Telecom supplier Adva publishes record sales in the first quarter
High demand in the area of optical networking boosted the business of telecom equipment supplier Adva in the past quarter. Quarterly sales rose by 5.2 percent year-on-year to EUR 179.4 million, and pro forma EBIT amounted to EUR 9.7 million, or 5.4 percent of sales, the Munich-based company announced on Monday. “The ability to deliver and procurement costs are gradually improving. However, shorter delivery times and better availability also lead to a change in ordering behavior among our customers and the willingness to reduce risky inventories. The adjustment of inventories will probably continue to accompany us in the following quarters. Against the background of a very good order backlog, however, we continue to expect solid business development overall and are sticking to our forecast for the year as a whole,” said CEO Christoph Glingener.
For the current financial year, Adva expects sales to increase in the high single-digit to low double-digit percentage range. In addition, the Management Board assumes that pro forma EBIT will continue to increase in 2023 compared to 2022.