DGAP-News

Mynaric publishes Annual Report 2020 and reports about key highlights

DGAP-News: Mynaric AG / Key word(s): Annual Report Mynaric publishes Annual Report 2020 and reports about key highlights 07.04.2021 / 10:32 The issuer is solely responsible for the content of this announcement. Gilching, April 7, 2021 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has published its Annual Report 2020, detailing the company's commercial and product progress over the course of the reporting period and highlighting some of the key milestones achieved last year. These include:

- Alignment of Mynaric's positioning with the security interests of its core markets - acknowledging the strategic role of laser communications for nation states and opening significant revenue opportunities with governments of NATO and partnering nations.

- Successful positioning of Mynaric's products in key U.S. government programs - a critical milestone considering the catalytic role U.S. government programs play for the aerospace industry.

- Headcount growth to around 200 employees - the largest concentration of experts on laser communication systems worldwide, to Mynaric's knowledge.

- Raising of an additional EUR 70 million of growth funding - to support execution of its business plan.

- Increase of global facility space to more than 7,000 sqm - including facilities to set up significant additional production capacity to manufacture laser communications products at scale.

- High profile hires from the aerospace industry - bringing substantial expertise on how to capture the market and a wide-reaching network to execute on that.

- Expansion in the U.S. with offices in Los Angeles and Washington D.C. and a growing U.S. workforce, in particular in sales and customer support.

Financially, total output in 2020 reached EUR 9.4 million (2019: EUR 7.9 million) mostly due to further work on product development which was capitalized. Revenue increased by 53% to EUR 0.7 million (2019: EUR 0.4 million) primarily driven by the delivery of its first HAWK AIR terminals to a major U.S. customer with which Mynaric has begun work to introduce the product to the U.S. governmental market. Delivery of CONDOR terminals initially scheduled for 2020 was not completed due to Mynaric's withdrawal from the Chinese market.