Latest news with #SpaceTech
Zawya
5 days ago
- Business
- Zawya
Space42 delivers resilient H1 2025 performance
Abu Dhabi, UAE: 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 Global Leader in Geospatial Intelligence AI Platform Services 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 Global Non-Terrestrial Connectivity (NTN) Leader 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 Trusted Leader in Secure Connectivity 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 Financial Highlights 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 The financial information presented in this press release has been prepared on a pro forma basis. This has been done to facilitate like-for-like comparison of financial performance of the combined Company. For investor enquiries, please contact: ir@ For media enquiries, please contact: media@ 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.
Al Etihad
6 days ago
- Business
- Al Etihad
Space42 reports net profit of $53 million in H1 2025
7 Aug 2025 00:40 ABU DHABI (ALETIHAD)Space42, ADX-listed SpaceTech company, reported a stable performance for the first half of 2025, achieving a normalised net profit of $53 million—matching its result from the same period last year, but with improved margins. Despite a 17% year-on-year decline in revenue to $226 million, the company demonstrated operational resilience with a 4-percentage-point increase in profit margin, reaching 23%.EBITDA for the period stood at $112 million, down 14% from H1 2024, though margins rose by 2 percentage points to 49%.Space42 closed the half-year with a robust liquidity position, holding $816 million in cash and short-term deposits. The company also secured a $0.7 billion Export Credit Agency-backed financing facility, backed by a substantial $6.8 billion in contracted future expenditure reached $109 million, while the firm maintained a negative net debt position of $478 million and a healthy net leverage ratio of - on the results, Karim Sabbagh, Managing Director of Space42, said: '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 optimisation, we're positioned for growth aligned with market demand.'The company's Space Services segment grew 2% year-on-year in Q2 2025, generating $100 million in revenue, with notable expansion in the oil and gas Solutions, while impacted by the phasing of long-term projects, continued to scale up manufacturing and analytics capabilities, positioning itself for stronger performance in H2. Space42 was formed in 2024 by the merger of Bayanat and Yahsat. Major shareholders include G42, Mubadala, and IHC. Source: Aletihad - Abu Dhabi
CTV News
31-07-2025
- Science
- CTV News
First Australian-made rocket crashes after 14 seconds of flight in a failed attempt to reach orbit
In this photo provided by Gilmour Space Technologies an Eris rocket is launched on Wednesday, July 30, 2025, near Bowen, Australia. (Gilmour Space Technologies)
Gulf Business
30-07-2025
- Business
- Gulf Business
Space42, Microsoft, Esri to expand mapping capabilities across Africa
Image: Supplied UAE-based AI-powered SpaceTech firm The five-year initiative, called the 'Map Africa Initiative', aims to support more than 1.4 billion people by improving access to geospatial data and intelligent solutions across the continent. Announced at the 2025 Esri User Conference, the partnership will address long-standing gaps in infrastructure, investment and data availability by producing the continent's most comprehensive mapping database to date. The effort is designed to catalyze economic development through improved information flow to governments, businesses and communities. 'Partnership is core to the UAE's DNA, and is central to how Space42 operates,' said Hasan Al Hosani, CEO of Smart Solutions at Esri president Jack Dangermond said, 'We are proud to support the Map Africa Initiative in partnership with Space42. Transforming satellite imagery into detailed, accurate base maps at continental scale requires advanced geospatial technology and professional production workflows.' How Space42, Esri and Microsoft will fill the mapping gap Africa's maps are often fragmented, outdated or inaccessible, leaving key decision-makers without accurate data. The Map Africa Initiative aims to change that by generating continent-wide geospatial data that is timely, accurate and managed locally. Space42 will lead the project's fundraising and coordination, provide satellite data, and use AI-powered digital twin models to process and tailor outputs. It will also drive the R&D roadmap for AI models and automated map production. Esri will oversee base map production using its GeoAI and remote sensing capabilities, while helping train local teams to sustain mapping efforts in the long term. Microsoft will provide cloud infrastructure and AI support through its Azure platform to enable large-scale data sharing and processing. Sector-wide impact The mapping initiative is expected to benefit several key industries, including: Ports and logistics: Enhanced terrain mapping will support route planning and reduce inefficiencies. Renewable energy: Improved site selection for solar and wind projects. Security and disaster response: Better monitoring of borders and natural resources, improved emergency response coordination. Smart cities: Foundational data for urban planning, service delivery and digital economy growth. The mapping data will be licensed to national governments, with local agencies responsible for long-term updates. A commercial ecosystem is expected to emerge, powered by African startups, with data hosted in G42 and Microsoft-managed centres across the continent. Strategic importance For Space42, the MoU strengthens existing ties with Microsoft and Esri, expands its footprint in Africa, and opens new revenue streams in analytics and licensing. It also reinforces Space42's positioning as a key partner for governments in delivering scalable geospatial data solutions. 'This partnership is a decisive step toward closing the intelligence gap,' said Peng Xiao, group CEO of G42. 'Together with our partners, we will deliver AI-powered insights that enable African nations to plan smarter, build better, and grow more sustainably.' Xiao added that the collaboration with Microsoft highlights a joint commitment to leveraging AI responsibly to benefit underserved communities. UAE's growing footprint The initiative aligns with the UAE's broader strategic interests. The UAE was Africa's largest foreign investor in 2024, with $44bn in capital deployed, nearly matching the combined investments of the UK and China. As the UAE's national space entity, Space42 plays a key role in exporting data-driven development tools and fostering knowledge transfer between the UAE and Africa. The effort supports the UAE's ambitions to lead in AI-enabled space solutions, while creating new opportunities across both regions in areas like infrastructure, smart cities and public services.
