ANNUAL REPORT AND ACCOUNTS 2022
IT TAKES AN INDUSTRY
TO RAISE THE EARTH
2 ANNUAL REPORT AND ACCOUNTS 2022 OVERVIEW
2022 HIGHLIGHTS
NET SALES AND EBITDA | 200,000 | ||||||||||||
180,000 | |||||||||||||
160,000 | |||||||||||||
140,000 | |||||||||||||
120,000 | |||||||||||||
KSEK | 100,000 | ||||||||||||
80,000 | |||||||||||||
60,000 | |||||||||||||
40,000 | |||||||||||||
20,000 | |||||||||||||
0 | |||||||||||||
-20,000 | |||||||||||||
-40,000 | |||||||||||||
FY2019 | FY2020 | FY2021 | FY2022 | ||||||||||
Net sales | EBITDA (excluding one-off cost) | ||||||||||||
NET SALES - ROLLING 12 MONTHS | |||||||||||||
200,000 | |||||||||||||
175,000 | |||||||||||||
150,000 | |||||||||||||
125,000 | |||||||||||||
KSEK | 100,000 | ||||||||||||
75,000 | |||||||||||||
50,000 | |||||||||||||
25,000 | |||||||||||||
0 | |||||||||||||
2020-Q1 | 2020-Q2 | 2020-Q3 | 2020-Q4 | 2021-Q1 | 2021-Q2 | 2021-Q3 | 2021-Q4 | 2022-Q1 | 2022-Q2 | 2022-Q3 | 2022-Q4 | ||
ORDER BACKLOG | 450,000 | ||||||||||||
400,000 | |||||||||||||
350,000 | |||||||||||||
KSEK | 300,000 | ||||||||||||
250,000 | |||||||||||||
200,000 | |||||||||||||
150,000 | |||||||||||||
100,000 | |||||||||||||
50,000 | |||||||||||||
0 | 30 MAR | 31 JUN | 31 SEP | 31 DEC | 30 MAR | 31 JUN | 31 SEP | 31 DEC | |||||
31 DEC | |||||||||||||
2020 | 2021 | 2021 | 2021 | 2021 | 2022 | 2022 | 2022 | 2022 | |||||
Space products | Space missions | Satellite as a service |
FINANCIAL PERFORMANCE 2022 (2021 comparison)
Net sales increased 9% to
SEK 196.7M
(SEK 180.0M)
Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to
SEK -38.6M
(SEK -14.9M)
and to
SEK -30.0M
(SEK -12.3M)
excluding costs from an aborted acquisition of SEK -8.6 M (0.0) and non-recurring personnel costs and acquisition costs of 0.0 M (-2.6)
The order backlog increased 5% to
SEK 427.8M
(SEK 407.2M)
ANNUAL REPORT AND ACCOUNTS 2022 | 3 |
OVERVIEW | |
CONTENTS
OVERVIEW
04 VISION
06 AT A GLANCE
10 MARKET CONTEXT
STRATEGIC REPORT 14 CEO LETTER
- STRATEGIC PRIORITIES
- BUSINESS MODEL
OPERATING & FINACIAL REVIEW
- SPACE DATA AS A SERVICE
- SPACE MISSIONS
- SPACE PRODUCTS AND COMPONENTS
- FINANCIAL REVIEW
- OUR PEOPLE
- SUSTAINABILITY
CORPORATE GOVERNANCE 42 GOVERNANCE
- BOARD AND EXECUTIVE MANAGEMENT
- RISK
GROUP FINANCIALS
- ADMINISTRATION REPORT
- FINANCIALS
Annual General Meeting
Annual General Meeting of AAC Clyde Space AB (publ) takes place on Thursday on 25 May 2023 at 13.00 at Elite Hotel Academia, Suttungs gränd 6, in Uppsala.
The English version of the annual report is a translation from the Swedish version of the annual report. If there are any differences between the version, the Swedish version should prevail since it has been subject to audit.
4 | ANNUAL REPORT AND ACCOUNTS 2022 | ANNUAL REPORT AND ACCOUNTS 2022 | 5 |
OVERVIEW | OVERVIEW | ||
VISION
FACILITATING | SUSTAINABLE |
A MORE | LIFE ON EARTH |
WEATHER FORECASTING
DELIVERING BETTER DATA | FOR MORE ACCURATE PREDICTIONS |
MARINE EFFICIENCY
LAUNCHING FOUNDATIONS | FOR A REVOLUTION OF COMMUNICATION |
FARMING PRECISION | |
GETTING THE BIG PICTURE AND THE DETAILS | FOR SECURE FOOD SUPPLIES |
6 ANNUAL REPORT AND ACCOUNTS 2022 OVERVIEW
AT A GLANCE
>25
years' operational experience
>180
employees across UK, Sweden, Netherlands, the US and South Africa
33
satellites designed, manufactured and launched to date
47
countries receive our satellite products
WHAT WE DO
AAC Clyde Space is continuing to invest in technology to address urgent challenges on earth.
