MrktBUZZ Svenska Aerogel: Major order received – with further potential
15 Nov 2023
Svenska Aerogel (the “Company”) announced on Wednesday 11 November that the Italian distributor Krahn, on behalf of a new customer, has ordered 1 ton of Quartzene to be used in a new thermal insulation product. Krahn’s customer is active in the Building & Construction segment.
Krahn Italy is an independent chemical distributor and sales and distribution partner. Svenska Aerogel and Krahn have been working together since early 2021.
Carlsquare Equity Research views this order as an important step toward realizing the growth outlined in our most recent research update on September 5, 2023. In that update, we adjusted our Quartzene sales projections for the latter half of 2023, estimating sales of approximately 0.7 to 1.0 tons in Q4 2023. The Company now has the potential to surpass this forecast. More notably, there is indications of a possible larger order from the same customer in 2024, presenting an opportunity for accelerated revenue growth beyond our latest update.
We intend to release an updated equity research report following the Company’s Q3 report publication on November 24.
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