GomSpace (provider of nanosatellites) announces its quarterly results for the fourth quarter 2020

Stockholm, January 28, 2021. GomSpace Group AB (the “Company”) announces its interim report for the fourth quarter of 2020. The report is available on the Company’s homepage (www.gomspace.com). The following is taken from the quarterly report:
 
Fourth quarter summary

1 October – 31 December 2020 (2019)

• Order intake decreased to T.SEK 73,441 (89,347)
• Net revenues increased to T.SEK 72,256 (38,406)
• Gross margin increased to 33% (10%)
• Operating profit (loss) improved to T.SEK 310 (a negative 16,628)
• Earnings per share were a negative SEK 0.08 (a negative 0.78)

1 January – 31 December 2020 (2019)

• Order intake increased to T.SEK 270,703 (192,354)
• Net revenues increased to T.SEK 194,576 (136,263)
• Gross margin increased to 24% (13%)
• Operating profit (loss) improved to a negative T.SEK 30,261 (a negative 113,856)
• Earnings per share were a negative SEK 0.83 (a negative 2.90)
• The Board proposes no dividend for 2020

Events

• GomSpace and Colombian Air Force signed a contract to initiate the FACSAT-2 satellite mission and associated intensive virtual technology transfer program and a contract to the second FACSAT-2 contract to support advanced science and technology activities to enhance the satellite capabilities of the Colombian Airforce. Value of both orders are T.SEK 11,556
• GomSpace wins significant product order in North America in the geo-intelligence industry to deliver software-defined radio modules and antenna systems. The contract value is T.SEK 5,697
• Jens Maaløe becomes chairman of GomSpace, and Jukka Pertola will continue as the Vice-Chair

“In the fourth quarter, we broke our own record. The revenue increased by 88% compared to last year, i.e., from SEK 38 to 72 million this year.

For the year, revenue has increased by 43%, from SEK 136 to 195 million. The cash flow from primary operating activities has increased from SEK -96 to 41 million, and the cash position has increased by SEK 9 million from SEK 127 to 136 million.

In 2018, we set the goal of achieving positive cash flow from the primary operation without raising additional capital. This goal has now been met.

In 2021, we will continue our growth and expect to reach a revenue between SEK 210 and 235 million.“ 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 January 28, 2021.