AAC Clyde Space - Edison Group

Overview
Price performance
Financials
Research
Sector insights
Thematics

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

11.11.24

AAC Clyde Space — Back on track

Industrials |
Update

21.08.24

AAC Clyde Space — Volatility affecting progress

Industrials |
Flash note

04.07.24

AAC Clyde Space — Acquisition of Spacemetric

Industrials |
Update

17.05.24

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

Sector

Industrials

Equity Analyst

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	28.6
2023A	276.6	1.0	(19.3)	(416.0)	N/A	20.3
2024E	375.0	24.9	(8.1)	(135.0)	N/A	12.3
2025E	600.0	75.0	44.5	759.0	6.2	4.0

Research

Update

Industrials

25.04.23

AAC Clyde Space — Strong progress delivered in Q123

Update

Industrials

06.03.23

AAC Clyde Space — SDaaS sales set to grow

Industrials

Update

AAC Clyde Space — Capital raise to support growth

Update

Industrials

29.11.22

AAC Clyde Space — Gathering momentum into 2023

Flash note

12.10.22

AAC Clyde Space — IOD-3 Amber waiting for the green light

Update

Industrials

31.08.22

AAC Clyde Space — Expecting a busy second half

Outlook

Industrials

05.07.22

AAC Clyde Space — Delivering a global perspective

Update

Industrials

24.02.22

AAC Clyde Space — Strong progress despite supplier delays

Update

Industrials

24.01.22

AAC Clyde Space — Preparing to AACcelerate growth

Update

Industrials

28.09.21

AAC Clyde Space — Rapid expansion in New SpAACe

Flash note

Industrials

01.07.21

AAC Clyde Space — SDaaS starting to lift off

Update

Industrials

01.06.21

AAC Clyde Space — Progress as consolidation phase commences

research

17.05.21

— Update 17 May 2021

Update

Industrials

07.04.21

AAC Clyde Space — Building the platforms for growth

Update

Industrials

15.01.21

AAC Clyde Space — A major strategic step into the US

Update

Industrials

08.12.20

AAC Clyde Space — Hyperion augments organic progress

Update

Industrials

16.10.20

AAC Clyde Space — Extending its world view

Update

Industrials

02.09.20

AAC Clyde Space — Improving despite COVID constraints

edison tv

Industrials

26.08.20

AAC Clyde Space/Saab/ORBCOMM – executive interview

Update

Industrials

18.05.20

AAC Clyde Space — Starting to climb

Update

Industrials

06.04.20

AAC Clyde Space — GEMS shines amidst the murk

Update

Industrials

25.02.20

AAC Clyde Space — Strong growth anticipated in New Space

Update

Industrials

30.01.20

AAC Clyde Space — Preferred supplier status for constellation

Update

Industrials

16.10.19

ÅAC Microtec — Eutelsat order enhances growth prospects

Update

Industrials

02.08.19

AAC Microtec — Rights success fuels growth

Update

Industrials

09.05.19

AAC Microtec — Low volumes induce quarterly volatility

Flash note

Industrials

18.04.19

AAC Microtec — Fuelling up for growth

Flash note

Industrials

26.03.19

ÅAC Microtec — New CEO to pilot growth strategy

Initiation

Industrials

12.03.19

ÅAC Microtec — Space to manoeuvre

QuickView

Industrials

23.08.18

ÅAC Microtec — On the launchpad

edison tv

Industrials

21.05.18

Executive interview- AAC Microtec

Further insights

insight

Industrials

12.12.18

UK space manufacturing

insight

06.07.18

Satellite broadband

thematic

Industrials

27.02.23

UK housebuilders

Concept of energy storage unit consisting of multiple conected containers with batteries. 3d rednering.

thematic

Industrials

01.02.23

Battery energy storage

thematic

Consumer

05.10.22

IPO apocalypse

thematic

TMT

10.08.22

ESG, moving beyond the box tick

thematic

Industrials

22.06.22

A new paradigm for space

thematic

Industrials

30.05.22

Geopolitical conflict to drive renewables surge

thematic

Industrials

25.05.22

The emergence of mega-constellations

thematic

Industrials

23.05.22

Internet in the sky

thematic

Industrials

10.05.22

Truth creates light

thematic

Industrials

09.05.22

All-seeing eye in the sky

thematic

Industrials

01.04.22

Five things every investor should know about everyday decarbonisation and Itaconix

thematic

Industrials

01.04.22

Feeding the world

thematic

Consumer

24.03.22

Circular economy business models

thematic

Industrials

02.02.22

BayWa – Focus on sustainability

thematic

Industrials

13.12.21

Have yourself a sustainable little Christmas

thematic

Industrials

25.11.21

COP26: What does it mean for business?

thematic

Industrials

01.11.21

Investment themes: IPO boom in London

thematic

Industrials

29.10.21

COP26: No matter the outcome, the private sector is the engine of change

thematic

Industrials

28.10.21

COP26: Time to realign your supply chain with net-zero goals?

thematic

Industrials

18.05.21

The circular economy

thematic

Industrials

20.04.21

EV outlook #1 – Growth, policy and net zero

thematic

Industrials

12.12.19

Battery charge: The rise of lithium-ion – options and implications

thematic

Industrials

17.10.19

Water – The real liquidity crisis

thematic

Industrials

16.10.19

Greece – Changing the narrative

thematic

Consumer

14.08.19

Illuminator: August Update

thematic

Industrials

24.11.14

Renewables rising – Sector primer

thematic

Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

Industrials

27.09.13

German Mittelstand Conference

thematic

Industrials

11.06.13

German industrials spotlight: Sand in the gears

thematic

Industrials

15.05.13

German industrials spotlight: Industrial machinery

thematic

Industrials

10.04.13

German industrials: Global ambitions

thematic

Industrials

20.09.11

DSEi: Feedback and thoughts