Brief: Gomspace, ESA To Not Proceed Next Phase Of Climate Observation Mission

GomSpace AB

31/05/2023 14:05

May 31 (Reuters) - GomSpace Group AB  GOMX.ST :
    * GOMSPACE AND ESA WILL NOT PROCEED TO THE NEXT PHASE OF
CLIMATE
OBSERVATION MISSION
    * IT IS NOT POSSIBLE FOR GOMSPACE AND RAL SPACE TO DELIVER
SCOUT-1
MISSION INSIDE PROGRAM BUDGETARY CONSTRAINTS THAT ESA HAS SET.
    * ESA INFORMED GOMSPACE AND RAL SPACE THAT IT WILL NOT
CONTINUE
CUBEMAP MISSION
    * OUT OF ORIGINAL CONTRACT VALUE SHARE OF EUR 7,000,000
DIRECTLY
TO GOMSPACE, AS ANNOUNCED ON DEC 6. 2021, COMPANY HAS INVOICED
ABOUT EUR 3,200,000 FOR WORK DONE TO DATE
    * IT IS EXPECTED TO HAVE RELATIVELY LIMITED IMPACT ON OUR
CONTRIBUTION MARGIN AND FREE CASHFLOW

Source text for Eikon:  ID:nWkr64HrG6 
Further company coverage:  GOMX.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))