Latest news with #SmartSolutions
Mid East Info
5 days ago
- Business
- Mid East Info
Space42 Delivers Resilient H1 2025 Performance - Middle East Business News and Information
Sustained operational optimization, focused capabilities and strategic execution drive resilient H1 performance and higher profit margins Abu Dhabi, UAE, August 2025: Space42, the UAE-based AI-powered SpaceTech company today announced its consolidated financial results for the first half of 2025. The company seamlessly integrates satellite communications, geospatial analytics, and artificial intelligence capabilities for customers globally, and is listed on the Abu Dhabi Securities Exchange under symbol SPACE42 (ISIN: AEE01122B228). In H1 2025 Space42 delivered a resilient performance with normalized net profit of USD 53 million, in line with prior period and an increased margin, demonstrating strong operational optimization and strategic execution. The Company closed the period with USD 816 million in cash and short-term deposits and a newly secured USD 0.7 billion ECA-backed funding facility, underpinned by contracted future revenues of USD 6.8 billion and substantial progress across each of its four strategic pillars. Karim Sabbagh, Managing Director of Space42, commented: 'H1 2025 demonstrates our commitment to operational excellence and capability building. The momentum across our platform shows that our dual-use capabilities deliver both commercial success and strategic value. With Thuraya-4 entering commercial operation and our programmatic approach taking hold, combined with sustained optimization, we're positioned for growth aligned with market demand.' Space Services Gains Market Momentum Space Services achieved 2% year-on-year revenue growth in Q2 2025, reaching USD 100 million, driven by double-digit expansion in the Oil & Gas segment. The business performed strongly across secure communications and mobile satellite services domains, firmly benefiting from the drive for secure and sovereign communications capabilities in the UAE. The company anticipates this drive to continue in the medium to long term. Growth is set to accelerate in the second half of 2025 as the recently launched Thuraya-4 satellite starts commercial operations, offering several new mobile satellite services for defense and security as well as commercial applications. These capabilities are increasingly relevant in the context of recent regional events. Space Services also made significant progress in the direct-to-device future space system with key milestones to be announced in H2 2025. Smart Solutions Accelerates Manufacturing and Platform Capabilities Smart Solutions, whilst underperforming due to the timing of multi-year engagements it is firmly seeding, continued to build programmatic capabilities with new programs expected to come online in the second half of 2025. Its primary focus is to manufacture and deploy the Foresight system, comprising seven latest-generation Earth observation SAR-based satellites whilst continuing to advance the development of its GIQ geospatial analytics platform. This is now deployed on the Microsoft Azure Marketplace to address a global market of growing requirements for dual-use geospatial information and insights. These capabilities received the Future Fit seal from the UAE Government under the umbrella of the UAE Space Agency, recognizing their significance to Space42 and to the UAE. Delivering Across Four Strategic Pillars Space42 continued to drive momentum across its four strategic pillars: Preferred Partner for Premium Geospatial Data Launched the Middle East's first dedicated commercial Synthetic Aperture Radar (SAR) satellite manufacturing facility, in partnership with the Abu Dhabi Investment Office (ADIO). The facility enables sovereign manufacturing of high-resolution satellites following the launch of Foresight-1 and Foresight-2, laying the foundation for a scalable Earth Observation constellation that strengthens coverage and revisits rates Completed construction of High-Altitude Platform Systems (HAPS) manufacturing and R&D facility, set to deliver more than 20 unmanned aerial vehicles annually and finalized testing of advanced earth observation and 4G communication payloads, supporting civil, environmental, and defense applications with full commercial roll-out expected