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Presentation                                      quency bands: X, Military Ka and UHF; and features impor-

                                                             tant technological innovations like active X-band antennas
           of the 2020                                       that are reconfigurable in orbit. These represent the biggest
                                                             challenge in terms of technological development and are led
           financial year                                    by the Spanish Space industry with Airbus DS System Spain
                                                             at the helm.

                                                             It is important to highlight the boost Hisdesat provides for
           The 2020 financial year was again very positive both quanti-  the national Space industry with all its programmes, and
           tatively and qualitatively, despite the operational difficulties   even  more  so  with  SPAINSAT  NG.  The  direct  participation
           that the extraordinary situation created by the COVID-19   of Spanish industry in the satellites is greater than 40%. It
           pandemic imposed upon us.                         is responsible for all payloads, with TAS Spain taking care of
                                                             the UHF and Ka military band payloads and Airbus DS Sys-
           In this context, I would like to highlight the work carried out   tem Spain developing the X-band payload.
           by the State Security Forces and Corps and by our Armed
           Forces during this crisis. We felt completely aligned with   Additionally, operation of the PAZ synthetic aperture radar
           their goals, and proud of our modest contribution to their   satellite has continued during 2020, which has made it pos-
           mission through technological assistance. From the begin-  sible to meet the operational objectives of the Spanish Minis-
           ning of Operation Balmis, a glorious evocation of the first   try of Defence and other clients that have continued joining
           international health mission in history that saved millions of   the system. During the year we completed the modifications
           lives, Hisdesat has provided our capabilities free of charge to   to the ground segment which were necessary for the incor-
           the Government of Spain via the Ministry of Defence. These   poration of the new radar observation modes: very high re-
           included countrywide secure satellite communications to su-  solution Staring Spotlight with a pixel size of up to 25 cm,
           pport the Operation, which meant that units of the UME, the   and Wide Scan SAR with a large image width reaching 270
           Army, the Navy and the Air Force could be deployed in the   km. This has opened up greater commercial opportunities
           various cities of our country and assist citizens everywhere.  and will continue doing so for the coming years, for instance
                                                             with SATCEN and EMSA.
           Looking at our income statement, the 2020 results are bet-
           ter than expected – mainly due to higher income and savings   Advances in the PAZ-2 programme, the future replacement
           in operating expenses, which at € 57, 67 million euros has led   of the current one, have been of special relevance.  Work
           to a higher EBITDA than the budgeted € 49.64 million euros   towards  completing the preliminary  stages for  the imple-
           and represents an increase of 8 million euros.    mentation of the programme has continued both interna-
                                                             lly and with the Ministry of Defence. In the second half of
           From a qualitative point of view, the SPAINSAT NG program-  the year an RFI was issued to national industry players, thus
           me  has  progressed  in  line  with  its  planning,  successfully   enabling progress in the definition of the new satellite, with
           achieving the PDR (Preliminary Design Review) milestones   Airbus DS System Spain at the helm.
           for the payloads and all components, including the Pacis 3   At the end of the year, and in conjunction with the entire
           elements (DRA antennas, military Ka-band pallet and an-  national industry, Expressions of Interest were prepared for
           tennas, and system-level X-band payload), as well as the full   the development of two pivotal programmes: PAZ-2 (very
           satellite PDR. The loan granted by the Ministry of Industry,   high resolution radar) and MARCO-1 (Very High Resolution
           Commerce and Tourism has continued to be used to finance   Optical Component). This was initiated by the Ministry of In-
           the programme. The entire Hisdesat staff continues to be   dustry, Commerce and Tourism calling for possible leading
           highly motivated and excited to be carrying out this complex   programmes as part of the European Recovery, Transfor-
           programme with a large R&D component over the next 4   mation and Resilience Funds. These are programmes that,
           years. Without a doubt, with our good work and that of all   in addition to helping our Space industry to recover and
           the industries accompanying us in this programme, we will   transform, will contribute to the digitisation and monitoring
           achieve the desired success.                      of Spanish, European and world territories and to environ-
                                                             mental surveillance.
           This is the most strategic project of the company since its
           foundation, due to run for the next 19 years. It will replace   Also during 2020 and in order to ensure continuity for Mi-
           the current secure communications satellites SpainSat and   nistry of Defence secure satellite communications, the
           XTAR-Eur, and provide greater capacity, flexibility, security   XTAR-Eur satellite was purchased. This satellite has already
           and resilience for the satellite communications of the Spani-  reached its nominal lifespan of 15 years, but reserve prope-
           sh Armed Forces and other national and international clients   llant remains that will allow extending its lifespan in orbit
           including NATO, the European Union (as part of the GOVSAT-  by nearly two more years. Lifespan extension studies were
           COM programme), and other allied and friendly countries   continued by means of a space vehicle that was coupled to
           such as the US, Portugal, Norway etc. The SPAINSAT NG   XTAR-Eur in order to analyse the various solutions that are
           satellites comprise three missions in three simultaneous fre-  currently under consideration.


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