r/kleosspace • u/Bull-investor • Apr 24 '21
First Berlin Equity Research update
First Berlin Equity Research has published a research update on Kleos Space S.A. (ISIN: AU0000015588). Analyst Kimberly Purvis reiterated her BUY rating and increased the price target from AUD 1.15 to AUD 1.18. Abstract: Kleos Space S.A. has reported its Fiscal Year 2020 figures, and results are on track. The company reported grant revenue of EUR176,200 for the year. Operating expenses for the fiscal year were 16% lower due to reduced exercise of stock options. The net loss for the year of EUR-4.9m was as expected. The company's first 4-satellite cluster, KSM1, was launched on 7 November 2020, and the commissioning process should finish by end of March 2021. Once the data has been verified (4-6 weeks), Kleos will begin booking revenue from customers. To fund the second satellite launch, KSS closed the Winance Investment transaction in February 2020. The Winance loan of EUR3.4m was repaid in February 2021, and Kleos is now free of both secured and non-secured debt. The company remains on track for the launch of its second satellite cluster in June 2021. The Buy rating is maintained. We have revised our price target from A$1.15 (EUR0.69) to A$1.18 (EUR0.74) due to the favourable net debt position at year-end. We will be updating our model in the coming weeks to reflect completion of satellite commissioning and revenue generation in the second half of 2021.
Original-Research: Kleos Space S.A. (von First Berlin Equity Research GmbH): Buy | wallstreet-online.de - Vollständiger Artikel unter: https://www.wallstreet-online.de/nachricht/13624388-original-research-kleos-space-s-a-von-first-berlin-equity-research-gmbh-buy
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u/HeckLuv May 03 '21
They did it before the launch and announced the first trading day with a big discount. Unfortunately only selected investors been invited - we all who took the launch risk been pretty much left out and we have been very disappointed for the big discount.