Ovzon operates in the satellite and space technology industry and focuses on the development and manufacture of satellite systems and services for communications. The company's customers are found in defense, police and emergency services, media, and non-governmental organizations. The operations are global with a main presence in Europe, North America and Asia. Ovzon was founded in 2006 and is headquartered in Solna, Sweden.
* Strong sales figure, but EBIT shortfall on rising opex * We cut '26e/'27e/'28e EBIT by 9%/2%/1% due to higher costs * Order activity has recently increased, 15x '26e EV/EBIT Q2 sales in line, but higher costs than expected Q2 sales broadly met our ...
* Sales +48% y-o-y, in line with cons * EBIT 28% below, partly due to SEK 6m one-offs (adj. -18%) * Cons to cut '26e EBIT by ~5% on lower GMs, share down similarly Q2 results Sales SEK 245m (-1% vs ABGSCe 246m and 0% vs cons 246m), EBIT 47m (-31% vs ...
* Strong Q2e, but more orders are needed... * ...and we expect them to come * 15x '26e EV/EBIT Q2e largely similar to Q1 We expect Q2 to be broadly similar to Q1, with the main difference being an increased contribution from the EU NATO customer (which...
* Renewed SEK 74m order with EU NATO customer (Ovzon-3 related) * 100% SATCOM (5-months); deliveries start 1 Aug'26 * Supports our estimates; potential for more orders A welcomed order announcement Ovzon has signed a SEK 74m renewal order from the defence...
* Strong Q1, but orders muted in seasonally slow Q1 * Small EBIT revisions * We expect more orders ahead; 19x '26e EV/EBIT Strong quarter, but muted orders – as expected In terms of sales and earnings, Ovzon started 2026 with another strong quarter, ...
* Sales +189% y-o-y on recent orders; -2%/-8% vs. ABG/cons * EBIT was -1% vs. ABG and -9% vs. cons * Expect cons to make small revisions, share in line with the market Q1 results Sales SEK 277m (18% vs ABGSCe 234m and 16% vs cons 239m), adj. EBIT 74m...
* Strong Q1e: sales +196% y-o-y, 30% EBIT margin * Small estimate revisions * Ovzon-3 still not at full capacity: 18x 2026e EV/EBIT Strong Q1 on the cards Demand for SATCOM continues to grow, and Ovzon, being a market leader in its niche, is capitalising...