Slide 1: Interim report Q2 2024
Interim report Q2 2024 Per Norén CEO, Ovzon Viktor Bremer Interim CFO, Ovzon
Slide 2: Ovzon at a glance: Connecting the world's critical missions
Ovzon at glance FACTS VISION FINANCIALS Connecting REVENUE PER QUARTER, MSEK • Founded in Sweden 2006 100 91 • Listed on Nasdaq Stockholm, the world’s 90 80 73 Sweden 70 69 65 67 critical missions 60 • Main operations in Sweden, 50 40 USA and Europe • Ovzon offers world-class via satellite 30 20 10
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 Q2 2024 2024-08-16 3
Slide 4: Ovzon SATCOM-as-a-Service
Ovzon SATCOM-as-a-Service SATELLITE NETWORKS MOBILE SATELLITE SECURE GATEWAY STATION TERMINALS AND CONNECTION TO TERRESTRIAL NETWORK GLOBAL SERVICE AND SUPPORT Ovzon / Interim report Q2 2024 4
Slide 5: Our unique SATCOM-as-a-Service solution
Our unique SATCOM-as-a-Service solution 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 LEO Soluti
Slide 6: Q2 events – A new era with Ovzon 3
Q2 events – A new era with Ovzon 3 During the quarter: • Launch of Ovzon 3 based services Ovzon Pegasus and Ovzon Orion • Launch of On-The-Move terminals Ovzon P20 & Ovzon P30 • Renewal SATCOM-as-a-Service to a Spanish Civil Defense customer • Renewal SATCOM-as-a-Service to UK MoD • Final in-orbit t
Slide 7: Expanded Ovzon Services Portfolio – powered by Ovzon 3
Expanded Ovzon Services Portfolio – powered by Ovzon 3 NEW CUSTOMER CENTRIC SERVICES Ovzon Pegasus Ovzon 3 steerable beam service, developed specifically for the critical tasks of the most demanding customers Ovzon Orion Enabled by Ovzon 3 On-Board-Processor, allows for the most advanced features sp
Slide 8: Expanded Ovzon Product Portfolio powered by Ovzon 3
Expanded mobile satellite terminal portflio Expanded Ovzon Product Portfolio powered by Ovzon 3 OVZON ON-THE-PAUSE OVZON ON-THE-MOVE MOBILE SATELLITE TERMINALS MOBILE SATELLITE TERMINALS Ovzon P20 Ovzon T6 Ovzon P20 Ovzon T7 Ovzon / Interim report Q2 2024 2024-08-16 8
Slide 9: First use-case on Ovzon 3
First use-case on Ovzon 3 • Collaboration with French government through GIGN • Ensuring connectivity and security during the Summer Games in Paris 2024 • First advanced use-case with Ovzon 3 based SATCOM-as-a-Service • Including mobile satellite terminals, teleport service and 24/7 dedicated servic
Slide 10: 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 five high-power steerable spot beams. • Successful in-orbit testing and ground systems implementation. Performance and capacity exceeds requirements. • Co
Slide 11: First orders on Ovzon 3
First orders on Ovzon 3 U.S. Department of Defense • First Ovzon Pegasus service order on Ovzon 3, through Viasat Government Services. • 12-month contract at a value of 6.2 MUSD. Expansion vs December 2023 contract. • Represents first transition from using leased satellite capacity to utilizing Ovzo
Slide 12: Positive order intake trend R12
Positive order intake trend R12 ORDER INTAKE (MUSD) ORDER BOOK (MUSD) 40 17,6 35 35 30 19,1 28 27 30 24 11,1 25 14,2 13,2 20 11,4 15 5,5 10 5,1 0,9 5 0,4 0 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 QTD R12 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 • Order intake in the quarter totaled 0.9 (5.5) MUSD, corresponding to 9 (60
Slide 13: Revenue in line with previous quarter
Revenue in line with previous quarter REVENUE (MSEK) RUN RATE REVENUE (MSEK) OVZON SATCOM-as-a-Service 99 101 322 330 307 100 91 280 252 78 78 247 73 73 233 230 75 69 67 216 217 223 65 230 57 182 47 180 50 145 133 33 130 25 80 30 0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1
Slide 14: Gradually improving EBITDA
Gradually improving EBITDA EBITDA AND EBITDA MARGIN (MSEK) EBIT AND EBIT MARGIN (MSEK) Q2 21Q3 21Q4 21Q1 22Q2 22Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23Q1 24Q2 24 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 0 20% 21 21 21 22 22 22 22 23 23 23 23 24 24 0 -3 10% -5 -6 0% -10 -10 -9 -10% -12 -14 -13 -20% -12 -20 -18
Slide 15: Improved cash flow
Improved cash flow CASH FLOW FROM OPERATIONS (MSEK) CASH FLOW FROM INVESTMENTS (MSEK) NET DEBT (MSEK) 20 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 600 561 17 21 22 22 22 22 23 23 23 23 24 24 520 20 10 8 - - 500 1 433 410 - 20 -30 379 0 -29 -24 - 100 400 -3 - 40 -51 -42 -49 - 200 -5 -7 -80 -62 -20 -12 300 -15
Slide 16: Second quarter financial development
Second quarter financial development ORDER INTAKE (MSEK) REVENUE (MSEK) 200 186 400 100 91 310 350 73 305 80 69 150 300 65 67 118 300 250 60 100 200 295 40 60 150 290 50 100 20 285 4 9 50 - - 0 280 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 QTD R12 QTD R12 EBITDA (MSEK) OPERATING CA
Slide 17: Going forward 2024–2025
Going forward 2024–2025 • Grow and expand by leveraging Ovzon 3 • Optimize 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, capturing l
Slide 18: Thank you!
Thank you! Ovzon / Interim report Q2 2024 18