Second quarter summary
1 April -
- Order intake was T.
SEK 22,671 (43,931) -
Net revenues slightly decreased by 2% to T.
SEK 50,275 (51,253) - Gross margin decreased to negative 30% (positive 6%) due to a revenue mix with less profitable engineering projects and one-off costs due to terminated unprofitable engineering contracts in the scientific segment
-
Operating profit (EBIT) decreased to negative T.
SEK 36,114 (negative 31,281) -
Earnings per share was negative
SEK 0.25 (negative 0.45)
1 January -
- Order intake decreased by 38% to T.
SEK 53,388 (85,428) -
Net revenue decreased by 1% to T.
SEK 128,425 (129,618) - Gross margin decreased to negative 39% (negative 21%)
-
Operating profit (EBIT) decreased to negative T.
SEK 50,192 (negative 27,115) -
Earnings per share were negative
SEK 0.49 (negative 0.43)
Events
- In April, we signed a Memorandum of Under-standing with SAIC, a premier Fortune 500® technology integrator partner. Our aim is to broaden our reach to government and commercial customers in the
Americas -
In May, we had several negotiations with
ESA regarding the climate observation mission. However, after careful consideration, we decided not to proceed to the next phase. We determined the project unprofitable and unsuitable for our goals -
In May, at the annual general meeting elected, two new members to strengthen the Board of Directors:
Stefan Gardefjord and Henrik Kølle, both having extensive experience in management and industry knowledge -
In July,
GomSpace and Terma signed a MoU aimed at building a joint offering for an Asian project focusing on monitoring and protection of water territories -
In August, we signed a Contract Change Notice with
ESA for E1.500.000 for the implementation of Juventas CubeSat.GomSpace is leading the Juventas CubeSat mission with the help of European subcontractors. The spacecraft is expected to be de-livered by the end of 2023 for integration and testing with the mothercraft HERA
CEO,
"In the first quarter of 2023,
As a primary driver, we have set ourselves a clear goal of becoming free cashflow positive, in the 2nd half of 2024, I am happy to report that our free cash flow has improved from negative M.
The reduction was a sad yet necessary decision under the circumstances and we have now completed the action and said goodbye to 70 people since
On a positive and personal sidenote, I am happy to report that most of the people that we had to let go, have found a new job even before the end of their termination period. This is a testament to the quality of people working at
As reported in June, we also defined ourselves three strategic anchors to guide our turnaround:1) More Product Business, 2) Focus on project profitability and best fit, 3)
Specifically, we have created a Product Business Unit, to secure a better focus on sales and continuous product road map development. There is good business for
To address the second point of focus on project profitability and best fit, we have created a team with a focus on project delivery, and equally important, onboarding of new customer contracts. In the short run, we have reviewed our current project portfolio and, as reported separately, we have agreed to terminate a large
For
Looking into the 2nd half of 2023, we stay focused on our transformation plans and work towards a free cashflow positive situation in the 2nd half of 2024".
Second quarter presentation
The interim report for second quarter 2023 will be presented at a webinar today 22 August at
For more information, please contact:
Tel: +45 40 63 40 36
E-mail: cdra @ gomspace.com
About
The company's business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in
Miscellaneous
https://news.cision.com/gomspace-a-s/r/gomspace--provider-of-nanosatellites--announces-its-quarterly-results-for-the-second-quarter-2023,c3821145
https://mb.cision.com/Main/14387/3821145/2239955.pdf
https://mb.cision.com/Public/14387/3821145/bf113b81721a966d.pdf
https://news.cision.com/gomspace-a-s/i/generel,c3207740
(c) 2023 Cision. All rights reserved., source