Page 66 - hisdeSAT annual report 2015

HISDE S AT ANNU AL REPOR T 2 015

5.4

INVESTMENT

ACTIVITY

In 2015, investments to the value of €9.1M were
realised, including €2.3M for the aforementioned
acquisition of the Xtar control station, and the
capitalisation of expenses related to the setup
and maintenance of the PAZ ground segment.

With regard to financing, it is worth noting that
in 2015 a final payment of €19.4M has fully amor- Moreover, the item Loans to
tised the €190M debt taken on to finance the Group Companies reflects
acquisition of the PAZ satellite and our partici- an increase of €4.6M for a
pation in Xtar. At year end, total debt balance year-end balance of €7.3M.
stood at €102.6M, all of it corresponding to the This is as result of additional
PAZ satellite. corporate financing contri-
butions made to our Cana-
dian subsidiary exactEarth.

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