OptiCept secures previously communicated conditional order

OptiCept has announced that its customer, La Salud, has received financial support from the European Union, which was a key condition to proceed with the previously communicated order for two OliveCept systems. This development is in line with our expectations and supports our estimates. Therefore, we are not making any adjustments to our estimates.

In April 2024, OptiCept announced an order worth around 0.3 MEUR (~3.1 MSEK), which was contingent upon La Salud securing funding, as we previously commented on here. OptiCept has now confirmed that its customer has received financial support from the European Agricultural Fund for Rural Development to invest in the technology. As a result, two OliveCept units are scheduled for installation around September/October.

The confirmed order supports our estimates

As we have mentioned before, this order is good both economically and strategically. By implementing this technology with a customer in Andalusia, a key region for global olive oil production, we believe OptiCept will gain a valuable reference customer ahead of the upcoming olive season. However, as this order was already included in our estimates, we are not making any changes to our estimates at this time. Our current estimates include approximately 33 MSEK of revenue within the FoodTech segment in 2024. While the confirmed order supports our growth estimates, OptiCept will also need to fulfill about half of the large FPS order to reach these estimates.