Mynaric AG

  • WKN: A0JCY1
  • ISIN: DE000A0JCY11
  • Land: Deutschland

Nachricht vom 22.05.2019 | 11:15

Mynaric publishes Annual Report 2018: company excellently positioned to benefit from booming market development

DGAP-News: Mynaric AG / Key word(s): Annual Results

22.05.2019 / 11:15
The issuer is solely responsible for the content of this announcement.


  • Annual Report 2018 published
  • Mynaric's total operating performance over double that achieved in 2017
  • Report details new management's focus on moving Mynaric into next phase of commercial growth

Munich, May 22, 2019 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has today published its annual report for 2018 showing the group has recorded its strongest financial year to date with total operating performance for FY2018 standing at EUR 7.4 million, more than double the equivalent figures for 2017. Mynaric has this year published figures for the entire group for the first time to improve reporting transparency.
 
"Our annual report details our transition from a technology-centric company developing prototypes to a customer-centric company delivering products.

We are very confident now is the right time for this transition as the market we have envisioned for years finally takes tangible shape. 2019 appears to be the year projects move from the drawing board to implementation, requiring the supplier base to keep abreast. We are committed to becoming a key supplier for this emerging market that the global tech elite is pushing hard to establish."


- Bulent Altan, Member of the Executive Board, Mynaric
 
Stepwise start of serial production key to market leadership

With serial production for ground stations commenced in 2018 and a planned start of production of the airborne product mid-2019, Mynaric is on track to become the first and only company globally to offer a complete portfolio of mature and deployable products needed to realize laser communication in airborne applications. The development of Mynaric's terminal for mega-constellations in low Earth orbit is expected to finish its qualification process in early-2020 with first deliveries of flight units soon after. These timelines put Mynaric in pole position among equipment suppliers who are racing to secure market shares in the booming, emerging market of aerospace networks.

New management a commitment to customer-centric approach

Today's report expands on the role that Mynaric's new executive board will play in taking the company into the next phase of its commercial development and examines the strong customer-centric approach the management is pushing to advance the company to further heights. Key to this approach is Bulent Altan's extensive experience at SpaceX, where he developed invaluable insights from a customer's perspective on how laser communication products need to look like in the space market, as well as Hubertus von Janecek's 20-year track record in global sales of deep tech products. Both recently joined Wolfram Peschko who has led Mynaric's development since 2011.

New building a physical demonstration of Mynaric's progress and focus on commercial market

Annual Report 2018 gives details of Mynaric's new 4,500 sq. meter premises in the heart of the Bavarian aerospace community on the outskirts of Munich.

State-of-the-art facilities, including laboratories, advanced equipment, and production halls have all been designed to help smooth and facilitate the manufacturing process as well as help Mynaric introduce advanced testing capabilities to ensure its airborne and spaceborne terminals are ready for the harsh environments they will face in the upper atmosphere and in low Earth orbit.

Market moves from the drawing board to implementation

The report features an extensive review and forecast of the aerospace communication networks market that the global tech elite is advancing and details why 2019 is expected to be the year projects move from the drawing board to implementation, enabling an industry that will be essential to global economic growth in the coming decades by delivering high-speed and secure connectivity for consumers, corporates and governmental organizations alike.

Download the Annual Report 2018

The annual report is available for download from the Investor Relations section of the Mynaric website: mynaric.com/investor-relations/publications


About Mynaric
Mynaric is a manufacturer of laser communication technologies used to enable communication and surveillance applications in air and space. Its wireless laser data transmission products include ground stations and flight terminals, which allow very large quantities of data to be sent wirelessly and securely over long distances between aircraft, autonomous drones, high-altitude platforms, satellites and the ground.

Globally, the need for fast and secure connectivity is advancing inexorably. Data networks are today largely based on infrastructure on the ground, which cannot be expanded arbitrarily for legal, economic or practical reasons. The future therefore calls for an expansion of the existing network infrastructure into air and space. With its wireless laser communication products Mynaric is positioned as a prime pioneer in this growth market.

For more information see: www.mynaric.com


Contact
e comms@mynaric.com
t + 49 8105 7999-117 (English press)
t + 49 8105 7999-114 (German press)


Important information
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of the Company. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," or, in each case, the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with our industry, as well as many other risks specifically related to the Company and its operations.
 


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