Page 10 - hisdeSAT annual report 2014

Presentation

Presentation of the

fiscal year

If one had to summarise our balan- gly to the company. The system of
ce sheet this past year in one word, government communications via
that word would undoubtedly be satellite that we provide through
“strengthening”. In 2014, Hisdesdat the SpainSat and Xtar-EUR satelli-
has maintained high levels of activi- tes, continues to cater for the needs
ty with business metrics similar to of our domestic and international
previous years, even recording the customers, translating into signifi-
best results since its incorporation. cant revenue for Hisdesat. I would
Although the operational context like to make special mention of our
is still very demanding, Hisdesat Ministry of Defence and the Spanish
has continued to provide strategic Armed Forces, not only for having
services to its high-level clients with complete confidence in our system,
complete reliability. but also for their constant support
in our efforts to expand this system
At year end, total income stood to allied and friendly countries.
at 58.5 million Euros. Strategies
Miguel Ángel Panduro Panadero maintaining operational efficiency PAZ, our Earth Observation satellite,
CEO of Hisdesat remain in place, allowing us to show successfully passed the latest envi-
EBITDA of 41.3 million Euros. Mean- ronmental tests in Germany and we
while, net income totalled 24.0 mi- hope that it will shortly be launched
llion Euros, representing an increase into orbit. In addition, the constella-
of 6.6% over 2013. tion of radar satellites TerraSAR-X
/ PAZ, established together with
The company registered two spe-
our partner Airbus Defence and
cial elements in 2014 that allow it Space, will allow us to manage our
strengthen its foundations for the
future: on the one hand, there has common systems in a much more
been a reorganization of the assets complete and effective manner.
The result will be an increase in the
of its American subsidiary Xtar Llc,
more in line with the current market area of coverage of our satellites,
outlook and, on the other hand, we with clients benefiting from a more
demanding and reliable service. We
have been able to make use of a tax
are already in the process of signing
credit for investment made in R&D.
contracts with clients, signalling our
Our programmes and service offe- entry into this new and very inter-
rings continue to contribute stron- esting market filled with opportu-

10