LA PLATA, Maryland — Satellite mobile terminal hardware and service provider Ovzon AB of Sweden reported a 15% increase in revenue in 2024, a reduced operating loss and effectively zero EBITDA compared to a loss in 2023.
Its backlog more than doubled, to 344 million Swedish krona ($31.2 million) at Dec. 31. Cash at year’s end was 126 million krona.
The improved financials enabled Ovzon to eliminate a covenant breach on its $65-million loan and to win the approval of its lender, P Capital . . .
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