The Diplomat
Hispasat has generated a net profit of 46.8 million euros, slightly down on last year due to higher investments, and is considering further acquisitions in order to grow in 2023.
The satellite company’s CEO, Miguel Ángel Panduro, stressed in an interview with Europa Press that the company has managed to grow in a context in which the sector has fallen several points.
Hispasat has increased its revenues by almost 25% in constant rates, to almost 230 million euros, driven by organic growth of 4% and acquisitions.
Last year, the firm acquired US-based Axess Networks, a company specialising in satellite services and solutions for the corporate market, for 95 million euros.
The company contributed 28.5 million euros to the parent company Redeia and a loss of 1.2 million euros in the period accounted for within the group. For the full year, it had revenues of 66.3 million euros and posted losses of 2.84 million euros, according to Redeia’s annual financial report.
Looking ahead to 2023, the firm has been provisionally awarded the Único Demanda Rural affordable satellite connectivity service, a 93 million euro programme to subsidise internet access in remote areas for 35 euros a month.
In addition, following the successful launch of its Amazonas Nexus satellite, the company will generate additional new revenues from the second half of the year, when it starts providing service.
Panduro points out that this satellite alone has a capacity equivalent to half of the company’s entire fleet in orbit and already has 60% pre-contracted capacity.
On the other hand, the company is confident of participating in the major projects launched in the sector at European level, such as the IRIS2 satellite constellation, and is already a member of a project to install fixed communications on the moon. “It is a very important issue for us to once again be the Spanish benchmark in space,” Panduro stresses.
