SATLANTIS’ REVENUES GREW BY 102% in 2022
On March 21, 2023, the Board of Directors of SATLANTIS MICROSATS formulated the best results in the company’s history. These figures are also supported by the audit carried out by KPMG for the second consecutive year.
SATLANTIS’ 2022 figures highlight more than 10 years dedicated to the research and development of very high-resolution miniaturized Earth Observation solutions, reaching 11.6 million euros in revenues.
Independent of institutional activities, which account for only 13%, the account reflects activities in the United Kingdom, the United States, Asia and the European Space Agency.
At the same time, the balance between finance, technology and market enabled SATLANTIS to close the year with an EBITDA of 32% and a net profit that made it possible to offset the results of previous years. The company has now had a loss-free EBITDA for five fiscal years.
The year 2022 was also a record year in terms of balance sheet strength. Last year, SATLANTIS closed the final tranche of a capital increase of EUR 24 million in Spain and USD 3.5 million in its U.S. subsidiary. The main shareholders which have invested in our company have been Encino Environmental Holdings LLC (investment vehicle of the gas company Williams, and the decarbonization funds Encap and BP Energy), ENAGAS, CDTI, SEPI and its reference shareholders, ICO, ORZA, the Basque Government, the Regional Government of Bizkaia and the University of Florida.
With shareholders’ equity of around 28 million Euros and cash of more than 20 million Euros, SATLANTIS has the necessary capacity for financing the main lines of its international business plan, while maintaining a very healthy financial structure.
In this way, SATLANTIS is also at the financial and commercial, not only technological, forefront of the space sector in Spain.
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