Anabel Segura, 11
28108 Alcobendas / Madrid
España / +34 91 710 25 40
Open message from the President
Open message from the CEO
MENSSAGE FROM THE PRESIDENT
Dear shareholders,
In 2024 we consolidated the transformations initiated in 2023, a crucial year in which were launched the Amazon Nexus and the UNICO Rural Demand program. The foundations on which Hispasat’s future will be based have been laid.
In Spain, we have continued the rollout of this rural internet service, a pioneering program worldwide to bridge the digital divide. To this end, we have travelled throughout Spain, introducing it to town councils, companies and individuals.
In Europe, we are part of the consortium that signed the contract with the European Commission last December to manufacture and operate IRIS2. This is the secure satellite communications system that Europe is going to equip itself with, taking advantage of the possibilities offered by the use of orbits other than the geostationary one.
This program is also intended to redefine the industrial sector of European manufacturers. For this reason, the leadership role Hispasat will play in its design and implementation will be key for Spain.
In addition, we have continued to advance two other innovative projects to develop more advanced communications, such as the transition to 5G and quantum key distribution.
In Ibero-America, we have maintained very intense engagement with the region’s governments to understand and respond to their connectivity needs through strong partnerships that strengthen our leading position. All of this without forgetting the constant effort we make to consolidate our position with clients of all types and sizes in this region.
We’ve also opened up new markets of strategic interest to the company, but also to Spain and Europe, such as the connected schools project in Senegal.
Despite the nature of satellite communications being highly competitive and constantly changing, Hispasat is evolving and taking advantage of the opportunities offered by new technologies: increasingly getting closer to the end customer.
We are moving toward secure communications, once again acting as a driving force for Spanish industry. None of this would have been possible without the collaboration of our shareholders, who keep this project true to its identity and have supported us when we’ve faced challenges.
Thank you so much.
Pedro Duque
President of Hispasat
MENSAJE FROM THE CEO OF HISPASAT
Dear shareholders,
Since launching our strategic plan in 2020, we have set ourselves the goal of maximizing our traditional markets while positioning ourselves in others that would allow us to continue growing in the medium and long term.
Since then, the sector has undergone and continues to undergo a rapid transformation in which everything is changing completely. The most representative example of all this is the IRIS2 project.
Europe has understood that space is a vital area for defense and security and that it can also help revitalize its industrial fabric to generate strategic autonomy with the help of the private sector to remain competitive.
For this reason, I am proud to say that in December 2024, we signed, as part of the SpaceRISE Consortium, the agreement to launch IRIS2. This project aims to define the future of European satellite communications with a global reach. And we are confident that this will also bring about a new stage of transformation for our company at Hispasat.
Along with this great initiative, which we are working on with such enthusiasm, at Hispasat we have continued to develop our commercial activity in a context of enormous complexity, where we can say that we have maintained a good overall performance.
Specifically, we have achieved revenues of 238.7 million euros, which represents a 5.9% decrease compared to 2023. The operational efficiency measures implemented have allowed us to mitigate this impact on EBITDA, which in 2024 was 125.4 million, around half a percentage point less than in 2023.
Our situation is no different from that of other operators in the sector, who have recorded similar or even greater declines in revenue than ours. In this context, the company, with its commitment and desire to innovate, has been able to maintain its business and its main clients.
In parallel, we have continued working on the internal integration, transformation, and digitalization process, aimed at achieving greater operational efficiency and, ultimately, adapting our company to the new reality of the sector.
In short, 2024 ended with a panorama full of global uncertainty and enormous challenges ahead. Opportunities can also arise in this scenario. We find ourselves at a time and place where we must reinvent Hispasat so that, while maintaining its original purpose, it is capable of responding to the challenges of tomorrow. And I’m sure we will.
Miguel Ángel Panduro
CEO of Hispasat