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Ovzon: Delayed launch of Ovzon-3 - ABG

Supply chain disruptions affecting the Ovzon-3 timeline
New launch slot in Q2’22 – operational satellite in Q4’22
Q2 results due tomorrow

This evening, Ovzon announced that the launch of its proprietary satellite, Ovzon-3, has been postponed to Q2’22 from previously Q4’21. The rescheduling is due to insufficiencies in key components due to the COVID-19 related supply chain disruption, which has affected the completion of the satellite. We note that there has lately been news that also other satellite manufacturers are suffering similar challenges, for example relating to Airbus. Although we acknowledge that the risk for this to happen has been true for some time, we had anticipated Ovzon to meet its timeline as the project has now been active since August 2019 and was soon entering its final stage. Ovzon does not expect the rescheduling to affect its current business and deliveries to current and new customers.

The company’s Q2 results are due tomorrow, which will present us an update on the current business momentum.

Finwire / Börsvärlden

Publicerad 18 August 2021, 08:52

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