Danish Aerospace Company (DAC) H2 2025 earnings summary

Executive summary

• Focused on developing exercise and health monitoring equipment for astronauts, with expansion into defense and emergency preparedness applications.

• 2025 saw successful project deliveries, including the E4D device for ESA and commercial contracts with Axiom Space.

• Revenue for 2025 was DKK 18.9 million, EBITDA was DKK -2.0 million, and net loss was DKK -3.5 million.

• Lower results attributed to project delays, procurement issues, one-off merger costs, and increased administrative expenses.

Financial highlights

• Revenue increased to DKK 18.9 million in 2025 from DKK 17.7 million in 2024.

• EBITDA improved to DKK -2.0 million from DKK -3.1 million year-over-year.

• Net loss narrowed to DKK -3.5 million from DKK -4.1 million in 2024.

• Gross margin rose to 85.7% from 73.8% year-over-year.

• Equity decreased to DKK 4.7 million from DKK 7.7 million.

Outlook and guidance

• 2026 revenue expected at DKK 22–25 million, with EBITDA projected at DKK 1–3 million.

• Ongoing pursuit of new contracts in space and defense sectors could positively impact results.