GomSpace (provider of nanosatellites) announces its quarterly results for the first quarter 2022

GomSpace Group AB (the “Company”) announces its interim report for the first quarter of 2022. The report is available on the Company’s homepage (www.gomspace.com). The following is taken from the quarterly report:

First quarter summary

1 January – 31 March 2022 (2021)

• Order intake increased by 74% to T.SEK 41,497 (23,798)
• Net revenues increased by 122% toT.SEK 78,365 (35,245)
• Gross margin increased to 32% (3%)
• Operating profit (EBIT) increased to T.SEK 4,166 (negative 13,911)
• Earnings per share were SEK 0.06 (negative 0.24)

Events

• In March we have resolved a directed share issue of M.SEK 103 through the issuance of 10,454,960 new shares to a newly established family fund of the British citizen Peter Kendal Hargreaves
   
• In February D-Orbit SpA placed an order for the P60 power systems and batteries. The total value of the order is M.SEK 9. Delivery is expected in 2022
• In April, we entered into a contract to develop, deliver and support the Mission Control System that KSAT will use to operate the Arctic Weather Satellite mission funded by the European Space Agency. The contract value is MSEK 10

“In the first quarter, the order intake was M.SEK 41. Most new orders were primarily platforms, payloads, and subsystems that contribute to diversify our backlog of M.SEK 502 with a higher margin. Revenue was M.SEK 78, a significant improvement from last year's M.SEK 35. 

The start of 2022 demonstrated continued improved financial performance, and we maintain our full-year guidance. 

We will become the European nano- and microsatellites champion and have updated the strategy to archive that goal. We have affirmed GomSpace as a technology leader with several successful missions. Financially we are among the few new space companies generating positive cash flow from operations in two consecutive years. We have a solid foundation and plan to address the overall issue in our industry, that the current profitability is low”. CEO Niels Buus commented.

For more information, please contact:

Niels Buus (CEO)
Tel: +45 40 31 55 57
E-mail: nbu @ gomspace.com
 

About GomSpace Group AB
The company’s business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB, info@fnca.se, +46-8-528 00 399 is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.

Miscellaneous
GomSpace Group AB (publ) is obligated to make this information public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CET on May 2, 2022.