Page 9 - hisdeSAT annual report 2016

tives and decide between them, a process
which was completed quickly and well. An
agreement was reached with the American
company Space X, at a cost and on terms
very advantageous for us - a good example
of the excellent work done by the Hisdesat
personnel involved. The launch is expected ensure compliance with legal regulations.
2017, possibly during November or Decem-
ber. We were able to do this because of our There have also been changes with regards PRE SENTATION
corporation’s financial strength, allowing us to the Board of Directors this year. We
to make quick decisions regarding this large would like to thank Antonio Cuadrado Rúa,
and unforeseen expenditure, and thus ensu- the representative for AIRBUS DEFENSE
ring the viability of the strategic PAZ satelli- AND SPACE, who has passed his responsi-
te programme. On the other hand, this has bilities on to Juan José Guillamón Frutos,
led to us becoming involved in arbitration to whom we extend a warm welcome. 9
against Kosmotras for breach of contract, a
process which is already under way in Paris. In short, we have begun 2017 not without
some difficulties – because storms take
The importance of Hisdesat in maritime some time to abate – but with horizons
tracking and information services has also opening up internationally and skies also
been strengthened, by becoming the main clearing on the national stage, so that im-
shareholder of the Canadian company proved weather and smoother sailing may
exactEarth, which, together with various be expected for the company. With our hi-
agreements and the launch of the first ten ghly trained complement of staff and our
Iridium NEXT satellites, opens the way for well-managed programmes, we believe
the development of new services and the that we will be able to up the speed or our
strengthening of our leadership in this im- annual results while still guaranteeing our
portant future market. safe arrival in port: covering the intelligen-
ce and communications satellite require-
And as for Xtar-Eur, we have worked with ments of National Security and Defence.
LORAL on a new strategy that is improving
our results. Finally, as Chairman of the Board of Directors
I would like take this opportunity to reitera-
Other improvements include the launch of te my commitment to all shareholders, and
our Code of Ethics, including a Programme to say that your faith in me, as well as my
for the Prevention of Criminal Risks. This, responsibilities in this position, fill me with a
along with our Whistleblower Channel, will great sense of honour and satisfaction.

Yours sincerely,

SANTIAGO BOLÍBAR PIÑEIRO
CHAIRMAN OF THE BOARD OF DIRECTORS