by 2026 MoU signed with Microsoft and Esri to deliver the Map Africa Initiative, a five-year program to produce the first high-resolution, AI-powered base map covering all 54 African countries. This unlocks new opportunities in infrastructure, logistics, renewable energy, and smart cities while strengthening Space42's position as the partner of choice for future national geospatial programs Continued scaling and development of the GIQ platform, the digital backbone for AI-powered geospatial intelligence, in partnership with the UAE Space Agency. Launched on Microsoft Azure marketplace in H1 ahead of full commercialization and roll-out of industry specific solutions by Q4 2025 Received prestigious Future Fit Seal by the UAE Government Development and Future Office in recognition of Space42's differentiated capabilities and innovation Advanced Joint Venture between Space42, FADA, and EDGE, to establish a national geospatial ecosystem and unlock a range of downstream applications. Legal and operational framework expected to be finalized by Q4 2025 Developing leading AI-integrated capabilities, including advanced Command and Control systems, unmanned platforms and sensing technologies that can be deployed to strengthen national infrastructure Substantially completed in-orbit testing of recently launched Thuraya-4 satellite with commercial operations expected to start in Q3 2025, bringing wider coverage, faster speeds, and enhanced capabilities across a portfolio of 16 new products. Flagship products, such as IP Neo Broadband and Thuraya Broadband Hotspot, were already launched in Q1 2025 and Q2 2025 respectively with further launches planned for the second half of 2025 Continued progress in direct-to-device (D2D) future space system, in partnership with Viasat, establishing a shared multi-orbit standard-based 5G NTN open architecture and a globally scalable platform. Key milestones planned to be announced in H2 2025 Al Yah 4 and Al Yah 5 satellite program, on schedule and within budget, with Preliminary Design Review substantially complete and Critical Design Review underway. These assets will enhance national secure communication capabilities across defense and civil domains and are supported by a USD 5.1 billion, 17-year government contract which will start to generate USD 300 million of annual revenues from Q4 2026 onwards Metric Result Revenue USD 226 million (-17% YoY) Normalized EBITDA USD 112 million (-14% YoY); margin up 2pp to 49% Normalized Net Profit USD 53 million (in line with H1 2024); margin up 4 pp to 23% Cash CapEx USD 109 million Cash / Short-Term Deposits USD 816 million Negative Net Debt USD 478 million Net Leverage Ratio -1.8x Contracted Future Revenues USD 6.8 billion The complete financial disclosures are available in the Investor Relations section of Space42's website at . About Space42: Space42 (ADX: SPACE42) is a UAE-based AI-powered SpaceTech company that integrates satellite communications, geospatial analytics and artificial intelligence capabilities to enlighten the Earth from space. Formed in 2024 by the successful merger of Bayanat and Yahsat, Space42's global reach allows it to address the rapidly evolving needs of its customers in governments, enterprises, and communities. Space42 comprises two business units: Space Services and Smart Solutions. Space Services focuses on upstream satellite operations for both fixed and mobility satellite services. Smart Solutions integrates geospatial data acquisition and processing with AI to inform decision-making, enhance situational awareness, and improve operational efficiency. Major shareholders include G42, Mubadala, and IHC. Legal Notice and Cautionary statement regarding forward-looking information This announcement may contain forward-looking statements based on current expectations and assumptions about future events. These statements—identified by terms such as 'expect,' 'will,' or similar—are subject to risks and uncertainties and may prove inaccurate. They reflect information available as of the date hereof, and the Company disclaims any obligation to update them. No assurance is given that any forward-looking statement will occur, and undue reliance should not be placed on them. This announcement does not constitute a financial promotion or an offer to buy or sell securities in any jurisdiction.
