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AAC Clyde Space (OMX: AAC)

Last close As at 20/11/2024

SEK43.85

▲ −1.60 (−3.52%)

Market capitalisation

SEK259m

Headquartered in Sweden, AAC Clyde Space (AAC) is a world leader in nanosatellite end-to-end solutions, subsystems, platforms, services and components, including supply to third parties. It has production and development operations in Sweden, Scotland, the Netherlands and the United States and a start-up in Africa.

AAC has a strong heritage in small and nano satellites. Over the next five years, c 2,100 nanosats should be launched as technology development extends the applications for low Earth orbit constellations, especially for communications. AAC’s capabilities cover SDaaS, Space Missions and Space Products.

Latest Insights

View More

Industrials | Update

AAC Clyde Space — Back on track

Industrials | Update

AAC Clyde Space — Volatility affecting progress

Industrials | Flash note

AAC Clyde Space — Acquisition of Spacemetric

Industrials | Update

AAC Clyde Space — Solid start to the year with further order growth
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Sector

Industrials

Equity Analyst

David Larkam

David Larkam

Analyst, Industrials

Key Management

  • Luis Gomes

    CEO

  • Mats Thideman

    CFO

  • Rolf Hallencreutz

    Chairman of the board

Balance Sheet

Forecast net cash (SEKm)

20

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 28.2 17.7 10.5
Relative 35.5 22.0 (3.4)
52 week high/low SEK58.0/SEK31.5

Financials

AAC Clyde Space (AAC) remains an interesting avenue into the fast-growing low Earth orbital space sector. A strong Q324 performance has seen the supplier-related issues that affected Q2 largely reversed, albeit the supply chain remains stretched. The order book is strong, which, with two satellite launches due in Q4, offers the potential to build momentum into 2025.

Y/E Dec Revenue (SEKm) EBITDA (SEKm) PBT (SEKm) EPS (öre) P/E (x) P/CF (x)
2022A 196.7 (30.0) (23.2) (558.0) N/A 26.7
2023A 276.6 1.0 (19.3) (416.0) N/A 19.0
2024E 375.0 24.9 (8.1) (135.0) N/A 11.5
2025E 600.0 75.0 44.5 759.0 5.8 3.7

Research

Update

Industrials

AAC Clyde Space — Volatility affecting progress

Flash note

Industrials

AAC Clyde Space — Acquisition of Spacemetric

Industrials

Update

AAC Clyde Space — Back on track

Update

Industrials

AAC Clyde Space — Solid start to the year with further order growth

Update

Industrials

AAC Clyde Space — Strong order backlog underpins growth prospects

Update

Industrials

AAC Clyde Space — Gathering momentum for FY24 lift-off

Update

Industrials

AAC Clyde Space — Strong trading progress in H123

Update

Industrials

AAC Clyde Space — xSPANCION commitment confirmed

Update

Industrials

AAC Clyde Space — Capital raise to support growth

Update

Industrials

AAC Clyde Space — Strong progress delivered in Q123

Update

Industrials

AAC Clyde Space — SDaaS sales set to grow
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