GOMspace - ABGSC’s DK small/mid cap seminar feedback
CEO confirmed a continued strong growth outlook... … and the likely launch of new EU based subsidiaries Overall a positive call, supporting the case Growth outlook intact, as company balance COVID impact Today, GomSpace participated in our virtual Danish Small/Mid cap seminar in Copenhagen, represented by group CEO Niels Buus. During his presentation, Niels reaffirmed the fact that they continue to see great traction within the “new space” segment and reaffirmed their strong outlook on the potential future growth within the industry. He furthermore confirmed that their growth outlook for FY’21 continues to stand, with GomSpace having been able to balance and navigate the impacts from the COVID-19 pandemic (e.g.
lock-downs in their key markets), this means that for the past year, they have been able to complete all the projects, as originally planned. Focus on increasing revenues from ESA With many countries having a national interest in improving their space footprint and preferably having it developed internally, setting up subsidiaries abroad is a key growth criteria for GomSpace, to secure access to national orders. Furthermore, with GomSpace still being heavily dependent on the European Space Agency (ESA), in terms of revenue and technology generation, it is very positive to hear the CEO confirm that they are actively looking at setting up new subsidiaries in the EU.
This will mean that GomSpace will be able to increasingly access national orders and the carousal payments made by the ESA, as the ESA places orders in EU countries, based on that country’s payment to the ESA. Maturing of the nanosatellite business is on track Overall, it was a positive presentation supporting the case. With the CEO confirming that the company has moves past the operational hick-up in 2019 and are now progressing and gaining traction in maturing the nanosatellite business (also supported by other key industry players).
This means that GomSpace is now well on track, t....