GomSpace (provider of nanosatellites) announces its quarterly results for the second quarter 2019

(Correction to previous version published at 8:00 today: section "Miscellaneous")

GomSpace Group AB (the “Company”) announces its interim report for the second quarter of 2019. The report is available on the Company’s homepage (www.gomspace.com). The following is taken from the quarterly report:

Second quarter summary

1 April – 30 June 2019 (2018)

• Order intake increased to T.SEK 61,719 (30,072), an increase of 105%
• Net revenues increased to T.SEK 52,224 (41,821), an increase of 25%
• Gross margin decreased to 23% (28%)
• Operating profit (loss) decreased to a negative T.SEK 42,328 (a negative 26,637)
• Earnings per share were a negative SEK 0.81 (a negative 0.82)
• Order book amounts to T.SEK 118,106 (702,819). Sky and Space Global has been removed from the order book

1 January – 30 June 2019 (2018)

• Order intake increased to T.SEK 76,507 (44,784), an increase of 71%
• Net revenues increased to T.SEK 82,101 (79,559), an increase of 3%
• Gross margin decreased to 15% (31%)
• Operating profit (loss) decreased to a negative T.SEK 69,958 (a negative 41,730)
• Earnings per share were a negative SEK 1.39 (a negative 1.30)

Subsequent events

• ESA and GomSpace Luxembourg sign contract for continued constellation management development. The contract has a value of EUR 1,425,000

“Sales is going well, the order intake in the second quarter of 2019 has almost doubled to T.SEK 76,507 from T.SEK 44,784 in the same period last year.

The net revenue in the first half of 2019 amounted to T.SEK 82,101 compared to T.SEK 79,559 in the same period of 2018. This corresponds to an increase of 3%.

We remain very optimistic about the long-term potential for the nanosatellite market. The investments into the general space market continue to be large and we still see new startup companies with new services that aim for making satellite constellations. We also see that the governmental market is showing signs of future growth. Many countries are now formulating national space strategies that include nanosatellites for science and national security. We also see clear signs that the established players in the satellite service business are becoming interested in nanosatellites.” 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 August 30, 2019.