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

Stockholm, July 16, 2020. GomSpace Group AB (the “Company”) announces its interim report for the second quarter of 2020. 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 2020 (2019)

  • Order intake decreased to T.SEK 42,342 (61,719)
  • Net revenues decreased to T.SEK 42,729 (52,224)
  • Gross margin decreased to 11% (23%)
  • Operating profit (loss) improved to a negative T.SEK 14,859 (a negative 42,328)
  • Earnings per share were a negative SEK 0.47 (a negative 0.81)

1 January – 30 June 2020 (2019)

  • Order intake decreased to T.SEK 60,790 (76,507)
  • Net revenues increased to T.SEK 83,184 (82,101)
  • Gross margin increased to 18% (15%)
  • Operating profit (loss) improved to a negative T.SEK 23,337 (a negative 69,958)
  • Earnings per share were a negative SEK 0.61 (a negative 1.39)

Events

  • GomSpace A/S and Aerial & Maritime Ltd. enter settlement agreement and cancel spin-out project
  • GomSpace signed a contract to develop and deliver a nanosatellite to the Norwegian Defence Research Establishment (FFI). The contract is worth SEK 19 million

“The revenue for this quarter increased 79% compared to last year, it is now SEK 43 million compared to SEK 24 million last year, excluding derived effects of the settlement with Sky and Space Global. Despite of the Covid-19 pandemic, we have been able to keep the momentum in converting orderbook into revenue.

Our cash flow continues to improve. This quarter we had a positive cash flow of SEK 10 million and the cash position is now SEK 129 million.

We are approaching our target of a positive cash flow on operations. EBITDA has increased substantially to SEK -7 million this quarter from SEK -34 million last year.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 July 16, 2020.

About Us

GomSpace is a globally leading manufacturer and supplier of nanosatellite solutions for customers in the academic, government and commercial markets. Our positions of strength include systems integration, nanosatellite platforms and advanced miniaturised radio technology. Our international team is devoted to understanding our customer’s requirements and to delivering flawlessly. We are more 200 employees, in a global team of different nationalities, and we serve our customers in more than 50 countries. We are listed at Nasdaq in Stockholm (GOMX), have our main headquarters in Aalborg in Denmark, a propulsion technology centre, GomSpace Sweden in Sweden, operation office in Luxembourg and sales & project development offices in Singapore and Washington. We believe nanosatellites should be put to work delivering revenue and/or mission critical services for their owners, and we can deliver the - often complex - products and solutions that enable our customers in doing so. With more than 11 years of experience in the market and a track record of multiple successful missions accomplished, we have developed profound knowledge and competencies within Radio Technology, Nanosatellite Platforms, Project Management as well as Innovation. Our business model allows us to provide turn-key projects to our customers to deliver the business solution needed. We deliver these projects based on our strong in-house portfolios of established products and a wealth of capabilities.