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AAC Microtec (AAC)

Business description

Based in Sweden, ÅAC Microtec is a world leader in small satellite end-to-end solutions following the January 2018 merger with Clyde Space in Scotland. Both companies supply a range of technology components to larger satellite manufacturers globally.

Stock data

Market cap.SEK432.9m
Last closeSEK6.30
High / Low (52 weeks)SEK14.9 / SEK3.9
Stock market listing
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamIndustrials
SectorAerospace & Defence

Price performance

%1m3m12m
Actual4.3(12.7)26.3
Relative *6.9(14.8)30.9

* % Relative to local index

Other companies in sector Show

Investment summary

ÅAC Microtec has delivered an impressive Q118 performance, the first quarter to include a contribution from Clyde Space since its acquisition in January. Progress of the ongoing business was strong and Clyde’s initial two-month contribution appears in line with previous indications for the year. Management has indicated FY18 revenue of SEK85m, which implies further progress. Healthy order intake and the prospect of rapid growth in small satellite deployment should enable the group to leverage its high-quality manufacturing capacity further improving the move into positive EBITDA in Q418. Share price pressure since the merger appears to be largely technical, which may provide an opportunity for new investors.

Last updated on 29/05/2018

Latest research

Space to grow

Initiation | Aerospace & Defence | 29/05/2018

Small but potential to disrupt

QuickView | Aerospace & Defence | 08/05/2018

Latest video

Executive interview- AAC Microtec

Key management

Alfonso Barreiro, CEO
Mats Thideman, CFO

Company address

Uppsala Science Park
Dag Hammarskjölds väg 48, Uppsala
SE-751
Sweden
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