April-June 2025
- Revenue totaled 166 MSEK (67)
- EBITDA totaled 63 MSEK (-12)
- Operating profit totaled 27 MSEK (-17)
- Profit after tax totaled 22 MSEK (-16)
- Earnings per share totaled 0.20 SEK (-0.14)
- Cash flow for the quarter totaled -93 MSEK (-42)
January-June 2025
- Revenue totaled 256 MSEK (132)
- EBITDA totaled 81 MSEK (-29)
- Operating profit totaled 11 MSEK (-42)
- Profit after tax totaled 18 MSEK (-59)
- Earnings per share totaled 0.16 SEK (-0.53)
- Cash flow for the period totaled -53 MSEK (-119)
Significant events during the quarter
- 12-month renewal from European customer of 5.7 MUSD
- 24-month order from the Swedish Defence Materiel Administration (FMV) at a value of 1.04 billion SEK
Significant events after the end of the quarter
- Additional order from FMV for mobile satellite terminals - order value 72 MSEK
- Customer payments of 264 MSEK received July 1, 2025
Strong growth and improved profitability
The second quarter of 2025 marked an essential commercial breakthrough for Ovzon. At the end of May, we received an order from the Swedish Defence Materiel Administration (FMV) worth 1.04 billion SEK - by far the largest in the company's history to date. The order encompasses our integrated SATCOM solution, including satellite network services, several models of our unique mobile satellite terminals, and dedicated customer support. This is not only a testament to our technological and operational relevance - it also pivots our continued profitable growth.
Order intake validates our solutions and technology
The FMV order clearly demonstrates that Ovzon's offering meets the most critical and resilient communication needs. With a 24-month term, immediate delivery of mobile satellite terminals, and progressive payment terms, the contract brings both commercial impact and enhanced financial predictability. The satellite services are mainly based on third-party satellite capacity, but we will also utilize Ovzon 3 where it is operationally and commercially viable.
Our order book at the end of the quarter amounted to 1.2 billion SEK, and our order intake over the past 12 months totals approximately 1.5 billion SEK. After the end of the quarter, we also received an additional order from FMV at a value of 72 MSEK for additional mobile satellite terminals, with deliveries starting in the third quarter of 2025.
Improved profitability and solid financial position
Revenue during the quarter increased to 166 MSEK, corresponding to a growth of 147 percent. EBITDA improved to 63 MSEK and our profit after tax was also positive - a result of increased sales, optimized capacity utilization, and effective cost control. We expect strong cash flow going forward, driven by our customers' demand for fast and high-quality deliveries. Overall, the quarter confirmed our position as a trusted partner for critical missions, and we have continued to strengthen our financial and operational foundation for profitable growth.
Ovzon - a strategic partner in an un-predictable world
The demand for resilient satellite communication systems (SATCOM) continues to grow, driven by increased geo-political tensions and an accelerating focus on sovereignty and strong alliances. Ovzon continues to be well-positioned with our integrated SATCOM solution, where performance, mobility, and resiliency are vital characteristics that government entities and NGOs highly value.
While demand continues to grow, government decision-making can be unpredictable. Ongoing shifts in the U.S. administration's budget, procurement priorities, and processes are contributing to temporary uncertainty. As an example, the U.S. Department of Defense has not renewed the 12-month contract signed in August 2024. We are, however, confident that end-users clearly recognize the unique value of our SATCOM solutions. We continue to actively pursue opportunities within the U.S. DOD and other customers. The U.S. market remains a long-term strategic priority for Ovzon.
High commercial activity
During and after the end of the quarter, we continued our active dialogues and demonstrations with both existing and new customers. It takes time, but it is necessary in order to provide in-depth training, demonstrate Ovzon's uniqueness, and build trust. We have participated in a number of industry-leading forums, including the international NATO summit in The Hague and several customer-specific engagements. We seize every opportunity available to demonstrate our performance compared to other types of solutions, which create short and long-term business opportunities.
Positioned for profitable growth
Our first proprietary satellite Ovzon 3, with its On-Board-Processor, enabling direct terminal-to-terminal communication without the need for ground infra-structure, has now been in commercial service for more than a year and exceeds all expectations. We see an increased demand and are engaged in deep and productive dialogues with relevant customers and countries. Backed by a strong order book we are well equipped to take the next step.
We look forward to sharing more about this at our Capital Markets Day in Stockholm on September 4.
Per Norén, CEO Ovzon
Webcast
In conjunction with the interim report, a webcast will be conducted at 10:00 am CEST on August 15, 2025. Ovzon's CEO Per Norén and CFO André Löfgren will present the results and answer questions.
The webcast can be reached via the following link: https://youtube.com/live/F9EEobM04FE?feature=share
For further information, please contact:
Per Norén, CEO, pno@ovzon.com, +46 73 070 56 47
André Löfgren, CFO, alo@ovzon.com, +46 70 251 70 90
About Ovzon
Ovzon offers world-leading integrated mobile satellite communications services, SATCOM-as-a-Service, to customers globally. The services combine high throughput satellite networks, mobile satellite terminals, gateway services, and dedicated customer support. Ovzon's offerings meet the growing demand for mission critical connectivity for customers with high performance, mobility and resiliency requirements such as Defense, National security and Public safety. On July 5, 2024, commercial service commenced on Ovzon's proprietary developed geostationary satellite Ovzon 3. Ovzon has offices in Stockholm, Sweden as well as Herndon, VA and Tampa, FL in the USA. Ovzon is listed on Nasdaq Stockholm Small Cap. For more information, visit www.ovzon.com.
This information is information that Ovzon AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-08-15 08:00 CEST.