Broadcast Pro
5 days ago
- Business
- Broadcast Pro
Space42 reports $53m profit in H1 2025
Continuous operational improvements, targeted capabilities and strategic execution deliver resilient H1 performance with increased profit margins. Space42 has announced its consolidated financial results for the first half of 2025, posting a normalised net profit of $53m, matching its performance in the prior period while improving margins. The results reflect strong operational efficiencies and the successful execution of the companys long-term strategy. As of June 2025, Space42 holds $816m in cash and short-term deposits and has secured a $0.7bn ECA-backed funding facility. Backed by contracted future revenues of $6.8bn, the company reported substantial progress across its four strategic pillars, underlining a robust and diversified growth trajectory. Karim Sabbagh, Managing Director of Space42, commented: 'H1 2025 demonstrates our commitment to operational excellence and capability building. The momentum across our platform shows that our dual-use capabilities deliver both commercial success and strategic value. With Thuraya-4 entering commercial operation and our programmatic approach taking hold, combined with sustained optimization, we're positioned for growth aligned with market demand.' In Q2 2025, the Space Services division achieved 2% year-on-year revenue growth, reaching $100m. This was primarily fueled by a strong performance in the Oil & Gas segment and increased demand for secure and sovereign communications in the UAE. With Thuraya-4 entering commercial service in the second half of the year, the company expects growth to accelerate, supported by new mobile satellite offerings for defense, security and commercial use. Additionally, Space Services advanced its direct-to-device satellite system, with further milestones expected in the coming months. Although Smart Solutions underperformed due to the timing of multi-year contracts, the unit laid solid groundwork for future growth. It continued to focus on manufacturing and deploying the Foresight satellite system, comprising seven Earth observation satellites, and expanding the GIQ geospatial analytics platform, which was launched on the Microsoft Azure Marketplace. The UAE Government awarded these dual-use capabilities the Future Fit seal, underscoring their strategic value to the countrys space sector. The company made major strides across its strategic pillars. As a preferred partner for geospatial data, Space42 launched the Middle Easts first commercial SAR satellite manufacturing facility in partnership with ADIO and completed construction of its High-Altitude Platform Systems (HAPS) facility, expected to produce over 20 UAVs annually. These platforms are designed to support civil, defense and environmental applications. A memorandum of understanding was also signed with Microsoft and Esri to launch the Map Africa Initiative, a five-year programme to create a high-resolution, AI-powered base map for all 54 African nations. This will help unlock new opportunities in infrastructure, smart cities, renewable energy, and logistics. As a global leader in geospatial intelligence AI platform services, Space42 continued scaling its GIQ platform in collaboration with the UAE Space Agency. Full commercial rollout of industry-specific solutions is set for Q4 2025. The company also advanced a joint venture with FADA and EDGE to establish a national geospatial ecosystem, with the legal and operational framework expected to be finalized by year-end. In the area of non-terrestrial connectivity, in-orbit testing of the Thuraya-4 satellite is nearing completion, with commercial operations scheduled to begin in Q3 2025. The satellite will deliver expanded coverage and faster data speeds across 16 new products, including recently launched IP Neo Broadband and Thuraya Broadband Hotspot. The company also progressed on its direct-to-device initiative with Viasat, working to establish a shared, scalable, 5G NTN open architecture platform. Space42 also advanced its position as a trusted leader in secure connectivity. The Al Yah 4 and Al Yah 5 satellites are on schedule and within budget, with major design reviews underway. These satellites, supported by a $5.1bn, 17-year government contract, will strengthen secure communication infrastructure and are expected to generate $300m in annual revenues starting Q4 2026. Space42s first-half performance in 2025 signals strong alignment with global demand for resilient and secure space-based capabilities, setting the stage for accelerated growth in the second half of the year.
