AAC Clyde Space - Improving despite COVID constraints
The performance in H120 was encouraging, especially given the global disruption caused by the pandemic in Q220. However, external challenges that arose, such as delays or deferral of orders by customers and disruption to the supply chain for key components and subsystems, are expected to weigh on H220 and could persist into FY21. We are reducing our net sales estimates for FY20 and FY21 by 12% and 24%, respectively, which still represents strong growth in both years, although deferring the estimate of positive EBITDA beyond FY21.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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