AAC Clyde Space Quarterly and Full Year Results

2022-02-17 AAC Clyde Space AB (publ)

Fourth quarter, October-December 2021 (compared with October-December 2020)

  • Net sales increased 116% to SEK 62.1 M (28.7)
  • · Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to SEK -1.0 M (-10.9) and to 0.0 M (-1.6) excluding non-recurring personnel costs of -1.0 M (-1.7) and acquisition costs of 0 M (-7.6)
  • Earnings before interest and tax (EBIT) amounted to SEK -8.0 M (-13.2)
  • The loss after tax was SEK -8.3 M (-13.4)
  • Basic and diluted earnings per share amounted to SEK -0.04 (-0.14)
  • Cash flow from operating activities totalled SEK -1.7 (-11.7)
  • The order backlog increased 161% to SEK 407.2 M (156.3)
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AAC Clyde Space Wins 4.5 MSEK Follow-on Order For In-orbit Production Spacecraft

GLASGOW, Scotland (AAC Clyde Space PR) — AAC Clyde Space, a leading New Space company, has received a 441,000 euro (approx. 4.5 MSEK) order from UK-based Space Forge to provide space products for a demonstration spacecraft designed to leverage the space environment for production and experiments, capable of performing multiple trips to space.

The order follows an order in December 2020 to contribute to the design of a satellite platform for the same purpose. The reusable spacecraft is intended to deorbit in a controlled manoeuvre to deliver its products and results back to Earth after six months in-orbit, thereby enabling efficient production and revolutionary experiments by leveraging the micro gravity in-orbit. The design will benefit from AAC Clyde Space’s standard satellite platform heritage, adjusted for re-entry into the atmosphere and landing on Earth. Back on Earth the satellites will be recovered, refurbished, and eventually re-launched.

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AAC Clyde Space Wins Order for U.S. DoD Satellite Mission Led by Aegis Aerospace

UPPSALA, Sweden (AAC Clyde Space PR) — AAC Clyde Space AB, a leading new space company, has won an order from U.S. Aegis Aerospace to supply its Starbuck power systems and battery solutions worth 500,000 USD (approx. 4.5 MSEK) for a satellite mission carried out on behalf of the U.S. Department of Defense (DoD).

The mission, the STPSat-7 led by Aegis Aerospace, is a 150 kg satellite that will host research and technology demonstration payloads for the Department of Defense Space Test Program. It will operate in Low Earth Orbit (LEO).

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AAC Clyde Space Advances xSPANCION Project

UPPSALA, Sweden, November 9, 2011 (AAC Clyde Space PR) — AAC Clyde Space and its partners, have successfully completed the first phase of the xSPANCION project with a successful Preliminary Design Review, conducted jointly with the European Space Agency (ESA). Together with the partners, the company has agreed to accelerate the project by kicking off the Spacecraft Manufacturing Preparation Phase. To achieve this, a Phase 2 has been introduced to the project valued at 5.6 MEUR (approx. 57.3 MSEK), of which the UK Space Agency, through the ESA’s Pioneer Partnership Projects, will contribute 2.8 MEUR (approx. 28.7 MSEK).

The 3-year project, previously announced 18th November 2020 by AAC Clyde Space aims to develop an innovative satellite constellation service. The total 19.7 M€ (approx. 201.7 MSEK) project is co-funded by the UK Space Agency, through ESA’s Pioneer Partnership Projects, with 9.9 M€ (approx. 100.9 MSEK).

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AAC Clyde Space Expands to South Africa

UPPSALA, Sweden (AAC Clyde Space PR) — AAC Clyde Space, a leading New space company, today announced it has founded AAC Space Africa to capitalize on the rapidly growing market for satellites and space services in Africa. AAC Space Africa will design, build, and deliver space missions to the continent from its Cape Town base in South Africa’s Western Cape Province. The new subsidiary will also be the group’s centre of competence for advanced radio communication.

The new company will be managed by Dr Robert Van Zyl as Managing Director and Francois Visser as Technical Director. They bring more than 40 years of small satellite experience to the company, having pioneered the African CubeSat industry through several missions, including the first CubeSat launched by the continent.  Their expertise spans all facets of New space technologies, with a special focus on communications. 

