AAC Clyde Space (AAC) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 reached SEK 352.9 million, the highest in company history, with a 28% year-over-year increase and record operational performance.

• Full-year EBITDA was SEK 46.7 million (SEK 49.2 million adjusted), reflecting strong operational results.

• Maintained positive operational cash flow for the third consecutive year, supporting sustainable profitability and growth.

• Completed Spacemetric acquisition in Q4, strengthening data services and Earth Observation capabilities.

• Focused on delivering satellite-based data and services for sectors such as agriculture, forestry, and maritime, with growing demand.

Financial highlights

• Q4 2024 sales rose 102% year-over-year to SEK 143.0 million; full-year sales SEK 352.9 million.

• Q4 EBITDA reached SEK 33.0 million (SEK 35.6 million adjusted); full-year EBITDA SEK 46.7 million (SEK 49.2 million adjusted).

• Order backlog at year-end SEK 541.1 million, supporting the 2025 budget.

• Q4 cash flow from operations SEK 53.7 million; full-year SEK 56.8 million.

• Available cash and equivalents at year-end SEK 49.7 million; total liquidity SEK 70.8 million.

Outlook and guidance

• Management anticipates double-digit net sales growth, continued positive EBITDA, and sustained positive operating cash flow in 2025.

• First satellite in new Earth Observation constellation to launch in 2025, with additional launches in 2026.

• Ongoing focus on quality delivery, operational excellence, and expanding Space Data as a Service.

• Anticipates strong integration of recent acquisitions and improved efficiency and profitability in 2025.