AAC Clyde Space - Strong trading progress in H123
AAC Clyde Space made strong progress in H123, with revenues up 65% and positive EBITDA. While the mix is not as expected due to delays to some programmes deferring the start of SDaaS revenues to H223, the recent rights issue enables the company to accelerate investment in its own SDaaS satellites for launch next year. As high-margin SDaaS revenues should accelerate from H223, we expect AAC to become increasingly profitable and cash generative.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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