A lot of doom & gloom here after the AGM, with basically no news...

A lot of doom & gloom here after the AGM, with basically no news while we’re waiting for the outcome of the strategic review. However, our most vocal posters, iloveicecreams & benson1610, just left the building, they sold out on Friday while the share price actually closed upbeat for the day.

My take is that the current marketcap incorporates a lot of doom and gloom, while acknowledging Fred Bart’s comments about a possible bankruptcy scenario. Yet, if the outcome of the strategic review moves towards breaking up the company and selling all the parts, a lot of value could be identified.

EM Solutions is growing double digits and is very profitable. The company still has money in the bank and invested hundreds of millions of dollars in R&D over the years. Defense still has a decent order backlog and at itself should be profitable. The RWS are deployed right now on the battlefield in the Ukraine. They have build a fully operational factory in Huntsville Alabama, USA, with more than one hundred skilled employees.

The Hanwha contract would be worth 1 billion in direct sales and around 1,5 billion in aftersales. It’s all in the cards.

We have Spacelink and the spectrum. All very unclear for now, but that could change soon.

The company made huge investments over many years in Space Situational Awareness. Profitability is not visible yet, but the technology should be worth something.

And for now, 2022 revenue are expected to be higher than 2021.

I hold my horses.