GomSpace (Provider of Nanosatellites) Announces its Quarterly Results for the Fourth Quarter 2018

GomSpace (Provider of Nanosatellites) Announces its Quarterly Results for the Fourth Quarter 2018

PR Newswire

STOCKHOLM, Feb. 28, 2019

STOCKHOLM, Feb. 28, 2019 /PRNewswire/ -- GomSpace Group AB (the "Company") announces its interim report for the fourth quarter of 2018. The report is available on the Company's homepage (www.gomspace.com). The following is taken from the quarterly report:

"The net revenue in 2018 amounted to T.SEK 153,384 com­pared to T.SEK 96,405 in 2017. This corresponds to a growth rate of 59%. Without the impact of the elimination of sales to associated companies, the growth rate corresponds to 63%. The gross margin amounts to 25%; without elimination, it would have been 30%.

We did not fully reach the expected revenue and margins as the Sky and Space Global project was slowed down to a minimum due to overdue payments, which led to restructuring and reduction of staff in GomSpace. Sky and Space Global sent documentation for a bank transfer on 22 February, we expect the payments to appear on our bank account in the next couple of days." - CEO Niels Buus commented.

Fourth quarter summary

1 October – 31 December 2018 (2017)

1 January – 31 December 2018 (2017)

Subsequent events

For more information, please contact: 

Niels Buus (CEO)
Tel: +45-40-31-55-57
Email: nbu@gomspace.com  

About Gomspace Group AB

The Company's business operations are mainly conducted through the wholly-owned Danish subsidiary, GomSpace A/S, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB, info@fnca.se, +46-8-528-00-399 is the Company's Certified Adviser. For more information, please visit our website on www.gomspace.com.

Miscellaneous         

This information is information that GomSpace is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, 8:00 a.m. CET on February 28, 2019.

 

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https://mb.cision.com/Main/14387/2751584/999586.pdf

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