We are developing technology to serve sectors where we can make the biggest impact to help society. By doing so, we are changing the economics and applications of space data.
AAC Clyde Space is a market leader in micro satellites technologies (satellites up to 50 kg) and services that enable a growing number of commercial, government and educational organisations to access high-quality, timely data from space. This data has a vast range
of applications, from weather forecasting to precision farming to environmental monitoring, and is essential to creating more resilient processes and industries, which improves life on Earth.
We are trusted by an increasing array of prestigious clients to deliver data and cutting edge satellite technology. Over the years, our clients have included ORBCOMM, Wyvern, Eutelsat, OHB, Intuitive Machines, Orbital Micro Systems, UK Space Agency, European Space Agency, and we've delivered solutions and platforms for multiple NASA programmes.
The global small satellite market is expanding rapidly, driven by an insatiable demand for data. Technological advances and falling costs together with our pedigree means we are best placed to capitalise on unprecedented interest in using data from a space perspective. AAC Clyde Space is backed by over 25 years' operational experience and our in-house expertise spans from subsystems through to advanced sensors and data delivery. Our combined workforce brings expertise to bear across three core areas
(see our divisions).
OUR OPERATIONS
SWEDEN | SCOTLAND |
SWEDEN | USA |
NETHERLANDS | SOUTH AFRICA |
Our operations and structure
The Group's main operations are located in Sweden, the United Kingdom, the Netherlands, the USA and South Africa, with partner networks in Japan and South Korea. Shares of the Group's Swedish parent company, AAC Clyde Space AB, are traded on Nasdaq First North Premier Growth Market in Stockholm and on the OTCQX Market in the US.
ANNUAL REPORT AND ACCOUNTS 2022 | 7 |
OVERVIEW | |
WHAT WE DO
SPACE DATA AS A SERVICE | Timely, high-quality data from space |
delivered directly to clients. We take | |
care of the process - from design | |
through to build, launch, operation | |
and data delivery - so clients can | |
focus on their core business. | |
Read more on page 22 |
SPACE MISSIONS | ||
Fully assembled micro and nano | ||
satellite platforms (1-50kg) and | ||
customisable mission services, | ||
available for direct sale or as a | ||
comprehensive package including: | ||
mission design, manufacturing and | ||
integration of components, launch | ||
and ground services. Our turnkey | ||
offering empowers clients to both | ||
customise and streamline their space | ||
missions. | ||
Read more on page 24 | ||
A full range of off-the-shelf and | |
SPACE PRODUCTS & COMPONENTS | |
tailor-made subsystems and | |
sensors for cube and small satellites | |
(approximately 500kg), for use in our | |
own platforms and by third parties | |
and customers. | |
Read more on page 26 |
8 ANNUAL REPORT AND ACCOUNTS 2022 OVERVIEW
AT A GLANCE
WHERE WE MAKE A DIFFERENCE
ANNUAL REPORT AND ACCOUNTS 2022 | 9 |
OVERVIEW | |
OBSERVING EARTH'S FORESTS AND FOOD
Our work with Canadian earth observation company Wyvern is helping to improve land usage, making food sources more stable, reducing water waste, and tracking deforestation.
PREDICTING EARTH'S CRISES
Our work on the Arctic Weather Satellite will help to improve weather forecasting accuracy, providing greater warning of server weather events to people across the globe.
OPTIMISING EARTH'S FUEL USE
Our work with SAAB and ORBCOMM towards the new VDES maritime communications systems will help drive more sustainable shipping, by finding the most fuel- efficient routes across our oceans.
CLEARING EARTH'S ORBIT
Our work with Astroscale is helping to safeguard Earth's orbits, ensuring they can be used in a safe and responsible way for years to come. With satellite numbers constantly rising, this is important work to keep the planet safe.
EXPANDING EARTH'S DATA COVERAGE
Our work on the xSPANCION project will allow us to offer near-global data coverage, helping to enable communications in unserved and underserved communities, and deliver data that will help fight climate change.
MONITORING EARTH'S OCEANS
Our work on the SOCON project (Sustained Ocean Colour Observation) with Seahawk uses nanosatellites to monitor biological changes in the ocean's surface, helping to track the health of the oceans and the ecosystems within them.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
AAC Clyde Space AB published this content on 27 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 09:37:02 UTC.