Windar Photonics PLC New Order and Trading Update (0980W)
08 Diciembre 2023 - 1:00AM
UK Regulatory
TIDMWPHO
RNS Number : 0980W
Windar Photonics PLC
08 December 2023
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
8 December 2023
Windar Photonics plc
("Windar Photonics" , the "Company" or the "Group")
New Order and Trading Update
Windar Photonics (AIM: WPHO), the technology group that has
developed a cost efficient and innovative LiDAR wind sensor for use
on electricity generating wind turbines, is pleased to announce
that it has received a new order for delivery during 2024. The
order is from an existing Chinese customer and the gross value of
the order is EUR2.6m.
The Company is also confident that an additional order from
another existing Chinese customer will be signed in the near term.
This order will also be for delivery in 2024 and will have a gross
value of EUR1.5m. This order will be confirmed in due course.
As previously indicated, the Company is and remains confident of
confirming further volume orders from North America, Australia and
Japan in early 2024.
The considerably improved outlook for orders has led the Company
to accelerate its ambitious plans for increasing the production
capacity of the group, as mentioned in the interim results
announcement of 25 September 2023.
In the near term, the supply chain challenges have been greater
than envisaged at the time of the interim results announcement. As
a consequence, the Group's revenue for 2023 will not reach the
EUR6.5m level previously indicated and is expected to be closer to
EUR5.0m. Accordingly, EBITDA for 2023 is expected to be around
EUR700k. This outcome would still represent a record-breaking
revenue for the Company and its maiden profit.
More importantly, the Company emphasises that no orders have
been lost so that revenue originally budgeted for late 2023 will
now be received in early 2024 and investors should adjust their
2024 expectations appropriately.
Given the very healthy outlook for order volumes, the Board
remains resolutely committed to increasing production capacity
beyond 2000 systems per year and, notwithstanding the recent supply
chain issues, we expect this to be achieved during the latter half
of 2024.
Windar Photonics plc
Jørgen Korsgaard Jensen, Tel: +45 24234930
CEO
WH Ireland Limited (Nomad
& Broker)
Hugh Morgan / James Bavister Tel: +44 20 7220
/ Isaac Hooper 1666
Notes to Editors:
Windar Photonics is a technology group that develops
cost-efficient and innovative Light Detection and Ranging ("LiDAR")
optimisation systems for use on electricity generating wind
turbines. LiDAR wind sensors in general are designed to remotely
measure wind speed and direction.
http://investor.windarphotonics.com/
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END
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December 08, 2023 02:00 ET (07:00 GMT)
Windar Photonics (LSE:WPHO)
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