GomSpace (provider of nanosatellites) announces its quarterly results for the fourth quarter 2017


GomSpace (provider of nanosatellites) announces its quarterly results for the fourth quarter 2017

Stockholm, February 21, 2018. GomSpace Group AB (the “Company”) announces its interim report for the fourth quarter of 2017. The report is available on the Company’s homepage (www.gomspace.com). The following is taken from the quarterly report:

“At the end of the fourth quarter, we were pleased to sign an amendment to the contract with Aerial & Maritime Ltd. for additional four satellites. Thereby a constellation of 8 nano-satellites is to be launched with a future prospect of a global constellation with 80 to 100 satellites. We consider this to be a major achievement as it proves that our spin-out strategy is a great success.

The growth in revenue exceeds our plans, it was 74% during the fourth quarter and 78% in the year 2017”, CEO Niels Buus commented.

Fourth quarter summary

1 October – 31 December 2017 (2016)

·  Net revenues increased to T.SEK 29,619 (17,062)
·  Gross margin increased to 26% (21%)
·  Operating profit (loss) decreased to a negative T.SEK 23,096 (a negative 16,722)
·  Earnings per share were a negative SEK 0.46 (a positive 0.35)
·  Aerial & Maritime Ltd. secures additional USD 5.0 million investment as well as GomSpace secures an additional contract with Aerial & Maritime Ltd.

1 January – 31 December 2017 (2016)

·  Net revenues increased to T.SEK 96,405 (54,142)
·  Gross margin decreased to 28% (47%)
·  Operating profit (loss) decreased to a negative T.SEK 67,610 (a negative 14,510)
·  Earnings per share were a negative SEK 2.09 (a positive 0.62)
·  The Board of Directors has decided to propose no dividend for 2017

Subsequent events

·  Singapore takes next steps towards implementing the world’s first space-based VHF communications
·  GomSpace’s fourth Demonstration Mission was Successfully Launched – intended to Pioneer the Advanced Use of Nanosatellites
·  GomSpace signs contract for low-inclination launch on Virgin Orbit’s LauncherOne

For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: 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 is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.


|This information is information that GomSpace is obliged to make public |
|pursuant to the EU Market Abuse Regulation. The information was submitted for |
|publication, through the agency of the contact person set out above, 8:00 a.m.|
|CET on February 21, 2018. |
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
http://mb.cision.com/Public/14387/2456509/948fc7e129c76bf5.pdf Interim Report Q4 2017

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