Telescopes

Annual Report 2024

Ready. Relevant. Resilient.

In a rapidly shifting global landscape, AAC Clyde Space strengthened its market position in 2024 with 28% revenue growth, strong cash flow from operations, and an underlying EBITDA margin of 14% — part of a fivefold revenue increase over the past five years. As demand for secure space-based data and communications accelerates, we enter 2025 well positioned to scale and lead in a more connected, resilient world.

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2024 HIGHLIGHTS

(2023 COMPARISON)

Net sales increased by 28% to

SEK 352.9M

(SEK 276.6M)

Earnings before interest, tax,
depreciation and amortisation (EBITDA)

SEK 46.7M

(SEK 1.0M)

Our order backlog

SEK 541.1M

(SEK 630.3M)

and to

SEK 49.2M

(SEK 1.0M)

Excluding acquisition cost of SEK 2.6 M (0)

The net effect from the license deal with a US based
supplier of space solutions was SEK 19.5 M (0)

NET SALES AND EBITDA

ORDER BACKLOG

STRATEGIC ACQUISITION

SPACEMETRIC
STRENGTHENS
AAC CLYDE SPACE

In 2024, AAC Clyde Space acquired Spacemetric, a world leader in geospatial image management and data analysis. This acquisition enhances our ability to transform space data into actionable insights and accelerates our transition to becoming a full-service provider of space-based intelligence.

For over two decades, Spacemetric has developed innovative systems for image and video management, with particular expertise in AI-driven analysis and real-time processing of satellite and airborne data. The company has delivered advanced solutions to the defense sector, including systems for managing reconnaissance data from UAVs and combat aircraft. Their Keystone platform has played a central role in the Swedish Armed Forces’ handling of image data from the JAS 39 Gripen and has also been used for UAV video analysis in intelligence operations.

WEATHER

ARCTIC WEATHER SATELLITE

BRIDGING SPACE
FOR SMARTER
WEATHER
FORECASTING

Today, all ships over a certain size are compelled by regulation to use AIS data systems. Companies are finding new and innovative ways to use this data to make lives at sea safer and more sustainable. The future of maritime communications, however, comes in the form of a new system, called VDES, that opens new possibilities with its two-way capabilities.

AAC Clyde Space is active in the AIS market today, with its eyes on the future through VDES. We are launching two AIS satellites this year, one of which will also carry VDES capabilities, increasing our VDES constellation to two satellites.

In the coming years, we look to becomes leaders in VDES data and technologies. One highlight contract will see us build and operate a 12-satellite constellation delivering communications data to the market.

MARITIME COMMUNICATIONS

YMIR-1

BRIDGING SPACE
FOR A SMARTER
MARITIME FUTURE

90% of everything we consume is transported by sea. The oceans are not only the arteries of global trade but also the backbone of our planet’s ecosystems, regulating climate, producing oxygen, and sustaining billions of people. However, maritime infrastructure faces growing challenges, from environmental pressures and congested traffic to security threats such as smuggling and sabotage. For AAC Clyde Space, bridging space means harnessing satellite technology to address real and pressing challenges on Earth, transforming data into actionable insights that drive smarter decisions.

In November 2023, AAC Clyde Space, in collaboration with Saab TransponderTech and ORBCOMM, launched Ymir-1, the world’s first operational VDES (VHF Data Exchange System) satellite. Ymir-1 is built in Sweden on AAC Clyde Space’s proven EPIC LINK CubeSat platform, designed specifically for VDES technology. AAC Clyde Space designed and built the entire satellite, integrating the VDES payload developed by Saab TransponderTech.

EARTH OBSERVATION

CANOPY

BRIDGING SPACE
FOR A SMARTER
FORESTRY FUTURE

Forests cover 31% of Earth’s land, but ten million hectares disappear each year due to fire, pests, and deforestation. Protecting forests is critical for biodiversity, climate, and livelihoods.

AAC Clyde Space uses satellites to tackle global challenges, delivering critical data for smarter decisions. Canopy is an Earth Observation service helping Scottish Forestry improve monitoring and detecting threats such as pests, diseases or canopy loss. Canopy analyses high-resolution multispectral imagery, enabling early intervention and providing a cost-effective alternative to helicopter surveys.

In 2024, we secured a two-year contract with the government agency Scottish Forestry, delivering a fully managed service for early threat detection. "Teaming up with Scotland’s government early on has allowed us to develop data services that meet the high requirements of public organisations," says AAC Clyde Space CEO Luis Gomes.

"Global trade tensions and rising geopolitical instability are redrawing the landscape of international security and supply. As governments and businesses rethink resilience, demand for space-based capabilities is accelerating."
Luis Gomes, CEO

SUSTAINABILITY:

CREATING SOLUTIONS THAT IMPROVE THE SUSTAINABILITY AND PRODUCTIVITY OF LIFE ON EARTH

PEOPLE

Create a workplace
where everyone can thrive.

POLICY

Play our part in developing a sector that benefits life on Earth.

OFFERING

Help our clients create
change that benefits society.