Globe and Mail
24-07-2025
- Business
- Globe and Mail
Jamieson Wellness Inc. Announces Date of Second Quarter 2025 Financial Results and Conference Call
Jamieson Wellness Inc. ("Jamieson Wellness" or the "Company") (TSX:JWEL) announced today that the Company will release its second quarter 2025 financial results after the market close on Thursday, August 7, 2025. The Company will host a conference call for investors at 5:00 p.m. Eastern Time to discuss the second quarter 2025 results. The call can be accessed live over the telephone by dialing 1-800-717-1738 from Canada and the U.S. or 1-646-307-1865 from international locations. A replay will be available shortly after the call and can be accessed by dialing 1-844-512-2921 from Canada and the U.S. or 1-412-317-6671 from international locations. The passcode for the replay is 11194128 and it will be available until Thursday, August 21, 2025. Interested parties may listen to a simultaneous webcast of the conference call by logging on via the Investor Relations section of the Company's website at or directly at A replay of the webcast will be available for approximately 30 days following the call. About Jamieson Wellness Inc. Jamieson Wellness is dedicated to Inspiring Better Lives Every Day with its portfolio of innovative natural health brands. Established in 1922, the Jamieson brand is Canada's #1 vitamins, minerals and supplements ('VMS') brand. The Company's youtheory brand, acquired in 2022, is an established and growing lifestyle brand in the U.S. Combined, these global brands are available in more than 50 countries worldwide. The Company also offers a variety of innovative VMS products as well as sports nutrition products to consumers in Canada with its Progressive, Smart Solutions, Iron Vegan and Precision brands. The Company is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information please visit Jamieson Wellness' head office is located at 1 Adelaide Street East Suite 2200, Toronto, Ontario, Canada.
National Post
24-07-2025
- Business
- National Post
Jamieson Wellness Inc. Announces Date of Second Quarter 2025 Financial Results and Conference Call
Article content TORONTO — Jamieson Wellness Inc. ('Jamieson Wellness' or the 'Company') (TSX:JWEL) announced today that the Company will release its second quarter 2025 financial results after the market close on Thursday, August 7, 2025. The Company will host a conference call for investors at 5:00 p.m. Eastern Time to discuss the second quarter 2025 results. Article content The call can be accessed live over the telephone by dialing 1-800-717-1738 from Canada and the U.S. or 1-646-307-1865 from international locations. A replay will be available shortly after the call and can be accessed by dialing 1-844-512-2921 from Canada and the U.S. or 1-412-317-6671 from international locations. The passcode for the replay is 11194128 and it will be available until Thursday, August 21, 2025. Article content Interested parties may listen to a simultaneous webcast of the conference call by logging on via the Investor Relations section of the Company's website at or directly at A replay of the webcast will be available for approximately 30 days following the call. Article content About Jamieson Wellness Inc. Article content Jamieson Wellness is dedicated to Inspiring Better Lives Every Day with its portfolio of innovative natural health brands. Established in 1922, the Jamieson brand is Canada's #1 vitamins, minerals and supplements ('VMS') brand. The Company's youtheory brand, acquired in 2022, is an established and growing lifestyle brand in the U.S. Combined, these global brands are available in more than 50 countries worldwide. The Company also offers a variety of innovative VMS products as well as sports nutrition products to consumers in Canada with its Progressive, Smart Solutions, Iron Vegan and Precision brands. The Company is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. For more information please visit Article content Article content Article content Article content Contacts Article content Article content Article content
BBC News
07-07-2025
- BBC News
Man killed at Biffa Bradford site by reversing lorry
A man died after being hit a reversing lorry at a Biffa waste management site in Bradford, an inquest jury has been told. James Tabiri, 57, was struck by the vehicle at the company's site in Peace Street on 10 August inquest into Mr Tabiri's death started earlier at at Bradford Coroner's the events on Assistant coroner Ian Pears told jurors: "James was working at the site of Biffa and he came into contact with a as a result of that impact, died." The inquest was told Mr Tabiri was born in Ghana but had moved to Bradford to live with his wife's family in the years before the a statement his family said they had found out about his death via social media, saying that it was "harrowing" to discover the tragedy in such a went on to say his death had had "an adverse affect on [his wife] Joyce,"During the hearing jurors were shown CCTV images of the incident from cameras on the worksite as well as taken from the footage showed Mr Tabiri - who was employed by contactor Smart Solutions Recruitment - wearing an orange hi-vis jacket as he walked across the was seen to be reading a logbook before he was hit by the evidence, operations excellence director at Biffa, Barry Crews said there was a sensor on the back of the lorry, but said they are generally used for identifying large containers rather than pedestrians. "It is to allow the driver to know when he is close to the container," Mr Crews said, adding that the camera helps the driver to line up the container and then attach it to the inquest continues. Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North.
