Ovzon: Inks record-high order with SSC - ABG

SEK 185m order from Swedish Space Corporation on Ovzon-3
The full value will be paid in January 2025
Supportive to estimates of a ramp-up in sales in '25e


Record-high Ovzon-3 order from SSC

Yesterday evening Ovzon announced that it had received a new order from Swedish Space Corporation (SSC) for Ovzon-3. The order value of SEK 185m for the 12-month contract is a record high order value which, combined with the fact that it relates to Ovzon-3 - Ovzon's proprietary satellite which went into commercial operation this summer - means that this is a major step forward for Ovzon; both in terms of commercial success, revenues, and cash flow. On a positive note, the full amount of SEK 185m will be paid in January 2025. The order includes both SATCOM services and terminals (breakdown undisclosed), with delivery of the terminals starting immediately and the services starting in Q1'25. This means that the order will run in parallel with the recent SEK 132m order from SSC (12-month contract, announced in Sept), which relates to leased capacity.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/ovzon/equity-research/2024/12/ovzon---inks-record-high-order-with-ssc/