Page 9 - hisdeSAT annual report 2012

indicators both in terms of income and operating defined the work positions, the competences and
costs, and with the aforementioned factors deducted, the profiles of the necessary technical and admin-
have improved on forecasts. istrative personnel, the incorporation and training of
whom will have to take place progressively through-
In addition to the improvement of results due to the out the current financial year. At the same time, the
extension of existing contracts and the setting up of structure of the company will be re-oriented to ensure
new ones, the most notable feature of the Annual Ac- that the current distribution of functional responsibili-
counts is the outstanding effort made by the company ties translates into business-oriented management
to adapt its Accounts to a valuation that is closer to departments.
its assets and estimation of payments. This adapta-
tion will allow for a far healthier starting position in In short, and in light of the challenges that continually
subsequent tax years in such a way that new provi- arise with the provision of satellite services, both in
sions will most probably not be required. traditional producing countries as well as in new and
thriving emerging countries, the continuity and im-
In the area of personnel, the CEO, Roberto López provement of the company’s market penetration will
Fernández has been replaced, after seven years depend on an ongoing improvement in the efficiency
heading the company, and we thank him for his con- of services provided in comparison with the com-
tribution to the evolution of the company during such petition. To this effect, it is essential to accept the
an important period for the diversification of activi- progressive saturation of institutional clients which
ties and expansion into new markets. The position have historically represented the cornerstone of the
has been taken by Miguel Ángel Panduro Panadero, company, in order to evolve towards new alliances
whose proven experience is turning out to be a guar- and markets. The future and with it the very survival
antee for overcoming the important challenges facing of the company relies on it.
the company. Similarly, Enrique Urbelz Pérez has
joined us as Financial and Business Planning Direc- Juan Antonio del Castillo Masete
tor in a newly created position, in order to reinforce Chairman of Hisdesat
management capabilities in a particularly impor-
tant area for the resolution of problems arising from
the current situation and the development of new
initiatives.

In relation to Board members, as well as change in
the Presidency that took place the previous year, the
representative of Hispasat and Indra shareholders
have been replaced, as well as those of Minetur. In
general, it can be said that with its new composition
the Board draws closer to the management of as-
pects directly related to space.

In accordance with the schedules defined in the Busi-
ness Plan presented to the Board on the 27th of
September, in order to adapt the organization to the
requirements derived from new capabilities, we have

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