Gomedia denies debt problem
March 30, 2023
By Chris Forrester
Sweden’s satellite terminal builder Ovzon AB recently blamed Italy-based Gomedia Satcom for their current financial squeeze and saying (on March 22). Ovzon, in its financial statement, stated that Gomedia was due to pay interim payments during 2022 but that during the autumn of last year Gomedia “experienced financial difficulties” and started to fall behind on payments.
Gomedia insists it is financially stable and capable of absorbing payment delays that came from its own customer (the Italian Fire & Rescue Service) and that such delays were normal when dealing with Italian public administrations.
Gomedia’s CEO Gaetano Morena also argues that it informed Ovzon about the payment delays and agreed a modified payment plan with Ovzon last August.
Ovzon had informed the market that the delayed payments from Gomedia had forced the Swedish company to restate its financial results.
Ovzon CEO Per Norén, in a March 22nd webcast for shareholders, said Ovzon and Gomedia in February 2022 had worked out a structured payment scheme designed to accommodate Gomedia’s issues but still result financially within the contract’s terms. Norén said that the Italian final customer was happy with the service and that the service would continue.