Edison Investment Research - AAC Microtec AB (AAC) AAC Clyde Space - Expecting a busy second half

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Edison Investment Research

Toby Thorrington

AAC Clyde Space - Expecting a busy second half

AAC Clyde Space continued to be constrained by the supply chain issues that have persisted across the space industry in Q222. These have delayed project completions and deliveries and constrained revenue as milestones are deferred. However, with SEK145m of its robust SEK400m order backlog expected to be delivered in H222, including delivery for launch of a number of satellites, prospects remain encouraging. These should support the rapid acceleration of higher-margin Space Data as a Service (SDaaS) revenues from FY23 that are key to the growth strategy, driving sustained earnings and cash flow expansion.

31/08/2022 1 EN

Underlying

AAC Microtec AB

AAC Clyde Space AB, formerly AAC Microtec AB, is a Sweden-based company, which is primarily involved in the aerospace industry. The Company operates as a provider of space solutions and systems for commercial, governmental and educational purposes on the global market through its partner network and offices in Sweden, the United States and the United Kingdom. The Company specializes in small, purpose-built satellites, as well as sub-systems and components. The Company's customers include the European Space Agency (ESA), National Aeronautics and Space Administration (NASA), Orbcomm, Kepler Communications, NSLComm, KP Labs and Orbital Micro Systems, among others.

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SE0009268154 Nasdaq Nordic Stockholm

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Toby Thorrington

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AAC Clyde Space - Expecting a busy second half

AAC Clyde Space - Gathering momentum for FY24 lift-off

China Healthcare: A brighter outlook in 2024.

AAC Clyde Space - Strong trading progress in H123

Dentsu Group - FY24 prospects weighted to H2

Record - AUME momentum and a sharper focus

Actinogen Medical - Funding in place through key catalysts

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