— Update 17 May 2021

AAC Clyde Space (OMX: AAC)

Last close As at 20/12/2024

SEK46.65

−0.10 (−0.21%)

Market capitalisation

SEK275m

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— Update 17 May 2021

The acquisition of Omnisys Instruments was completed on 30 April 2021. The combination of existing cubesat knowledge with microwave sensing technology should allow AAC Clyde Space to extend its product and service offering in the high growth, space-based weather and climate data market. We have adjusted our estimates to reflect the purchase of the already profitable business and the contingent fundraise of SEK100m (gross). AAC Clyde Space continues to execute its growth strategy and appears to be moving to profitability and cash generation.

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Research: Real Estate

Custodian REIT — Fifth interim payment continues DPS recovery

Custodian REIT (CREI) generated a 2.5% NAV total return in Q421, taking the H221 total to 4.9% and FY21 to a positive 0.9% despite pandemic-driven weakness earlier in the year. H221 returns were supported by improving rent collection, delivering increased DPS (including a fifth interim payment), and positive net valuation gains, primarily driven by a strong (49%) industrial asset weighting and asset management initiatives.

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