Page 56 - hisdeSAT annual report 2014

Hisdesat in figures

5.1 The Financial Year

in Perspective

During 2014, HISDESAT has main- In addition to this, HISDESAT, as the
tained a high level of movement. entity responsible for the launch
Business activity was in line with and operation of PNOTS (the Na-
previous years, and in fact the com- tional Plan for Earth Observation
pany registered its highest figures by Satellite), is developing Earth
ever. Although the operational con- Observation via the Paz and Inge-
text is still very demanding, Hisdesat nio satellites, scheduled for launch
has continued to provide strategic in 2015, as a new business area.
services to its high-level clients with
complete reliability. The range of Hisdesat’s activities,
currently comprising secure sate-
At year end, total income stood at llite telecommunications and soon
58.5 million € (57.7 million € from to be complemented with radar
services). Strategies maintaining and optical imagery, also includes
operational efficiency remain in an AIS service for tracking ships by
place, allowing us to show EBITDA of satellite, thus forming an innovative,
41.3 million €. Meanwhile, net inco- comprehensive and differentiated
me totalled 24 million €, represen- portfolio of services in the areas of
ting an increase of 6.6% compared Security and Defence.
to the figure recorded in 2013.

The financial situation of the com-
pany has strengthened, both in
® SPOT 5 2007 terms of an improvement the net
financial position (cash less debt),
and in terms of equity, which rea-
ched 239.4 million €. Cash flow of
36.1 million € was generated, per-
mitting us to reduce debt to 122
million €.

Communications are currently rou-
ted through the SpainSat satellite
in constellation with Xtar-Eur, with
the aim of providing satellite com-
munications of a strategic nature
to government, and in particular to
the areas of Security and Defence.

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