Otovo ASA (OSL:OTOVO)
kr 1.008 -0.048 (-4.55%) Market Cap: 295.24 Mil Enterprise Value: 277.19 Mil PE Ratio: 0 PB Ratio: 0.40 GF Score: 54/100
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Q2 2023 Otovo ASA Earnings Call Transcript

Jul 13, 2023 / 07:00AM GMT
Release Date Price: kr11.33 (+1.06%)
Petter Ulset
Otovo ASA - CFO

Good morning and welcome to Otovo's second-quarter results. My name is Petter Ulset, and I am CFO of Otovo. Today's presenters will be Andreas Thorsheim, Founder and CEO, and myself. I will take you through the financial results. And with that, I leave the word to you, Andreas.

Andreas Thorsheim
Otovo ASA - Founder & CEO

Thank you, Petter. Today, we have a lot of interesting figures and news for you. Let's start with the installation numbers, that, once again, are coming in at record highs. We're reaching at 13,000 units per year run rate as we installed 3,214 projects in the quarter. That's handsomely up from the 2,800 and some we did in Q1 and a growth of 84% compared to where we were a year ago.

So with that, I think we can be clear that all supply issues relating to both hardware and labor are out and we can focus on creating value for customers and for ourselves, and that's materializing in our revenue numbers. Revenues generated are up 165% year over year. And for the first time, we're surpassing NOK500 million

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