Mobile satcom provider Ovzon: Wider operating loss in 2023, revenue down 18.8%; Ovzon 3 satellite service starts mid-year

by Peter B. de Selding

LA PLATA, Maryland — Satcom hardware and service provider Ovzon AB told investors the company is entering a new era with the launch of its first satellite and that it was optimistic that the market would respond, especially when the satellite enters service this summer.

The company said its disappointing 2023 financial results were caused by  special situations — a lower-rate renewal of an Italian Fire and Rescue Service contract, the U.S. budget stalemate that has affected Defense Department commitments — that should not carry forward into 2024 . . .

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