Telescopes

Annual Report 2020

ANNUAL REPORT AND ACCOUNTS 2020

AAC Clyde Space has made huge strides towards our goal of becoming a world leader in commercial small satellites and services from space. Against the backdrop of the global pandemic, we have completed three strategic acquisitions, two capital raises, and built a large and promising sales pipeline to drive growth in 2021 and beyond. These results are a testament to the tenacity and fortitude of our highly skilled teams and partners.

DOWNLOAD THE REPORTYEAR IN REVIEW WITH CEO LUIS GOMES

ROBUST FINANCIAL PERFORMANCE (2019 COMPARISON)

+48%

Net sales
(organic growth):
SEK 98.4M (66.4)

+36%

EBITDA
SEK -17.5m (-27.3), excluding acquisition costs of SEK 7.6m and non-recurring personnel costs of SEK 1.8m

Tangibleprogressdespite the pandemic

NET SALES AND EBITDA BROKEN DOWN BY SIX-MONTH PERIOD*

*Excluding acqusition costs and non-recurring personnel costs

ORDER BACKLOG

THREE STRATEGIC ACQUISITIONS COMPLETED

HYPERION

The Hyperion acquisition extends our product offering and access to key technologies, adding substantial capability to our missions. It brings in-house equipment widely used in our satellites, giving us greater control over our supply chain and further reducing costs through economies of scale

SPACEQUEST

This acquisition gives us a strong foothold in the US – the world’s largest and most dynamic space market – and provides immediate clients and profitable revenues for our Space Data as a Service business, the central pillar of our growth strategy

OMNISYS (completed 30 April 2021)

Through the Omnisys acquisition we gain 28 years of experience in developing profitable, high-performance electronics hardware, including world-class sensors. In particular, we gain a leading position in space-based weather data, a field set to grow strongly as new technology supports dramatically improved forecasts

YEAR IN REVIEW WITH CEO LUIS GOMES

xSPANCION:
anchoring Space-Data-as-a-Service

In November, AAC Clyde Space announced its plans to develop a 10-CubeSat communications and earth-observation constellation.

The project is being co-funded by public and private partners, including the UK Space Agency via the European Space Agency (ESA).

Our work will create a blueprint for developing future constellations, anchoring the development of Space-Data-as-a-Service for our clients.

“xSPANCION will revolutionize our space-data-as-a-service offering. It will allow us to significantly reduce the cost of every message collected, every image captured, supporting those business cases that to date have not been able to justify the capital expenditure to have hundreds of sensors in orbit. Fundamentally, our clients will no longer have to worry about how to access space; they can focus on how to enhance their core business.”

Luis Gomes, CEO, AAC Clyde Space

“Building satellites quicker and in higher volumes is not only vital to meet the increasing demand for services we all rely on, it also supports the launch of small satellites from U.K. soil in the coming years.”

Graham Turnock, Chief Executive, UK Space Agency

Key contracts won in 2020

  • Q1
  • Q2
  • Q3
  • Q4

Q1

Intuitive Machines (US): supplying power systems and batteries for the Nova-C lunar lander mission and others (SEK 12M)

NSLComm (Israel): delivering one 6U satellite and services (SEK 15M). NSLComm has appointed AAC Clyde Space as its preferred supplier in its planned satellite constellation

Q2

Loft Orbital (US): expansion of a previous order by SEK 2M for satellite power systems

Orbital Micro Systems (US): delivering one 6U satellite for the OMS commercial constellation, designed to deliver weather data (SEK 7M)

Scottish Enterprise (UK): Grant to develop next generation nano and small satellites (SEK 27M)

Moog (US): developing solar panels for Moog’s new orbital manoeuvring vehicle, a space tug designed to transport and deploy CubeSat constellations in their final orbit (SEK 4M)

Q3

Saab (SE) and Orbcomm (US): partnership to build the next generation of maritime communications (SEK 17M, including SEK 12.2M grant from the Swedish Transport Administration)

Q4

British Space Forge (UK): designing a satellite platform that will take advantage of the space environment for production in-orbit (SEK 1.3M)

European Space Agency (EU): performing an in-orbit verification flight for CubeCAT, a laser communication terminal designed to improve data communication for small satellites (SEK 1.5M)

ORBITAL MICRO SYSTEMS

from
microwaves

to
weather
forecasting

More accurate weather and Earth observation data for businesses – anytime, anywhere

The world needs more accurate weather forecasting. Extreme weather events – from excessive rainfall to coastal flooding and wildfires – were responsible for much devastation across our planet in 2020.

AAC Clyde Space is working with Orbital Micro Systems (OMS), amongst others, to deliver accurate and timely weather information to businesses worldwide and enable faster, informed decision-making in the face of weather-driven emergencies.

More accurate weather and Earth observation data for businesses – anytime, anywhere

The world needs more accurate weather forecasting. Extreme weather events – from excessive rainfall to coastal flooding and wildfires – were responsible for much devastation across our planet in 2020.

AAC Clyde Space is working with Orbital Micro Systems (OMS), amongst others, to deliver accurate and timely weather information to businesses worldwide and enable faster, informed decision-making in the face of weather-driven emergencies.

EUTELSAT

from
constellations

to a global
Internet
of Things

Transmitting business-critical information from tens of millions of objects, all over the world

As the world gets ‘smarter’, we’re demanding better coverage, speed and reliability from our networks. Satellite constellations have a critical role to play here in supporting terrestrial networks.

AAC Clyde Space is supporting global satellite operator Eutelsat to construct its own LEO constellation, ELO (Eutelsat LEO for Objects), to deliver global IoT coverage, enabling objects to transmit data, irrespective of their location.

Transmitting business-critical information from tens of millions of objects, all over the world

As the world gets ‘smarter’, we’re demanding better coverage, speed and reliability from our networks. Satellite constellations have a critical role to play here in supporting terrestrial networks.

AAC Clyde Space is supporting global satellite operator Eutelsat to construct its own LEO constellation, ELO (Eutelsat LEO for Objects), to deliver global IoT coverage, enabling objects to transmit data, irrespective of their location.

ORBCOMM & SAAB

from
VHF data

to
safer,
healthier
oceans

Developing the next generation of maritime communications

Over 80% of international trade is transported by sea. As our oceans become more congested, we need to improve our tracking systems and the way we manage emission levels.

AAC Clyde Space is working with industrial IoT solutions provider, ORBCOMM, and aerospace and defence company, Saab, to improve sea safety and lower emissions worldwide.

Developing the next generation of maritime communications

Over 80% of international trade is transported by sea. As our oceans become more congested, we need to improve our tracking systems and the way we manage emission levels.

AAC Clyde Space is working with industrial IoT solutions provider, ORBCOMM, and aerospace and defence company, Saab, to improve sea safety and lower emissions worldwide.

NSLCOMM

from
unfolding
antennae

to
broadband
anywhere

Connecting the underserved

Around half the world’s population still do not have internet access. The lack of coverage prevents billions of people from accessing communications that most of the developed world now takes for granted, from GPS and video streaming to precision farming solutions that can increase crop yields and save water.

AAC Clyde Space is working with NSLComm to change this, using nanosatellites to deliver fast, reliable and affordable communications to some of the most remote places on Earth.

Connecting the underserved

Around half the world’s population still do not have internet access. The lack of coverage prevents billions of people from accessing communications that most of the developed world now takes for granted, from GPS and video streaming to precision farming solutions that can increase crop yields and save water.

AAC Clyde Space is working with NSLComm to change this, using nanosatellites to deliver fast, reliable and affordable communications to some of the most remote places on Earth.

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