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

STOCKHOLM, February 1, 2022 /PRNewswire/ — GomSpace Group AB (the “Company”) announces its interim report for the fourth quarter of 2021. The report is available on the Company’s homepage (www.gomspace.com). The following is taken from the quarterly report:

Summary of the fourth quarter

October 1 – December 31, 2021 (2020)

  • Order intake increased to T.SEK 286,667 (73,441)

  • Net income increased to T.SEK 81,125 (72,256)

  • Gross margin increased to 38% (33%)

  • Operating profit (EBIT) increased to T.SEK3,473 (310)

  • Earnings per share were SEK0.10 (one minus 0.08)

January 1st – December 31, 2021 (2022)

  • Order intake increased to T.SEK 552,959 (270,703)

  • Net income increased to T.SEK 213,605 (194,576)

  • Gross margin is 23% (24%)

  • The operating result (EBIT) is negative T.SEK 30,009 (one minus 30,261)

  • Earnings per share were negative SEK0.50 (one minus 0.83)

  • The board of directors does not propose any dividend for 2021

Outlook

  • We have almost reached our outlook for the year 2021 of Mr.215 SEK-235 with an annual turnover of Mr.214 SEK

  • In 2022, we plan to generate Mr.SEK264-292 in turnover, i.e. a growth of 30%

  • In 2022, we expect an EBIT margin better than -15%. Next year’s earnings will be impacted by increased investment in standard product development, which will improve margins in future projects.

Events

  • In November 2021, we have signed a contract with Politecnico di Milano rated at Mr.SEK5.8 support the HERMES mission with products

  • In December 2021, we signed a contract with Unseen Labs valued at Mr.SEK 8 establishing the next generation satellite platform

  • In December 2021, we signed a contract with the Colombian Air Force valued at Mr.SEK6.1 for the continuation of the FACTSAT-2 satellite mission

  • In December 2021, we signed a contract with ESA valued at Mr.24 euros to implement the ESA SCOUT-1 mission for climate observation (CubeMAP)

In the fourth quarter, order intake was impressive Mr.SEK287. As we announced in the third quarter, we now have an even stronger and more diversified backlog with a value of Mr.SEK540.

Proceeds passed to Mr.SEK 81 compared to Mr.SEK 72 Last year. We have almost reached our revenue target for the full year of Mr.215 SEK-235, with an annual turnover of 214 MSEK.

In the neighborhood, we improved the cash flow of the main operating activities with Mr.SEK 40 through improved working capital and operational performance.

We concluded our second consecutive year with positive cash flow from operations. Although the year started with a headwind due to the global shortage of components, we improved our profitability and ended the fourth quarter with a positive operating result.

To improve our profitability, we continually focus on decreasing non-recurring engineering and increasing the level of R&D investment and strive to achieve GomSpace’s full operational and financial potential, with a higher degree content produced in our revenue stream.
When we have fully produced, we will increase margin and scalability.” CEO Niels Buus commented.

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 activities are primarily conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with an operational office in Aalborg, Denmark. GomSpace is a space company whose mission is to engage 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 stock exchange under the symbol GOMX. FNCA Sweden AB, info@fnca.se, +46-8-528 00 399 is the company’s certified advisor. For more information, please visit our website at www.gomspace.com.

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GomSpace Group AB (publ) is required to make this information public in accordance with the EU Market Abuse Regulation. This information has been submitted for publication, through the contact person listed above, to 08:00 CET to February 1, 2022.

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SOURCEGomSpace A/S

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