GOMspace - Stronger than expected guidance upgrade
FY’21 revenue guidance upgraded to SEK 245-270m. … up from SEK 210-235m (ABGSCe 245m, cons. 239m) Strong order intake in H1’21 led to improved guidance FY’21 guidance upgrade is stronger than expected GomSpace has raised their FY’21 revenue guidance to SEK 245-270m, up from SEK 210-235m. ABGSC did expect a FY’21 revenue guidance upgrade would come, following the large order intakes seen in H1’21.
However, the new guidance range places our current FY’21 revenue estimate of SEK 245m at the lower end of the range (FactSet cons. SEK 239m). Strong H1’21 order intake, led to improved FY’21 outlook On yesterday’s ABGSC hosted Investor Day seminar, we had the pleasure of hosting Niels Buus, CEO of GomSpace.
At the seminar the CEO confirmed that H1’21 had seen a very strong order intake, almost doubling their orderbook from the beginning of the year. Despite difficulties with some technology component supplies, the strong order intake, led by the demonstration project won from Indra/Enaire, provide enough confidence for the management to upgrade their FY’21 revenue guidance. We think this speaks very positively, to the stability and assurance orders from key players, such as Indra provide to GomSpace.
Overall a very positive driver for the FY’21 guidance upgrade.