Today Ovzon AB announced a delay in the finalization and launch of the company's first satellite Ovzon 3, as well as a plan for financing to complete and conclude the production and launch of the satellite. In connection with this, the company has decided to publish the preliminary overall financial development for the fourth quarter 2022 ahead of its full year-end report. Selected key figures are presented below with comparative figures for the corresponding period in 2021 in brackets. Ovzon will publish the full financial report for the fourth quarter and full year 2022 on February 21, 2023.
Total cash flow amounted to MSEK -57 (-59)
Total cash flow amounted to MSEK -161 (209)
"We can now see the results from our strategy; to drive a step-change in profitable growth in 2022. We deliver our strongest fourth quarter ever, with a sales growth of 38 percent and an improved operating profit of MSEK -9. We renewed contracts with our core customers, won contracts with new customers and expanded into new geographical markets. During the quarter we utilized all satellite capacity and inventory of mobile satellite terminals efficiently. I am very proud of what our team in close collaboration with our partners and customers has achieved to deliver these results" says Per Norén, CEO of Ovzon.
Ovzon's CEO Per Norén and CFO Noora Jayasekara will answer questions at a webcast on February 6, 2023, at 10.00 am CET.
The webcast will be available via the following link:
To participate via conference call, please register via the following link and follow the instructions:
This information is information that Ovzon AB (publ) is obligated to make public pursuant to the EU Market Abuse Regulation 596/2014. The information in this press release has been published through the agency of the contact persons set out below, at the time stated by Ovzon AB's (publ) news distributor Cision upon publication of this press release.
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