FOM Technologies raises revenue guidance for 2022 and 2023 by 15 pct. and 20 pct. respectively after strong order flow in Q4 2022
After a strong order flow in the last months of the year, FOM Technologies is raising revenue expectations for both 2022 and 2023 by 15 pct. and 20 pct. respectively. The order flow in the last months of the year thus supports a number of previously announced orders from battery and solar energy-related customers in the world’s absolute super league.
Increasing global demand for research equipment for the solar energy and battery industries drives international growth for Danish FOM Technologies, and interest in the unique Danish slot-die technology in the form of the company’s R/D equipment is increasing. The goal is to utilize FOM Technologies’ unique technology to meet demand for new high-tech solutions in response to a series of global challenges.
CEO Michael Stadi states that a strong capital base has meant that the company has been able to increase its inventory in H2 2022 and can therefore now serve customers with ultra-short delivery time. “It’s no secret that the world has experienced a severe shortage of critical machine/electrical components for the last 18-24 months. The only solution to this is skilled sourcing as well as greater stock retention. We have succeeded on both fronts and can thus increase turnover for the year, even if we only receive orders in the very last weeks of the year. The orders we do not deliver in the current calendar year will roll in as revenue in 2023, as we financially follow the calendar year,” says Michael Stadi.
Change of guidance and maturing for Small Cap listing in 2023
Based on order flow in general and the company’s overall pipeline, FOM Technologies is revising its guidance for revenue in both 2022 and 2023 (see table below). The company continues to strengthen the organization to embrace the expected increasing demand and by continuing to invest in innovation and product development. EBITDA expectations for both 2022 and 2023 therefore remain unchanged for now.
CURRENT FINANCIAL GUIDANCE FOR 2022:
Revenue: Range from DKK 40 mio. to DKK 43 mio.
EBITDA: Range from DKK 1 mio. to DKK 3 mio.
NEW FINANCIAL GUIDANCE FOR 2022:
Revenue: Range from DKK 46 mio. to DKK 50 mio. (+15,66 %)
EBITDA: Range from DKK 1 mio. to DKK 3 mio. (Unchanged)
CURRENT FINANCIAL GUIDANCE FOR 2023:
Revenue: Range from DKK 45 mio. to DKK 50 mio.
EBITDA: Range from DKK 2 mio. to DKK 4 mio
NEW FINANCIAL GUIDANCE FOR 2023:
Revenue: Range from DKK 55 mio. to DKK 60 mio. (+21,05 %)
EBITDA: Range from DKK 2 mio. to DKK 5 mio (Range changed to 3 mio. DKK)