Ovzon Releases Results for 2024

Stockholm, Sweden, February 20, 2025--Satelltie operator Ovzon  released its year-end results for the period January–December 2024.  Revenues for the period was Swedish Kroner 107 million (approximately US$ 10.4 million) resulting in operating loss of Swedish Kroner 18 million (approx. US$ 1.69 million).  Highlights of the results are as follows (all amounts ar MSEK--Million Swedish Kroner):

October–December 2024

  • Revenue totaled 107 MSEK (91)
  • EBITDA totaled 17 MSEK (-6)
  • Operating loss totaled -18 MSEK (-14)
  • Loss after tax totaled -71 MSEK (12)
  • Earnings per share totaled -0.63 SEK (0.23)
  • Cash flow for the quarter totaled 38 MSEK (191)

January–December 2024

  • Revenue totaled 334 MSEK (290)
  • EBITDA totaled -0 MSEK (-66)
  • Operating loss totaled -82 MSEK (-95)
    Adjusted operating loss totaled -82 MSEK (-106)
  • Loss after tax totaled -162 MSEK (-60)
  • Earnings per share totaled -1.45 SEK (1.09)
  • Cash flow for the year totaled -123 MSEK (-31)
  • The Board of Directors proposes that no dividend be paid for the financial year 2024

Significant events during the quarter

  • Expanded order from Swedish Space Corporation. The new total order value of 132 MSEK was paid in 2024
  • Successful demonstration with the Swedish Defence Materiel Administration (FMV)
  • 185 MSEK order from Swedish Space Corporation on Ovzon 3

Significant events after the end of the quarter

  • Ovzon participates in major strategic 6GSAT initiative
  • Renewal for delivery of SATCOM-as-a-Service to the Italian Fire and Rescue Services
  • André Löfgren appointed as new CFO effective May 1, 2025
  • Extended and amended loan facility agreement with P Capital Partners


"2024 has truly been a game changing year for Ovzon. We have successfully launched and entered our first satellite, Ovzon 3, into commercial service. We have broadened our customer base leading to improved growth in revenue and increased profitability. With an order intake during the year of 516 MSEK, we end the year with an order book at 344 MSEK – the highest level ever for Ovzon. This creates a solid foundation and enables a trajectory for growth in 2025," said Per Noren, CEO of Ovzon.

To read the full results, click here: ENG Ovzon Q4 2024