Dear shareholders,

It is an honour as President of HISPASAT to present you with the 2017 annual report, highlighting the most outstanding events in the course of the same.

This year we have continued working on the foundations to transform our business model, an initiative put forward at last year’s General Meeting of Shareholders. As you are no doubt aware, the satellite sector is undergoing far-reaching changes and as yet no clear picture has emerged as to the type of panorama awaiting us at the end of this process.

Nonetheless, we are mindful of the fact that in our hyperconnected world the satellite is a key player, both as a complement to other technologies as well as in those areas where no other connectivity solution is available. Indeed, this is a great advantage that sets us apart and represents an added value to our activity.

Moreover, HISPASAT has the added advantage of an extensive record of collaboration with clients and suppliers in the development of new designs and services, thereby affording us an excellent launch pad in this changing environment where pride of place must be given to the capacity to construct innovative solutions to speedily respond to new market demands.

Conscious as we are of these circumstances, we are making the most of the opportunities afforded by the technological revolution, the new forms of information consumption and the audiovisual content in the telecommunications sector. Accordingly, we are working on advanced solutions in areas such as mobility connection, 5G and the Internet of Things and, it goes without saying, on reducing the digital divide in those areas where the satellite is the only option and guarantee of equality of opportunity as regards access to the Information Society.

This new strategy is opening new channels of growth and development, to successfully exploit which, we have an experienced team of professionals in the field of innovation who are used to working in direct contact with clients and offering the requisite product flexibility to meet their needs.

Over the coming years we will continue to develop our activity along these lines, endeavouring to improve with each new day and to provide increasingly smarter and innovative solutions to benefit all our stakeholders. I am fully convinced that this great transformation in which we find ourselves immersed is only possible by moving forward hand in hand with the people who form part of the HISPASAT project.

Thanks to them, the trust placed in us by the Board of Directors and its support, our project will continue to be a success.