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

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.

About Us

GomSpace is a globally leading manufacturer and supplier of cubesat & small satellite solutions for customers in the academic, government and commercial markets. Our positions of strength include systems integration, cubesat platforms, advanced miniaturized radio technology and satellite operations. Our international team is devoted to understanding our customer’s requirements and to delivering flawlessly. We are more than 130 employees, from many different nationalities, and we serve our customers in more than 60 countries. We were founded in 2007 and are today a listed company at the Nasdaq stock exchange in Stockholm (GOMX). We have our main headquarters in Aalborg in Denmark, our propulsion technology center in Uppsala in Sweden and our satellite & constellations operations center in Luxembourg. Our American customers are served through our project and business development office in 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 13 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, Cubesat Platforms, Project Management as well as Innovation. We provide the solutions that enables our customers to succeed in their business - whether this is a product, a subsystem, support or a full customized solution. We deliver these projects based on our strong in-house portfolios of established products and rich capabilities.