Report
21 February 2023
Bawat Water Technologies AB (BAWAT) today announces its Q4 Report for 2022. The report is available on Bawat’s website (investor.bawat.com)
Marcus P. Hummer, CEO comments on the developments in the fourth quarter: “The quarter shows the challenge in predicting timing for Order Intake. We didn’t reach our guidance for the full year as already announced in January but are pleased to report that one of the two larger orders that made up the bulk of the missed guidance has been confirmed in February 2023. Activity on the commercial side of the business is high and the increase in quoting activity is across all three activity legs in Bawat at an all-time high.
As also reported in third quarter, we have further seen the increase in gross profit in the fourth quarter to 64.4 %, and already now Bawat is close to the predicted long term gross profit margin of 20% for ship systems. This gives us comfort in our project execution after signed contracts – both for ships as well as for mobile systems, and in the years to come we are certain to reach 30% or more in gross profit for the company depending on the sales mix.”
“For the full year 2023, order intake is guided to SEK 40-60m and an estimated EBITDA break-even is forecasted to be reached in H2 2024. The forecast is based on projected revenue, cost, and margin structure.”
Find the full Q4 2022 report here: https://investor.bawat.com/company-reports/
Watch CEO Marcus Hummer present the Q4 Results 2022 with HC Andersen Capital: https://www.youtube.com/watch?v=eUe_enbdndI