AAC Clyde Space

Overview
Price performance
Financials
Research
Sector insights
Thematics

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

Industrials |
Update

21.08.24

AAC Clyde Space — Volatility affecting progress

Industrials |
Flash note

04.07.24

AAC Clyde Space — Acquisition of Spacemetric

Industrials |
Update

17.05.24

AAC Clyde Space — Solid start to the year with further order growth

Industrials |
Update

04.03.24

AAC Clyde Space — Strong order backlog underpins growth prospects

Visit Website

Sector

Industrials

Equity Analyst

David Larkam

Analyst, Industrials

Key Management

Luis Gomes

CEO
Mats Thideman

CFO
Rolf Hallencreutz

Chairman of the board

Balance Sheet

Forecast net cash (SEKm)

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(13.5)	(21.7)	(0.4)
Relative	(17.1)	(19.7)	(16.3)
52 week high/low	SEK58.0/SEK27.5

Financials

Positive progress continues with the successful launch of the European Space Agency’s Arctic Weather Satellite using AAC’s scientific weather payload and power systems, the first customer for the Cyclops Earth observation satellite constellation and the acquisition of Spacemetric to expand SDaaS capabilities. However, Q2 was affected by external issues: a supplier issue on a key contract, the delayed start of revenue service of some in-orbit satellites and delays in contracts being signed. Management has therefore reduced sales expectations for the year to SEK350–400m, from SEK430–500m (note that the order book is at a record level of SEK660m), while retaining guidance for an EBITDA margin of 5–10% (FY23:0.4%).