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.
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Luis Gomes
CEO
Mats Thideman
CFO
Rolf Hallencreutz
Chairman of the board
Forecast net cash (SEKm)
11.5
Forecast gearing ratio (%)
N/A
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (1.6) | (15.2) | 39.0 |
Relative | (0.4) | (16.7) | 18.8 |
52 week high/low | SEK58.0/SEK27.5 |
Q124 net sales were down 3.5% to SEK71.4m (management guidance for the year remains SEK430–500m), assisted by the receipt of a SEK13.5m insurance settlement relating to the Kelpie-1 satellite not achieving key performance criteria. EBITDA was SEK12.7m with a 17% margin, benefiting from SEK12.6m from the insurance settlement. The loss for the period reduced from SEK5.9m to SEK3.4m including an impairment of SEK6.5m for a satellite not performing as expected. Net cash generation was SEK12.2m and, after investment in working capital of SEK25.3m, the net cash outflow was SEK22.0m. Cash at the end of the period was SEK38.4m. The order book achieved another record level of SEK654m.
Y/E Dec | Revenue (SEKm) | EBITDA (SEKm) | PBT (SEKm) | EPS (fd) (öre) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 196.7 | (30.0) | (23.2) | (557.78) | N/A | N/A |
2023A | 276.6 | 1.0 | (18.4) | (416.48) | N/A | 39.9 |
2024E | 465.4 | 32.9 | 12.4 | 208.91 | 20.3 | 6.7 |
2025E | 647.6 | 79.6 | 52.7 | 874.60 | 4.8 | 2.6 |