Asetek A/S (ASKTF.PK), a Danish maker of liquid cooling solutions for computer systems, on Friday reported a net profit for the full year, reflecting an improvement in revenue, driven by higher demand for liquid cooling and expansion of SimSports.
For the 12-month period, the company registered a net profit of $6.001 million or $0.07 per share, compared with loss of $4.325 million or $0.08 per share, posted last year.
Pre-tax income was $8.498 million as against loss of $5.878 million in the previous year.
Operating earnings stood at $9.403 million, compared with loss of $5.401 million in 2022.
Sealed loop cooling unit shipments for 2023 totaled 1.17 million, compared with 0.8 million in 2022.
Revenue was $76.332 million, up from $50.650 million last year.
Revenue from liquid cooling segment moved up to $69.052 million from $44.798 million a year ago.
SimSports segment generated revenue of $7.178 million, higher than $1.824 million in 2022.
Looking ahead, for the full year, citing current improved macro-economic conditions, geopolitical issues, and higher customer inventory levels, the company expects an annual revenue growth of negative 5 percent to positive 5 percent.
The revenue outlook is derived from expected revenue development in the Liquid Cooling segment in the range of negative 10 percent to 0 percent, and for the SimSports segment revenue growth of 40 percent to 60 percent.
Excluding items, EBITDA margin is expected to be in the range of 12 percent to 17 percent of revenue.
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