Ovzon - Preliminary Q4 2022 Financial figures

Today Ovzon AB announced a delay in the finalization and launch of the company’s first satellite Ovzon 3, as well as a plan for financing to complete and conclude the production and launch of the satellite. In connection with this, the company has decided to publish the preliminary overall financial development for the fourth quarter 2022 ahead of its full year-end report. Selected key figures are presented below with comparative figures for the corresponding period in 2021 in brackets. Ovzon will publish the full financial report for the fourth quarter and full year 2022 on February 21, 2023.  

October–December 2022 

• Net sales amounted to MSEK 101 (73) 

• Operating profit amounted to MSEK -9 (-29) 

• Total cash flow amounted to MSEK -57 (-59) 

January–December 2022 

• Net sales amounted to MSEK 357 (191) 

• Operating profit amounted to MSEK -47 (-113) 

• Total cash flow amounted to MSEK -161 (209) 

"We can now see the results from our strategy; to drive a step-change in profitable growth in 2022. We deliver our strongest fourth quarter ever, with a sales growth of 38 percent and an improved operating profit of MSEK -9. We renewed contracts with our core customers, won contracts with new customers and expanded into new geographical markets. During the quarter we utilized all satellite capacity and inventory of mobile satellite terminals efficiently. I am very proud of what our team in close collaboration with our partners and customers has achieved to deliver these results” says Per Norén, CEO of Ovzon. 

Webcast

Ovzon’s CEO Per Norén and CFO Noora Jayasekara will answer questions at a webcast on February 6, 2023, at 10.00 am CET.

The webcast will be available via the following link:
https://onlinexperiences.com/Launch/QReg/ShowUUID=4FB13E88-D87F-4115-ADB0-02C89FAC4F45

To participate via conference call, please register via the following link and follow the instructions:
https://register.vevent.com/register/BI01396d5bcd6b42338d133b1197f150fb

This information is information that Ovzon AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at the time stated by Ovzon AB’s (publ) news distributor Cision upon publication of this press release.

For further information, please contact:
Per Norén, CEO, pno@ovzon.com, +1 206 931 7232
Noora Jayasekara, CFO, nja@ovzon.com, +46 70 318 92 97 

About Ovzon
Ovzon offers world-leading mobile satellite communications services, SATCOM-as-a-Service, to customers across the globe. The services combine high data speed with high mobility. Ovzon's SATCOM-as-a-Service meets the growing demand for global connectivity for customers with high performance and security requirements such as Defense, Emergency Services, NGOs, Media and Commercial organizations. Ovzon was founded in 2006 and has offices in Stockholm, Sweden, Herndon, VA and Tampa, FL in the USA. Ovzon is listed on Nasdaq Stockholm Mid Cap. For more information, visit www.ovzon.com.

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