Mynaric AG

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

Nachricht vom 29.10.2018 | 15:30

Mynaric reports on considerable milestones and strong growth in H1 2018

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

29.10.2018 / 15:30
The issuer is solely responsible for the content of this announcement.


Mynaric reports on considerable milestones and strong growth in H1 2018

  • Considerable progress in move from a development company to a production company
  • Exclusive industry partnership gives company an edge in product development
  • Market momentum increasing and competition steadily growing, but Mynaric excellently positioned

Munich, October 29, 2018 - Mynaric, a producer of laser communication terminals for the aerospace communications industry, has published its H1 2018 report and updates on considerable technological and product milestones during the first six months of the financial year 2018.

Picking up speed in the move to serial production

In the first half of 2018, Mynaric put in place systems and processes to help transfer the company into a serial producer of laser communication terminals. Following a recent milestone delivery of a ground station to a customer, Mynaric has now formally moved into serial production of its two types of optical ground stations for, respectively, air-to-ground and space-to-ground data transfer.

Product development on track and benefits from technology collaborations

Mynaric successfully strengthened its global partner network with expert technology partners, one such being CEA-Leti in France. In working exclusively with Leti, Mynaric has access to a component that promises market-changing improvements to their laser communication products' specifications. Development of Mynaric's laser terminal for space continues apace and critical development milestones have been passed in H1 2018.

Report shows a burgeoning market attracting ever greater interest and investment

The aerospace telecommunications market continues to grow at an astonishing rate and new players -started by both venturous newcomers and established industry veterans - are emerging to leverage on new opportunities. With laser communication being one of the crucial technologies enabling these new business models more competition is entering the market but today's report shows how Mynaric is positioned better than ever to remain, nevertheless, a leading player in the lasercom market.

Financial results continue to develop positively, and strong FY 2018 expected

Mynaric's operative subsidiary responsible for sales, manufacturing and development achieved a total output of EUR 2.7 million in the first half of 2018 - already 85% of the full year results for 2017. Financial performance in the second half of 2018 is expected to surpass that of the first half due to the onset of serial production of ground stations, as well as other factors.

The H1 2018 report is available for download in German and English:
https://mynaric.com/investor-relations/publications

 

About Mynaric

Mynaric is a manufacturer of laser communication technologies used to establish dynamic communication networks 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 over long distances between aircrafts, autonomous drones, high altitude platforms, satellites and the ground at high data rates.

Globally, the need for fast and ubiquitous network connectivity is advancing inexorably. Data networks are today largely based on infrastructure on the ground, which cannot be expanded arbitrarily for legal, economic or logistical 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

 

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.
 

Contact:

Mynaric AG
Friedrichshafener Straße 3
82205 Gilching
Germany
Tel. +49 8105 7999 117 (English media)
Tel. +49 40 609186 65 (German media)
E-mail: comms@mynaric.com 
www.mynaric.com 

 


29.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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