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

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11/27/2017


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

Stockholm, November 27, 2017. GomSpace Group AB (the “Company”) announces its interim report for the third quarter of 2017. The report is available on the Company’s homepage (www.gomspace.com). The following is taken from the quarterly report:

“We are pleased that we have continued to receive orders for standard modules for satellites in large numbers during the past three quarters. Thereby we have continued to increase the order book throughout the period and a substantial part of turnover for 2018 has now been covered. We expect that the growth in turnover will exceed our original plans in the initial public offering.

The growth in revenue exceeds our plans, it was 78% during the third quarter and 80% in the first three quarters of 2017.”

 CEO Niels Buus commented.

Third quarter summary

1 July – 30 September 2017 (2016)

· Net revenues increased to T.SEK 21,697 (12,182)
· Gross margin decreased to 25% (44%)
· Operating profit (loss) decreased to a negative T.SEK 16,065 (a negative 357)
· Earnings per share were a negative SEK 0.58 (a negative 0.04)
· GomSpace and AISTECH sign a binding Framework Delivery Agreement for the supply of 100 nanosatellite platforms

1 January - 30 September 2017 (2016)

· Net revenues increased to T.SEK 66,786 (37,080)
· Gross margin decreased to 29% (58%)
· Operating profit (loss) decreased to a negative T.SEK 44,514 (a positive 2,212)
· Earnings per share were a negative SEK 1.63 (a positive 0.04)

Subsequent events

· Aerial & Maritime Ltd. secures additional USD 5.0 million investment
· GomSpace receives order from Sky and Space Global. This is an amendment to the original procurement contract and contains further development to increase the capabilities of the satellites
· GomSpace secures new innovation project from Innovation Fund Denmark to develop network management technology which targets operations and management of large satellite constellations

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.

Miscellaneous      

+------------------------------------------------------------------------------+
|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 November 27, 2017. |
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http://news.cision.com/gomspace-a-s/r/gomspace--provider-of-nanosatellites--announces-its-quarterly-results-for-the-third-quarter-2017,c2400398
The following files are available for download:
http://mb.cision.com/Main/14387/2400398/757795.pdf
http://mb.cision.com/Public/14387/2400398/8bd589ec442187e0.pdf Interim Rapport Q3 2017
http://mb.cision.com/Public/14387/2400398/abd9a1adc727bb41.pdf Delårsrapport Q3 2017
 

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