GomSpace (provider of nanosatellites) announces its quarterly results for the third quarter 2021

GomSpace (provider of nanosatellites) announces its quarterly results for the third quarter 2021

Stockholm, October 25, 2021. GomSpace Group AB (the “Company”) announces its interim report for the third quarter of 2021. 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 2021 (2020)

· Order intake decreased to T.SEK 43,034 (136,472)
· Net revenues increased to T.SEK 49,700 (39,136)
· Gross margin decreased to 20% (24%)
· Operating profit (loss) were a negative T.SEK 7,240 (a negative 7,234)
· Earnings per share were a negative SEK 0.14 (a negative 0.14)


1 January – 30 September 2021 (2020)

· Order intake increased to T.SEK 266,291 (197,262)
· Net revenues increased to T.SEK 132,480 (122,320)
· Gross margin decreased to 14% (20%)
· Operating profit (loss) decreased to a negative T.SEK 33,482 (a negative 30,571)
· Earnings per share were a negative SEK 0.59 (a negative 0.75)


“In the third quarter, order intake was M.SEK 43, and we maintained our robust and diversified backlog with a value of M.SEK 331. We expect to grow the backlog even further in the remaining part of 2021.

Revenue increased to M.SEK 50 compared to M.SEK 39 last year. We were focusing on ramping up our organization during the quarter, and we have managed to recruit highly skilled engineers. However, ramping up and focusing on efficiencies is a complex task.
Therefore, we prioritize getting a job done right higher than a shortsighted revenue boost. As a result, we did not meet our expectations for specific customers milestones, negatively impacting revenue and cash flow from operating activities.

Therefore, we have lowered our full-year revenue guidance to M.SEK 215 to M.SEK 235 from M.SEK 245 to M.SEK 270 due to the continued challenge in the supply of electronic components and a slower increase than expected in the on-boarding of employees required for converting backlog into revenue.” 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.

Miscellaneous
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 25, 2021.
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The following files are available for download:
https://mb.cision.com/Main/14387/3439035/1485396.pdf Q3.2021_Online
https://mb.cision.com/Public/14387/3439035/88dd1eb0c256b890.pdf Press release - Q3 2021 Interim Report - summary
https://news.cision.com/gomspace-a-s/i/financial-report,c2971376 Financial report