AVTECH's key figures, published ahead of the full report due on 23 October, showed net sales 4% below Redeye's expectations while EBITDA of SEK4.3m was 30% (SEK1.0m) ahead. Net sales fell 16% y/y to SEK10.3m, because Q3 was the first full quarter without LATAM's short-haul business. ARR of SEK43.2m was in line with our SEK43.0m and with the ~SEK43m the company flagged in August. The beat was not flattered by the SEK3.2m EU grant: according to the CEO, it lifted cash flow but not earnings. We may cut our cost estimates if the report confirms this quarter's cost level. The share was unmoved (+3%) on the release.
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