Unibap Space Solutions AB

So, hello and welcome to Unibab's quarter presentation after Q1. Some practical details first when we start here. This presentation will be recorded and then available on our website. At the end of the presentation, we will answer questions and you can write in some questions in the chat in the same way as we have done in previous quarters now. So we hope you have questions. Then we start. So, the agenda is, first Emil, our CFO, will draw some financial figures. Then I will go through the most important events during the quarter and some that happened after the start of the quarter. Then we go into an overview of Unibap, what we are doing and how we see the market and the like. And then in the end we talk about what we call ambitions, that is, goals for the future. So let's get started, Emil.

Thank you very much, Johan. Unibap delivered a very strong quarter for Q1 2024, where we grew 205 percent quarter over quarter, which is an incredibly strong result, but especially if you look at the growth towards the previous quarter, or the last quarter, we have grown by 78%. We are on a strong path towards growing by the 50% that we had as an ambition last year. So that's a lot of positive. What Johan also mentioned in the VD word, we have this shift towards selling hard goods and products. Our majority of our revenue in Q1 comes from that type of hard goods sales. Which is where we want to go as a company, where we also have very good margins. Regarding our EBITDA, we make a profit this quarter. We have some positive input effects in the result, but the basic result is positive and very strong, which is very pleasing. The company also shows a positive cash flow for Q1. which is a big part of the result, but where we also have, what is it now, where we bind a lot of the network and capital in the company, primarily against the law. But here we should also expect to have, what is it now, fluctuations over the coming quarters. as we have also said earlier. And that is still one of the things we are expecting. So that was a short summary of the results for the quarter. Back to Johan.

Thank you Emil. Yes, we are satisfied with our deliveries during the quarter and we see that we are on the way to reaching our ambition and goal of at least 50% growth during the year compared to previous years. So, if we look at the most important events during the quarter and right after the quarter, we started this year with an order from Hawaii Space Flight Laboratory for a NASA-funded project. It's called HIT-2. And this was right after we published... That order came just before we published it on March 21st. That is, what the HIT-1 satellite was equipped with, the IX-5. And then we got an order for an IX-10 for HIT-2. This is very positive. It is a NASA-funded project, so it is a good reference for us. They are also a bit special, these satellites. They are quite small satellites, a little smaller than what we normally have with us, but they have very advanced sensors, so in principle our computers are required as a link in the chain to be able to handle the large data flows from these very advanced satellites. The purpose of these satellites is to to predict a volcanic eruption. It's an interesting application, but from our point of view, the most important thing is that we see a trend towards more and more advanced sensors with more and more data flows, which we consider to be driven by edge computing. And it was also very positive that they have worked with iX5 for a few years and then chose to continue with iX again. We also see that as a very good reference. Unfortunately, as we have already talked about during the autumn, our Israeli customer In the end, we chose to close the project due to the circumstances in Israel, which has nothing to do with us. According to both our and Kunde's assessment, we had a very good project together, but unfortunately, the circumstances are difficult in Israel, so it is unfortunate. A little later, in March, we received an order from The Orbit, and as you may remember, you who have been with the company for a while, we have had a fairly long-running collaboration project with The Orbit. And that has, among other things, meant to verify that you can do over-the-air upgrades of software up in space. So we have sent up more than 40 third-party applications and shown that you can program and basically control satellites over the air. And this has been groundbreaking. Under this project, we have also developed a business model for edge computing as a service in the space. Now we have chosen to go further with this business model and make it a business area. De har även testat en del av vår konkurrens, det har de publicerat information om, så vi är mycket glada då att de valde att beställa från oss nu när de går vidare permanent med den här affärsmodellen, så det ser vi också som en bra bekräftelse. Den här ordenen omfattade IX-femman, och det är också IX-femman som vi har använt i det här samarbetsprojektet. Sen fick vi också då i slutet av mars Authorization Proceed, vilket är ju egentligen a kind of pre-order and a cost protection to start with batch 2, the second batch of 3 of the big constellation order that we got at the beginning of last year from a European SMOLSAT integrator. This is a larger European constellation where all satellites have our computers on board. This is very positive, partly because it is a big deal for us, And then there is also a confirmation that we have delivered well on the first batch. Now we have not received the entire order on the second batch yet, but this is a kind of advance notice and cost protection to be able to get started with production preparations. Because there are short lead times in this project, which is also in line with our strategy, to be able to deliver with short lead times, but the customer is waiting for slutgodtjänande från sin slutkund, som är en europeisk myndighet. Så det är väl därför som inte hela orden har kommit henne, men vi fick både sorts förhandsbesked och authorization to proceed. Hela batchen är värd 2,25 miljoner euro, vilket kanske är 25 miljoner kronor ungefär, eller mer. Men som sagt, vi har inte fått hela orden än, men vi har fått förhandsbeskedet. After the quarter, we will have delivered to the defense project Bifrost. It is also a IX5 that we will have delivered to FNB, the Defense Materials Agency. It is a Swedish project, we will talk a little more about it later. This is very positive for us too, because it is a strong growth, one could say, That is, defense-oriented space operations. This is a good way for us to get into that market. We are also indirectly, through our distributor Moog, we also deliver into American defense projects, but we can't often talk about them, but we can talk about these projects as a Swedish-Danish defense project. Just this morning, we also received an order from the Finnish space company Reorbit. It is an order for one satellite, the first satellite, but it is also important that we have become in-designed in their new platform. So that is probably the most important thing that has happened during the quarter and it has shown a good trend.