GomSpace (provider of nanosatellites) announces its quarterly results for the fourth quarter 2021

Stockholm, February 1, 2022. GomSpace Group AB (the “Company”) announces its interim report for the fourth quarter of 2021. 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 2021 (2020)

• Order intake increased to T.SEK 286,667 (73,441)
• Net revenues increased to T.SEK 81,125 (72,256)
• ​​​​​​​Gross margin increased to 38% (33%)
• ​​​​​​​Operating profit (EBIT) increased to T.SEK 3,473 (310) 
• ​​​​​​​Earnings per share were SEK 0.10 (a negative 0.08)

1 January – 31 December 2021 (2022)

• Order intake increased to T.SEK 552,959 (270,703)
• Net revenues increased to T.SEK 213,605 (194,576)
• Gross margin is 23% (24%)
• Operating profit (EBIT) is negative T.SEK 30,009 (a negative 30,261)
• ​​​​​​​​​​​​​​​​​​​​​​​​​​​​Earnings per share were a negative SEK 0.50 (a negative 0.83)
• ​​​​​​​The Board proposes no dividend for 2021

Outlook

• We almost reached our full-year outlook for 2021 of M.SEK 215-235 with full-year revenue of M.SEK 214
• In 2022, we expect to generate M.SEK 264-292 in revenue i.e., a growth of 30%
• ​​​​​​​In 2022, we expect EBIT margin to be better than -15%. Earnings next year will be impacted by increased investments in product development of standard products, which will improve margins in future projects.

Events

• In November 2021, we signed a contract with Politecnico di Milano valued at M.SEK 5.8 to support the H.E.R.M.E.S. mission with products
• In December 2021, we signed a contract with Unseen Labs valued at M.SEK 8 to establish the next-generation satellite platform
• ​​​​​​​In December 2021, we signed a contract with the Colombian Air Force valued at M.SEK 6.1 for the continuation of the FACTSAT-2 satellite mission
• ​​​​​​​​​​​​​​​​​​​​​In December 2021, we signed a contract with ESA valued at M.EUR 24 to implement ESA SCOUT-1 mission for climate observation (CubeMAP)

“In the fourth quarter, the order intake was impressive M.SEK 287. As we communicated in the third quarter, we now have an even more robust and diversified order backlog with a value of M.SEK 540.

Revenue increased to M.SEK 81 compared to M.SEK 72 last year. We almost reached our full-year revenue guidance of M.SEK 215-235, with full-year revenue of MSEK 214.

In the quarter, we improved cash flow from primary operating activities with M.SEK 40 through improved working capital and operational performance.

We have concluded our second consecutive year with positive cash flow from operating activities. Even though the year started with a headwind due to the global shortage of components, we have improved our profitability and ended the fourth quarter with positive operating profit.

To improve our profitability, we continuously focus on decreasing non-recurrent engineering and increasing the R&D investment level and strive to reach GomSpace’s full operating and financial potential, with a higher degree of product content in our revenue stream.
When we have fully productized, we will increase margin and scalability.“ 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 February 1, 2022.