$ 53 million, net profit printed for "Space 42" During the first half

1 day ago

3 minutes read

Abu Dhabi, August 7 / WAM / Space 42 announced its unified financial results for the first half of 2025, as the net profit printed reached 53 million dollars, in line with the same period last year, and the company also recorded a remarkable improvement in the profit margin.

“Space 42” concluded the first half of the year with cash liquidity and short -term deposits of 816 million dollars, supported by obtaining a new financing facilitation of $ 0.7 billion with guarantee of export credit agencies, and based on future contractual revenues estimated at $ 6.8 billion.

Karim Al-Sabbagh, Managing Director of “Space 42”, said that the results reflect the firm commitment to operational excellence and enhance the efficiency of institutional performance, and the momentum witnessed by the company confirms that the capabilities with double use achieve concrete commercial success and a strategic value at the same time, stressing that with the entry of the “Thuraya-4” satellite into commercial operation, enhancing the approach, enhancing the approach Institutional and continuing to improve operational efficiency, Space 42 is in an advanced location that qualifies it to achieve sustainable growth that keeps pace with market requirements.

On the company’s performance, space services recorded 2% growth in revenue on an annual basis during the second quarter of 2025, to reach 100 million US dollars, driven by a double-number growth in the oil and gas sector, and the unit provided a strong performance in the fields of safe communication and mobile communications services, and the unit’s growth is expected to accelerate during the second half of the year, with the start of commercial operation of the industrial moon “Al-Thuraya-4” which that Recently, it provides a set of new mobile communication services to meet the requirements of the defense and security sectors in addition to commercial applications.

The unit also made remarkable progress in the future project of the direct communication system between the “D2D” satellites, with the announcement of major achievements within this path during the second half of 2025.

Smart solutions continued to develop their capabilities in a systematic and studied manner, with expectations for new programs to implement during the second half of 2025.

“Smart Solutions” mainly focused on the manufacture and publication of the “Forsite” system, which consists of seven modern satellites for a distance from the “SAR” satellite constellation “SAR”, in parallel with the development of the advanced GIQ “GIQ” platform.

“Space 42” launched the first facility of its kind in the Middle East dedicated to the manufacture of radar satellites SAR, in partnership with the Abu Dhabi Investment Office, and this step enhances the sovereign capabilities of the state in the field of high-resolution satellite manufacturing, after the launch of the “Forsit-1” and “Forsit-2” satellites, which paves the way to expand the constellation of land monitoring satellites It enhances the range of coverage and monitoring rates.

The company has completed the construction work for the research, development and manufacturing facility for high -height platforms “Happy”, which will provide more than 20 drones annually, and the test of advanced loads for land monitoring and communications tasks has completed the fourth generation technology, to provide solutions that serve civil, environmental and defensive applications, in preparation for the full commercial launch by 2026.

The development and expansion of the GIC platform, which is the basic digital pillar for geomic intelligence solutions backed by artificial intelligence, continued, in partnership with the Emirates Space Agency, and the platform was launched in the Microsoft Azore store during the first half of the year, with plans to offer specialized solutions according to the sectors by the fourth quarter of 2025.

The company has made tangible progress in the partnership project with “space” and “Edge” to establish a national Gymnum system that opens the way for advanced specialized applications. The legal and operating frameworks of the project are expected to be completed by the fourth quarter of 2025.

The company has almost completely completed the “Al-Thuraya-4” admission review in preparation for the start of commercial operations during the third quarter of 2025, and the first and second quarter of the year witnessed the launch of the IP NEO data transmission and the “Al-Thuraya” broadcasting point of broadband “, with plans to launch additional products during the second half of the year.

The company continued to make remarkable progress in developing direct communication technologies between the devices and satellites “D2D”, in cooperation with “Fayas” company, where work is underway to establish an open unified structure that relies on the standards of the fifth generation and cover multiple orbits, allowing the launch of an expandable platform at the global level.

Main completion stations will be announced in this project during the second half of 2025.