Aac Clyde Space Ab ( (ACCMF) ) has released its Q3 earnings. Here is a breakdown of the information Aac Clyde Space Ab presented to its investors.
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AAC Clyde Space is a company specializing in small satellite technologies and services, enabling businesses, governments, and educational organizations to access high-quality data from space. Operating in the aerospace sector, the company offers solutions across three divisions: Space Data as a Service, Space Missions, and Space Products and Components.
In its recent earnings report for the third quarter of 2024, AAC Clyde Space announced a 51.1% increase in net sales compared to the same period in the previous year, amounting to SEK 84.8 million. The company also reported a significant improvement in its EBITDA, reaching SEK 17.5 million, and a positive operational cash flow of SEK 9.3 million. Notably, the company’s earnings per share stood at SEK 1.34, marking a substantial turnaround from the previous year’s loss.
Key highlights from the quarter include a lucrative licensing deal with a US-based supplier, contributing a net effect of SEK 19.5 million, and the acquisition of Spacemetric AB, aimed at enhancing geospatial data capabilities. Additionally, AAC Clyde Space secured several orders for its Starbuck power systems and initiated a pre-commercial agreement for the Cyclops Earth observation satellite constellation with the Scottish Government.
The company continues to strengthen its order backlog, now totaling SEK 641.2 million, positioning it well for future growth. Despite facing challenges in the first half of the year, AAC Clyde Space has made significant strides in resolving supply chain issues, setting ambitious targets for revenue and EBITDA in the coming quarters.
Looking ahead, AAC Clyde Space is keenly focused on improving profitability and operational cash flow, with an emphasis on efficiency and margin growth. As the company prepares for a busy fourth quarter with planned satellite launches, it aims to capitalize on its robust order pipeline and strategic acquisitions to drive future success.