Page 56 - hisdeSAT annual report 2016

4.3 BALANCE SHEET

AND INVESTMENTS

ANNU AL REPOR T 2 016 Tmostly associated with the Earth Ob- 14.2 million with respect to the end of 2015,

he firm has invested € 53.4 million,
due both to billing realised and to the clea-

te. At the same time, capitalisation of the
of € 10.4 million for Xtar Llc.
Canadian subsidiary exactEarth has been
Net equity stood at € 208.2 million, com-
• servation programme and the PAZ satelli- ring of outstanding balances to the amount
increased to a level which allowed Hisdesat pared to stock capital of € 108 million. The
HISDE S AT and position itself as its major shareholder financial position of the company is thus
to maintain a 27% share in the company
clearly positive, as the level of liquid assets
after the Canadian TSX market launch.
is greater than the debt figure. Levels of
In the current account, the most relevant
earlier, comprising the € 102.6 million rela-
news is the reduction of the balance of debt at year end were the same as a year
debtors and customers by approximately € ted to the PAZ programme.
56

® AIRBUS DS 2016