Slide 1: Interim report Q3 2024
Interim report Q3 2024 Per Norén CEO, Ovzon Viktor Bremer Interim CFO, Ovzon
Slide 2: Connecting the world's critical missions
Ovzon at glance FACTS VISION FINANCIALS Connecting REVENUE PER QUARTER, MSEK • Ovzon delivers world-class 95 mobile satellite communication 100 91 the world’s 90 solutions for critical missions 80 73 65 67 70 • First proprietary satellite critical missions 60 50 Ovzon 3 in commercial service 40 in 2
Slide 3: The accelerating urgency and demand for satellite communications
The accelerating urgency and demand for satellite communications GEOPOLITICAL TENSION CYBER SECURITY DIGITALISATION CLIMATE CHANGE 6G Ovzon / Interim report Q3 2024 2024-11-15 3
Slide 4: Ovzon value proposition
Ovzon value proposition Ovzon provides unique SATCOM solutions with market leading performance, mobility and resiliency. We enable critical missions for defense, national security and public safety customers. SPACE SEGMENT SECURE GATEWAYS MOBILE SATELLITE TERMINALS - CONNECTION TO THE TERRESTRIAL NE
Slide 5: Our unique SATCOM solutions
Our unique SATCOM solutions PERFORMANCE RESILIENCY FROM 2024 TX BANDWITH (TRANSMIT) • Ovzon 3 +100 MBPS Offering • Ovzon On-Board-Processor with • Ovzon T6 and Ovzon T7 On-The- Ovzon 3 Paulse mobile satellite terminals portfolio FSS/Ka/Ku Solutions • Expanded Ovzon On-The-Move Current offering mobil
Slide 6: Q3 Accomplishments
Q3 Accomplishments Commercialization of Ovzon 3 and strengthened order book During the quarter: • Ovzon 3 entered into commercial service • First order on Ovzon 3 from U.S. DOD at 6.2 MUSD • Initial order on Ovzon 3 from Swedish Space Corporation (SSC) • U.S. DOD orders additional Ovzon T7 terminals
Slide 7: Ovzon 3 in commercial service
Ovzon 3 in commercial service • Arrived at its dedicated position in beginning of June Positioned at 59.7E and covering 1/3 of the earth via its six high-power steerable spot beams • Successful in-orbit testing and ground systems implementation. Performance and capability exceeds requirements • Comm
Slide 8: First order on Ovzon 3 from U.S. DOD
First order on Ovzon 3 from U.S. DOD • First order for Ovzon Pegasus service on Ovzon 3 • Order value of 6.2 MUSD for 12-month delivery • Replaces the previous eight-month contract signed in December 2023 • Transition from current Ovzon SATCOM-as-a- Service using leased satellite capacity to now ope
Slide 9: Renewals and expansion with Swedish Space Corporation
Renewals and expansion with Swedish Space Corporation Orders from Swedish Space Corporation • Dec 2023: Order of 135 MSEK for Ovzon SATCOM-as-a-Service, including moble sattelite terminals • Sep 2024: Renewal of 115 MSEK for 12-month delivery of Ovzon SATCOM-as-a-Service, excluding terminals • Nov 2
Slide 10: Positive order intake trend on rolling 12-months
Positive order intake trend on rolling 12-months ORDER INTAKE (MUSD) ORDER BOOK (MUSD) 20,0 60 17,6 17,8 22,0 18,0 47 50 16,0 19,1 14,0 35 40 12,0 11,1 14,2 30 13,2 10,0 27 30 24 8,0 20 6,0 4,0 10 5,1 2,0 0,4 0,9 0,0 0 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 QTD R12 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 • Order intak
Slide 11: Strong revenue in Q3
Strong revenue in Q3 REVENUE (MSEK) RUN RATE REVENUE (MSEK) OVZON SATCOM-as-a-Service 101 322 99 330 307 100 95 91 280 252 259 78 78 247 73 73 233 223 230 75 69 67 230 216 217 65 57 182 47 180 50 145 130 25 80 30 0 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 -20 Q3
Slide 12: Positive EBITDA
Positive EBITDA EBITDA AND EBITDA MARGIN (MSEK) EBIT AND EBIT MARGIN (MSEK) Q3 21Q4 21Q1 22Q2 22Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23Q1 24Q2 24Q3 24 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20 20% 21 21 22 22 22 22 23 23 23 23 24 24 24 12 0 10 10% 0% -10 0 -10% -20% -20 -3 -30% -10 -5 -6 -23 -13 -12 -40% -30
Slide 13: Cash flow
Cash flow CASH FLOW FROM OPERATIONS (MSEK) CASH FLOW FROM INVESTMENTS (MSEK) NET DEBT (MSEK) 20 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 700 636 20 10 22 22 22 22 23 23 23 23 24 24 24 561 8 - - 600 520 1 - 20 -30 500 0 -27 - 100 433 410 -3 - 40 379 -5 -7 -80 - 200 400 -20 -15 -12 -14 - 60 - 300 300 -130 202
Slide 14: Remaining investments in Ovzon 3
Remaining investments in Ovzon 3 MSEK Comments 70 Estimated investments* 2024-2025: 62 MSEK 60 50 Contractual investments* 2025-2033: 60 MSEK 50 See note 10 in quarterly report 40 30 20 12 11 11 11 11 11 10 5 0 0 0 *Amounts are subject to variations in currency rates 2024 2025 2026 2027 2028 2029 20
Slide 15: Improved momentum in revenue and EBITDA growth
Improved momentum in revenue and EBITDA growth ORDER INTAKE (MSEK) REVENUE (MSEK) 186 100 91 95 330 200 600 173 500 80 73 320 150 65 67 118 400 310 60 100 300 300 40 200 290 50 20 100 280 4 9 - - 0 270 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 QTD R12 QTD R12 EBITDA (MSEK) OPERATIN
Slide 16: Going forward 2024–2025
Going forward 2024–2025 • Grow and expand by leveraging Ovzon 3 • Optimize satellite capacity utilization – own and leased • Drive a step-change in profitable growth • Focus: Defense, National Security and Public Safety • Industrialize: Step by step scale-up of the company • Concentrate: On sales, c
Slide 17: Thank you!
Thank you! Ovzon / Interim report Q3 2024 17