Page 13 - Memoria 2021

Informe Anual 2022 | Annual Report 2022
Presentación | The Company

From a contractual point of view with the Spanish These achievements would not have been possible
Ministry of Defense and after completing a bid audit without the trust placed by our customers in our
in September of 2021, a maximum price was set for secure satellite communications capabilities, Earth
the LEZO contract of 39 million euro from 24 April radar observation and maritime surveillance with
2021 to 31 December 2024, significantly lowering the satellite AIS. I would like to especially highlight the
provisional price as a result of not implementing the support received by the Spanish Ministry of Defense
service life extension mission. and Armed Forces, not just for being the primary
users of our systems, but also for the defense and
Lastly, investee companies exactEarth, Xtar and promotion they do every day for Hisdesat and our
Airbus DS GEO SGSA have reasonably adjusted their space systems in different international scenarios.
expectations, thus satisfying Hisdesat’s budget.
I would like to thank our company’s Board of Directors
Returning to the income statement, financial year 2021 for the support and trust they have placed in me,
has been very positive. Revenue reached 54.91 million whom I hope will not be disappointed. Finally, I would
euro, with an improvement of 2.75 million, decreasing like to thank the most important asset of Hisdesat,
with respect to previous years by complying with the its personnel, to whom I would like to express my
agreement reached with the Ministry of Defense recognition of their effort and permanent commitment
in the 2001 Framework Agreement, and given that with the company, in a second year that became
the amortizations of the current communication extremely complicated as a result of the restrictions
satellites have nearly been realized. imposed by the pandemic. Without their abilities and
daily efforts, we would not have achieved our goals or
On the other hand, the expected revenue in the consolidated ourselves as a multi-mission operator in
growing business plan of the PAZ program has been secure satellite communications, Earth observation via
achieved. New customers have been incorporated satellite and maritime surveillance via satellite AIS.
such as: EMSA (European Maritime Safety Agency)
in SAT-AIS and images; SATCEN (Satellite Center of
the European Union), to which images have already
been provided during the entire year; ESA with Third
Party Mission Copernicus with special support for
monitoring the Cumbre Vieja volcano in La Palma;
additional secure communications for the Portuguese Miguel Ángel García Primo
Ministry of Defense; satellite communications of the CEO of Hisdesat
Predators of the Ministry of Defense; the Support
System for personnel in the SAPZO Operations
Area with new detachments and Navy ships; secure
communications in the DGAM Operations Area, but
only until April; and several new customers with
the PAZ/TerraSAR-TanDEM-X constellation, through
Airbus. Operating costs have been kept stable, with
savings in practically all items. With everything,
the EBITDA reached 56.16 million euro, 26.7 million
more with respect to our forecast due to ordinary
improvements and the extraordinary sale of
exactEarth shares to Spire. The financial result was
-1.47 million euro, 3.6 million worse than the budget.
Finally, the net result reached 28.39 million euro,
26.24 million more than what was budgeted. During
2021, the workforce slightly increased, exceeding 70
employees.

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