GomSpace Reports Strong Q4 2021 with Increased Orders and Revenue
Nanosatellite provider GomSpace Group AB announced its fourth-quarter 2021 results, showing a significant rise in order intake and improved financial performance. The company also saw revenue growth and a higher gross margin.
Aalborg, Denmark – GomSpace Group AB has reported its financial results for the fourth quarter of 2021, detailing a substantial increase in order intake and improved profitability.
During the fourth quarter ending December 31, 2021, the company's order intake rose to 286.7 million SEK (approximately 30.5 million EUR), a significant jump from 73.4 million SEK in the prior year period. Net revenues increased to 81.1 million SEK (approximately 8.6 million EUR) from 72.3 million SEK. The gross margin improved to 38% from 33%, and operating profit (EBIT) returned to a positive 3.5 million SEK (approximately 0.37 million EUR), an improvement from the previous year's 0.3 million SEK.
For the full year 2021, net revenues reached 213.6 million SEK (approximately 22.7 million EUR), nearly meeting the company's raised outlook. While the full-year operating profit remained negative at -30.0 million SEK, it was stable compared to the previous year.
GomSpace Group, which focuses on professional nanosatellite systems and services, forecasts revenue growth of approximately 30% for 2022, aiming for 264-292 million SEK. The company expects its EBIT margin to improve to better than -15% by the end of 2022.
Key events in the quarter included securing a contract with the European Space Agency (ESA) for the CubeMAP climate observation mission, valued at 24 million EUR, and other agreements with organizations like Politecnico di Milano and Unseen Labs.