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10 New Satellites to be Built in Glasgow as Part of New Innovative Constellation Service

10 new government-backed satellites the size of a shoebox are going to be built in Scotland after a signing between AAC Clyde Space UK and ESA

SWINDON, UK (UK Space Agency PR) — AAC Clyde manufacture a range of small satellites, ranging from 1kg to 50kg in weight, and offer space-as-a-service, which is an end-to-end mission service covering everything from mission design, launch and satellite operations to data delivery for companies including; Orbcomm, NSLComm, Eutelsat, Orbital Micro Systems, NASA and ESA.

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AAC Clyde Space to Develop Innovative Constellation Services with ESA, UK Space Agency

UPPSALA, Sweden (AAC Clyde Space PR) — AAC Clyde Space embarks on a 3-year project, named xSPANCION, with the European Space Agency (ESA) to develop an innovative satellite constellation service, including the manufacturing of 10 spacecrafts. The UK Space Agency through ESA, will co-fund the project with 9.9 MEUR (approx. 101.4 MSEK). AAC Clyde Space intends to, outside this project, enter into customer service agreements for data delivery from the constellation.

During the first phase of the project running until mid-2021, AAC Clyde Space will deliver a preliminary design for its next generation space as a service offering. The value of this first phase is 1.8 MEUR (approx. 18.4 MSEK) of which 0.9 MEUR (approx. 9.2 MSEK) will be co-funded by UK Space Agency through ESA, providing sufficient resources to achieve comfortably this part of the project. The co-funding from UK Space Agency will be recognized as revenue with no net margin since AAC Clyde Space and partners will co-fund the remaining 0.9 MEUR (approx. 9.2 MEUR).

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AAC Clyde Space to Acquire Hyperion Technologies for 22.8 MSEK

UPPSALA, Sweden (AAC Clyde Space PR) — AAC Clyde Space (“AAC”) has reached an agreement to acquire 100 % of the shares in Hyperion Technologies BV, in a shares and cash deal. The current owners of Hyperion Technologies will receive 7,755,000 new shares in AAC, equivalent to approximately 21.7 MSEK [$2.47 million] calculated at 2.80 SEK per share and 0.1 MEUR (approx. 1.1 MSEK) [$130,000] in cash, subject to approval by the AAC EGM.

Commenting on the announcement AAC CEO Luis Gomes stated, “It is great to see the Hyperion team join the AAC Clyde Space family bringing together two great Newspace companies. With this acquisition we will further extend our product offering and will access some key technologies, adding substantial capability to our missions. I look forward to work with our new colleagues in Delft as we continue to change the economics of accessing services from space”.

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AAC Clyde Space Wins Two Japanese Orders

UPPSALA, Sweden, 31 August 2020 (AAC Clyde Space) — AAC Clyde Space has received two new orders, totaling 360 000 EUR (approx. 3.7 MSEK) for Sirius avionics from customers in Japan.

The hardware will be delivered during the fourth quarter of 2020 and software updates will be delivered in the first quarter of 2021. These are follow-on orders from existing customers.

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AAC Clyde Space, Saab & ORBCOMM TO Offer Next-Gen Maritime Communications

UPPSALA, Sweden (AAC Clyde Space PR) — AAC Clyde Space AB, Saab AB and ORBCOMM Inc. have today announced the development of the next generation of space based VDES system, marking the beginning of a new era in maritime communications.

AAC Clyde Space AB will receive 17.0 MSEK in total, of which 12.2 MSEK is in the form of a grant from the Swedish Transport Administration, to finance the building, launch and commissioning of the first satellite in the project. This is intended to be the first satellite of a future constellation to provide a VDES service.

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AAC Clyde Space Wins Contract to Develop Orbital Manoeuvring Vehicle Solar Panels

GLASGOW (AAC Clyde Space PR) — AAC Clyde Space has been selected to develop a new solar panel for Moog’s new Small Launch Orbital Manoeuvring Vehicle (SL-OMV), a space tug designed to deploy Cubesat constellations and guide small satellites to their final orbit. The order value is 340,000 GBP (approx. 4.0 MSEK) with planned delivery during the first quarter of 2021.

Moog will supply the Small Launch Orbital Manoeuvring Vehicle (SL-OMV) to Lockheed Martin as part of the UK Spaceflight Programme, supported by the UK Space Agency. The lightweight vehicle is a propulsive tug to be used on rockets dedicated to the launch of small satellites.

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