GomSpace – Presentation of Q3 2024 interim report

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GomSpace is expected to release its Q3 2024 interim report on October 31, 2024. The same day at 13:00, GomSpace’s CEO Carsten Drachmann will present the results in an online live event followed by a Q&A session.

In the first half of 2024, the financial results more than supported the current transformation progress the company is going through. Order intake rose 380%, gross margin improved to 31% (-5% in 2023), and the second quarter yielded a positive cash flow. Cash flow for the first half of the year showed significant improvement with a negative of SEK 5.5m vs. the first half of 2023, which yielded a negative cash flow of SEK 70m.

In the Q3 presentation, the focus will be on GomSpace’s ongoing transformation process, whether the positive developments from the first half year have continued into Q3 and potential further details about the progress on the Maritime Domain Awareness program in Indonesia. On the last day of the third quarter, they delivered an update on the historical timeline of this program but also stated that they still await the final conclusion.

In connection with that update, the company reiterated its 2024 guidance of positive free cash flow in the second half of 2024 and stated that revenue is expected to surpass the 2023 level.

Disclaimer: HC Andersen Capital receives payment from GomSpace for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis, 11.15, 1 October 2024.