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AAC Clyde Space (OMX: AAC)

Last close As at 21/11/2024

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

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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

Update

Industrials

AAC Clyde Space — Gathering momentum into 2023

Flash note

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

Update

Industrials

AAC Clyde Space — Expecting a busy second half

Outlook

Industrials

AAC Clyde Space — Delivering a global perspective

Update

Industrials

AAC Clyde Space — Strong progress despite supplier delays

Update

Industrials

AAC Clyde Space — Preparing to AACcelerate growth

Update

Industrials

AAC Clyde Space — Rapid expansion in New SpAACe

Flash note

Industrials

AAC Clyde Space — SDaaS starting to lift off

Update

Industrials

AAC Clyde Space — Progress as consolidation phase commences

research

— Update 17 May 2021

Update

Industrials

AAC Clyde Space — Building the platforms for growth

Update

Industrials

AAC Clyde Space — A major strategic step into the US

Update

Industrials

AAC Clyde Space — Hyperion augments organic progress

Update

Industrials

AAC Clyde Space — Extending its world view

Update

Industrials

AAC Clyde Space — Improving despite COVID constraints

edison tv

Industrials

AAC Clyde Space/Saab/ORBCOMM – executive interview

Update

Industrials

AAC Clyde Space — Starting to climb

Update

Industrials

AAC Clyde Space — GEMS shines amidst the murk

Update

Industrials

AAC Clyde Space — Strong growth anticipated in New Space

Update

Industrials

AAC Clyde Space — Preferred supplier status for constellation

Update

Industrials

ÅAC Microtec — Eutelsat order enhances growth prospects

Update

Industrials

AAC Microtec — Rights success fuels growth

Update

Industrials

AAC Microtec — Low volumes induce quarterly volatility

Flash note

Industrials

AAC Microtec — Fuelling up for growth

Flash note

Industrials

ÅAC Microtec — New CEO to pilot growth strategy

Initiation

Industrials

ÅAC Microtec — Space to manoeuvre

QuickView

Industrials

ÅAC Microtec — On the launchpad

edison tv

Industrials

Executive interview- AAC Microtec