Interim report for ÅAC Microtec AB (publ) January - March 2019

INTERIM REPORT FOR ÅAC MICROTEC AB (PUBL) JANUARY - MARCH 2019

BREAKTHROUGH FOR SPACE-AS-A-SERVICE

First quarter, January - March 2019 (compared to January - March 2018)
• Net sales amounted to 14.9 (16.4) MSEK
• Operating profit before depreciation, EBITDA, amounted to -6.5 (-12.2) MSEK.
Earnings for the previous period include acquisition costs of 8.8 MSEK 
• Operating profit after depreciation amounted to -9.9 (-15.6) MSEK.
• Profit after tax amounts to -10.1 (-15.0) MSEK
• Earnings per share before and after dilution amounted to -0.15 (-0.27) SEK

Significant events during the first quarter of 2019
• ÅAC won orders for Sirius avionics from the Japanese market totalling SEK 4
million 
• Alfonso Barreiro left the CEOs post in ÅAC and Mats Thideman was appointed
acting CEO 
• ÅACs subsidiary Clyde Space won satellite and launch orders from KP Labs
totaling SEK 11.1 million 
• ÅAC received orders for new software of SEK 2.1 million from the Institute
for Space Physics 
• ÅACs subsidiary Clyde Space received orders of SEK 2.5 million from Satellite
Applications Catapult for satellite upgrade 
• ÅACs share was approved for trading on Nasdaq First North Premier
• Luis Gomes was appointed new CEO of ÅAC Microtec and takes office in May 2019

Group financial overview
+--------------------------------------+---------+---------+----------+
| kSEK                                 | Jan-Mar | Jan-Mar |       FY |
|                                      |    2019 |    2018 |     2018 |
+--------------------------------------+---------+---------+----------+
| Operating profit before depreciation |  -6 481 | -12 249 |  -28 481 |
+--------------------------------------+---------+---------+----------+
| Operating profit after depreciation  |  -9 932 | -15 636 | - 43 265 |
+--------------------------------------+---------+---------+----------+
| Profit after tax                     | -10 081 | -15 282 |  -42 681 |
+--------------------------------------+---------+---------+----------+
| Earnings per share                   |   -0,15 |   -0,27 |    -0,65 |
| before and after dilution, SEK       |         |         |          |
+--------------------------------------+---------+---------+----------+
| Equity ratio, %                      |    88 % |     91% |     88 % |
+--------------------------------------+---------+---------+----------+
| Cash flow from operating activities  |  -5 069 | -13 105 |  -48 610 |
+--------------------------------------+---------+---------+----------+
| Cash flow for the period             |  -2 115 |  16 409 |  -24 986 |
+--------------------------------------+---------+---------+----------+
| Cash and cash equivalents            |  10 122 |  53 617 |   12 237 |
+--------------------------------------+---------+---------+----------+

Significant events after the accounting period
• ÅACs subsidiary Clyde Space entered into an agreement to deliver data
according to the "Space-as-a-service" concept to ORBCOMM Inc. The order
represents a value of approximately SEK 54 million over 5 years 
• The Board of Directors of ÅAC proposes to launch a rights issue with
pre-emptive right for the Companys current shareholders. Upon full subscription
rights issue, ÅAC will receive approximately SEK 82.5 million before issue
costs. The rights issue is secured to approximately 82 percent through
subscription commitments and guarantee undertakings. The Boards proposal will
be processed at the Extraordinary General Meeting on 8 May 2019. 
• Brent Abbot stepped down as CEO AAC Microtec North America Inc., a subsidiary of ÅAC Microtec. CSO Craig Clark will be acting CEO until a replacement 

FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com http://www.aacmicrotec.com  and
www.clyde.space http://www.clyde.space  or contact: 
Acting CEO Mats Thideman, [e-mail]
mailto:[e-mail] Chairman of the Board, Rolf Hallencreutz,
[e-mail] mailto:[e-mail] 

The information in this report is such that ÅAC shall publish in accordance
with the Financial Instruments Trading Act (1991:980), the Securities Market Act (2007:528) and/or the EU regulation No. 596/2014 on market abuse. The information is provided for publication on the companys website and by a press release published on 8 May 2019 at 08:50 CEST. 

The following documents can be retrieved from beQuoted
AAC Microtec Pressrelease
2019-05-08.pdf-http://www.bequoted.com/beQPress/download.asp?Id=26055 
AAC Microtec Interim report Q1
2019.pdf-http://www.bequoted.com/beQPress/download.asp?Id=26056 

ABOUT ÅAC MICROTEC AB
ÅAC Microtec and its subsidiary Clyde Space offer a full turnkey mission service from design to on-orbit operations including reliable platforms in the range of 1 to 50 Kg; customizable to suit our customers requirements. Our end-to-end service package enables our customers to reach their mission goals with a single, trusted point of contact. In addition, we supply a full range of subsystems for cube satellites and small satellites. 

ÅAC Microtecs shares are traded on Nasdaq First North Stockholm. G&W
Fondkommission, e-mail [e-mail], mailto:[e-mail],  phone [phone], is the Certified Adviser. 

Attachments:
AAC Microtec Pressrelease 2019-05-09 eng.pdf 
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet'showInline=true&messageAttachmentId=724259