Ovzon looks to improved market response
February 23, 2024
By Chris Forrester
Satellite operator Ovzon AB turned in a disappointing set of numbers during its Q4 and full year trading results for the period to December 31st 2023.
Sweden-based Ovzon reported 2023 full-year revenue of 290 million Swedish krona (€26.5m), down 18.8 per cent from 2022, with an increased operating loss of 95 million krona compared to 81 million krona the previous year.
CEO Per Norén said that 2024 was going to be an inflection year as its important Ovzon 3 satellite begins operations. Ovzon 3 was launched on January 3rd by SpaceX and will be active mid-year from its 59.7 degrees East position.
Ovzon also provides satellite terminals in particular its T-7 mobile terminal which the company claims offers a superior service. The US Dept. of Defense is a buyer of these terminals.
Ovzon signed a useful contract (worth 135 million Krona) with Swedish Space Corp for terminals and Ovzon’s satcoms as a service offering.
Norén told analysts that its satellite covered one-third of the globe, and that the company had access to more than ten other orbital slots, commenting: “The goal is global reach,” he stated. Ovzon 3 was built by Maxar Technologies but Norén said that the company was considering options which could include leasing capacity from third-party operators, or developing its own satellites.”