On March 21, the Board of Directors of SATLANTIS MICROSATS presented the company’s results for the year 2023.
These figures continue to show a significant increase in the company’s commercial activity compared to previous years and are also backed by the audit conducted by KPMG for the third consecutive year. SATLANTIS’ 2023 figures highlight over 11 years dedicated to the research and development of miniaturized, high-resolution Earth observation solutions, reaching 17.8 million euros in revenue, representing a 55% growth compared to the previous period.
With only 33% of its activity coming from institutional sources, the company’s accounts reflect activities in the United Kingdom, United States, Asia, and the European Space Agency.
SATLANTIS achieves its first commercial milestone in the United States through the sale of capacity to ES Satellite Ventures, a BP Energy Partners group company, for methane detection.
The execution of projects in 2023 follows the trajectory of 2022, resulting in a growth of over 55% to 17.8 million euros in revenue, 3 million euros in EBITDA, and 2 million euros in net income after taxes. This represents more than tripling the turnover achieved in 2021, just 2 years ago.
In 2023, SATLANTIS also continued to strengthen its balance sheet. In addition to incorporating all profits into reserves, the company closed a new round of capital expansion in the United States to give greater weight to the University of Florida and boost GATORSAT.
It also carried out a round of bank financing totaling 12 million euros.
With equity of nearly 30 million euros and available cash of over 26 million, SATLANTIS has the necessary capacity to finance the main lines of its international business plan while maintaining a very healthy financial structure.
The company’s CEO, Juan Tomás Hernani, stated that
“these accounts are, first and foremost, a message of reassurance for our customers in Europe, the United States, Asia, and Africa, because they need innovative but sustainable partners, capable of long-term alliances for good growth and financial health, something not so common in the New Space industry.”
Furthermore, the first operation of its international deployment strategy “by Satlantis” has been executed, with the UK company Super Sharp, specialized in thermal detection cameras, which presents significant technological synergies. Additionally, SATLANTIS has opened a subsidiary in France, from which it intends to address new technological developments in image processing and participate in commercial projects in the French market.
Success in the USA and Europe in achieving the measurement and quantification of methane emissions, with two of its satellites, reconciles it with the investments of gas companies ENAGAS and WILLIAMS/ENCINO in its capital two years ago, placing it in a unique position internationally.
The company currently has three 16U satellites in flight, three cameras launched on third-party missions, two 115 kg microsatellites under construction equipped with eight cameras, two additional scientific missions, one lunar and one for dark matter (ARRAKIHS), and four Defense projects executed and ongoing.
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