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

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

Third quarter summary

1 July – 30 September 2019 (2018)

  • Order intake decreased to T.SEK 26,500 (56,469), a decrease of 53%
  • Net revenues decreased to T.SEK 15,765 (33,608), a decrease of 53%
  • Gross margin decreased to 11% (34%)
  • Operating profit (loss) increased to a negative T.SEK 27,270 (a negative 30,357)
  • Earnings per share were a negative SEK 0.74 (a negative 0.82)

1 January – 30 September 2019 (2018)

  • Order intake increased to T.SEK 103,007 (101,253), an increase of 2%
  • Net revenues decreased to T.SEK 97,857 (113,167), a decrease of 14%
  • Gross margin decreased to 15% (32%)
  • Operating profit (loss) decreased to a negative T.SEK 97,228 (a negative 72,087)
  • Earnings per share were a negative SEK 2.12 (a negative 2.13)

Subsequent events

  • NSSTC-UAEU and GomSpace signed a contract with the purpose of supplying cubesat products, training and support over the next 18 months
  • ESA and GomSpace signed a contract addendum for the continued development on the Juventas CubeSat in support of the Hera mission

“The reason for the low result in the third quarter is late incoming orders during the summer months.

Approaching the end of 2019, we experience a positive momentum as order intake has caught up and we are therefore very optimistic regarding next year.

At the end of the third quarter, we had an order backlog at T.SEK 132,620 – this has already risen to T.SEK 144,150 when including the two contracts signed after the end of the quarter.

With these two additional contracts, we follow our plan of reaching a positive cash flow.” 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.

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 November 29, 2019.