AAC Clyde Space

AAC Clyde Space (OMX: AAC)

Currency in SEK

Last close As at 04/02/2023

SEK1.62

▲ 0.17 (11.72%)

Market capitalisation

SEK332m

Overview
Price performance
Financials
Research
Sector insights
Thematics

Headquartered in Sweden, AAC Clyde Space 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 Clyde Space has a strong space heritage in small and nanosatellites. Over the next five years around 2,100 nanosats should be launched as technology development extends the applications for low earth orbit constellations, especially for communications. Its growing capabilities cover three revenue segments: SDaaS, Space Missions and Space Products. AAC Clyde Space aims to become a world leader in commercial small satellites and services from space.

Latest Insights

Industrials

29.11.22

AAC Clyde Space — Gathering momentum into 2023

12.10.22

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

Industrials

31.08.22

AAC Clyde Space — Expecting a busy second half

Industrials

05.07.22

AAC Clyde Space — Delivering a global perspective

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Sector

Industrials

Equity Analyst

Andy Chambers

Director, Industrials

Key Management

Luis Gomes

CEO
Mats Thideman

CFO
Rolf Hallencreutz

Chairman of the board

Balance Sheet

Forecast net cash (SEKm)

28.6

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(8.3)	10.0	(45.8)
Relative	(17.8)	(6.4)	(41.5)
52 week high/low	SEK2.8/SEK1.2

Financials

AAC Clyde Space (AAC) is at the forefront of the rapidly growing and innovative market for small satellites. AAC continues to seek opportunities in New Space to extend its reach, capabilities and technologies. As nanosatellite build rates and deployments rise sharply, management expects sales of SEK500m in FY24 and is targeting revenues of c $250m (SEK2.2bn) by 2030. Of that, space data as a service (SDaaS) revenues are expected to reach c $150m. Q322 results showed good momentum with revenues up 36% to SEK45.7m (9M SEK136.4m +16%) and the order backlog rose to SEK419m. Management expects to recognise c SEK210m of sales in FY22 as launch delays pushes some revenue milestones into FY23 when growth should accelerate.