Renewed order with EU NATO customer

研报英文原文证据摘录

Renewed order with EU NATO customer

Equity Research - 30 June 2026 17:17 CEST

Fast commentOvzon

Renewed order with EU NATO customer Commissioned research

• Renewed SEK 74m order with EU NATO customer (Ovzon-3 related) Not rated

• 100% SATCOM (5-months); deliveries start 1 Aug'26 Telecom Equipment

• Supports our estimates; potential for more orders

OVZON-SE/OVZON SS

A welcomed order announcement Share price (SEK) 29/6/2026 41.84

Ovzon has signed a SEK 74m renewal order from the defence

organisation of a European NATO country relating to the company's full

SATCOM solution on Ovzon-3. Order intake has been quiet for a while, MCap (SEKm) 4,698

so today's news is welcome. The order will run for five months from 1 MCap (EURm) 423

Aug'26. This order is a renewal of one received on 19 Dec'25, but, unlike No. of shares (m) 111.5

that one, it only includes SATCOM. There is also potential for further Free float (%) 65.8

expansion and extension, and the company views this as the beginning of Av. daily volume (k) 340

a broader initiative to establish a shared satellite communication coalition

with additional European NATO countries.

Next event Q2 report 17 July 2026

Supports 2026e estimates

The order is roughly the same size as the previous contract (SEK Analyst(s):

96m SATCOM order for ~6 months) and continues to utilise the spare simon.granath@abgsc.se, +46 8 566 286 32

capacity we have identified on Ovzon-3 (~50% utilisation, according to daniel.thorsson@abgsc.se, +46 8 566 286 82

our estimates). The fact that this renewal is SATCOM-only, rather than

including terminals, suggests that the customer is renewing because of

the capacity itself - i.e. "high-quality" revenue. As the contract begins on 1

August, the majority of the value will be realised in H2 2026. The 'coalition'