GomSpace (provider of nanosatellites) announces its quarterly results for the third quarter 2020 10/22/2020
GomSpace (provider of nanosatellites) announces its quarterly results for the third quarter 2020
Stockholm, October 22, 2020. GomSpace Group AB (the “Company”) announces its interim report for the third quarter of 2020. 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 2020 (2019)
· Order intake increased to T.SEK 136,472 (26,500)
· Net revenues increased to T.SEK 39,136 (15,765)
· Gross margin increased to 24% (11%)
· Operating profit (loss) improved to a negative T.SEK 7,234 (a negative 27,270)
· Earnings per share were a negative SEK 0.14 (a negative 0.74)
1 January – 30 September 2020 (2019)
· Order intake increased to T.SEK 197,262 (103,007)
· Net revenues increased to T.SEK 122,320 (97,857)
· Gross margin increased to 20% (15%)
· Operating profit (loss) improved to a negative T.SEK 30,571 (a negative 97,228)
· Earnings per share were a negative SEK 0.75 (a negative 2.12)
· GomSpace Luxembourg SARL and the European Space Agency (ESA) signed a contract to continue the development and implementation of the Juventas CubeSat in support of the Hera mission. The total contract value is approximately EUR11,000,000
· RHEA Group and GomSpace signed a Memorandum of Understanding (MOU) to further combine their expertise on Security for Space and the development and operations of large constellations of SmallSats
· In October 2020, ESA and GomSpace sign a contract for the continuation of the GOMX-5 mission at a value of EUR 1,300,000. In addition, a contract has been signed for continued constellation management development (HOOP) at a value of EUR 1,350,000.
“The revenue for this quarter increased by 148% compared to last year. It is now SEK 39 million compared to SEK 16 million last year.
Our cash flow continues to improve. This quarter we had a positive cash flow of SEK 26 million, and the cash position is now SEK 154 million.
We are approaching our target of positive cash flow on operations. EBITDA had increased substantially to SEK 1 million this quarter from SEK -19 million last year.
Our orderbook is strong and we maintain the revenue outlook at SEK 160-185 million.
With a culture of continuously improvements and our employees’ dedication and hard work, we are now prepared to compete for the large constellation programs.” 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, email@example.com, +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 October 22, 2020.
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The following files are available for download:
https://mb.cision.com/Main/14387/3219331/1322462.pdf Q3 2020 Interim Report
https://mb.cision.com/Public/14387/3219331/aa2159863a2c9a25.pdf Press release - Q3 2020 Interim Report - summary
https://news.cision.com/gomspace-a-s/i/financial-report,c2840384 Financial report