SEK 1bn break-through order from Swedish FMV ~80% leased capacity SATCOM (24 months), ~20% Terminals Could add ~50% to '25e-'26e EBITDA estimates
ANNONS
Record-high order from Swedish FMV
Today, Ovzon has announced a SEK 1.04bn (USD 110m) breakthrough order with the Swedish Defence Materiel Administration (FMV): this is by far the largest order that Ovzon has ever received. Of this order, ~80% relates to a 24-month SATCOM contract (start in June), and ~20% relates to terminals. According to the press release, the SATCOM element relates to leased capacity (at least Ovzon-3 is not mentioned), which is somewhat surprising given that Ovzon-3 is not fully utilised (with utilisation at ~40% in Q2e). This means that Ovzon may need to purchase extra capacity in order to fulfil this order. Hopefully, we will learn more about this during its conference call at 10:00 CET.
