Kebni reports 14% revenue drop on delayed SatCom orders

Swedish company Kebni, specializing in inertial sensing and satellite communications, saw a 14% decrease in revenue for the second quarter of this year. The drop in revenue, totaling SEK 28.80 million, was slightly lower than the SEK 29 million forecast by one analyst. The primary factor behind this decline was the ongoing delays in SatCom customer orders, which Kebni attributed to the internal decision-making and procurement processes of end customers. Despite these delays, no orders have been lost, according to the company.

The adjusted net profit for the quarter remained in the red, and the company's operating result was impacted by an impairment charge linked to its ScaffSense joint venture. Additionally, higher costs also played a role in the negative results during this period. Kebni's investments in engineering and development for both SatCom and inertial sensing products led to an uptick in their cost base in the short term.

However, the company remains optimistic about the future. They anticipate a full recovery from supply chain disruptions in the third quarter. Furthermore, Kebni plans to expand its inertial sensing production capacity to double its current level, aiming to accommodate anticipated future volumes.