AAC Clyde Space AB (AAC) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to quarterly reports with Investor Studio. Today with AAC Clyde Space. You who are watching live can as always ask questions and interact with management by asking questions in the chat. I see that we have already received questions here and as usual we will handle the questions after the presentation. If you feel that you do not have time to get an answer to your question, we will refer you to IRH Cantibel on the company. On the link we have Luis Gomez, CEO of AAC Clyde Space. Luis is still speaking English. The presentation will continue in English. Luis, nice to see you again. How are things? Nice to see you, Carlo. Things are going well. with normal challenges, but with a good outlook for the year. Yeah. So, Luis, a busy year, one we might ask. So please walk us through the highlights and what the future might hold. Surely. So. So the year 2025 was a year that did not meet our expectations. We were I was personally disappointed with the outcome of the year. But at the same time, quite encouraged by some of what we achieved and some of what we have actually prepared for the future. So our net sales were below what we expected. They were below what we had really forecast, mostly down to two programs, one which is delayed in terms of being started and the other one which has a few issues. That's our external to us, but that has actually affected our net sales quite substantially. Despite these, we were still able to deliver a positive habitat. That was one of our objectives for the year. Even if the other objective originally that was to actually have a positive operational cash flow could not be fulfilled, mostly because of that delay in the start of a very large project. And that has affected us in terms of our cash flows. But as I say, it's a ye...