Gulf Business
30-07-2025
- Business
- Gulf Business
Space42, Microsoft, and Esri launch initiative to digitally map all of Africa
Image: Getty Images Space42, the UAE-based AI-powered SpaceTech company under technology group G42, has signed a Memorandum of Understanding (MoU) with Microsoft and Esri to launch the Map Africa Initiative, a groundbreaking effort to produce the most comprehensive base map of the African continent. The project will span all 54 African countries and serve more than 1.4 billion people, delivering high-resolution, scalable maps designed to close infrastructure, investment, and institutional data gaps. The initiative, which was unveiled during Hasan Al Hosani, CEO of Smart Solutions at Space42, commented: 'Partnership is core to the UAE's DNA, and is central to how Space42 operates. This collaboration with Microsoft and Esri is more than technical; it's strategic. It advances Space42's business priorities, strengthens our role as a trusted partner to governments, and delivers meaningful benefits to communities across Africa. Accurate, high-quality mapping and the intelligence solutions built on it are essential for growth, resilience, and inclusive innovation. With reliable data, communities and economies prosper.' The mapping process will be a fully integrated effort among the three partners. Space42 will lead the initiative's fundraising, project management, and data provision through sovereign and commercial satellite sources. It will apply AI-powered Digital Twin models to process the data and deliver dynamic, sector-specific outputs, while also driving the research and development agenda for new AI models and automation technologies in map production. Jack Dangermond, Esri and Hasan Al Hosani, Space42 Esri will manage the base map production workflows by leveraging its GeoAI and remote sensing tools. The company will also support the establishment of regional hubs across Africa to train local talent and build long-term capacity. Meanwhile, Microsoft will provide secure cloud infrastructure and an AI framework through Azure, enabling the seamless processing, sharing, and integration of data at scale. Read: Jack Dangermond, president of Esri, said: 'We are proud to support the Map Africa Initiative in partnership with Space42. Transforming satellite imagery into detailed, accurate base maps at continental scale requires advanced geospatial technology and professional production workflows. These same capabilities have supported similar national and regional mapping efforts around the world. With Map Africa, we are helping to establish a foundational resource that will drive infrastructure planning, economic growth, and sustainable development across the continent.' The Map Africa Initiative The Map Africa Initiative responds to widespread concerns over fragmented, outdated, or inaccessible geospatial data across Africa. By producing accurate, timely, and locally managed mapping solutions, the project seeks to enable more effective land use, disaster response, and infrastructure planning. The data will be licensed to national governments, allowing long-term maintenance and updates by local mapping agencies. In parallel, the initiative is expected to stimulate a new ecosystem of African startups working with geospatial analytics and AI solutions. For Space42, the initiative marks a strategic expansion into Africa, reinforcing its role as a preferred partner for governments in need of advanced geospatial capabilities. It also unlocks commercial opportunities in data licensing, infrastructure support, and analytics services, positioning the company for long-term growth in new markets. Peng Xiao, group chief executive officer at G42, said: 'We believe intelligence is the foundation for societal progress, yet it remains out of reach for millions across the Global South. This partnership is a decisive step toward closing that gap. Together with our partners, we will deliver AI-powered insights that enable African nations to plan smarter, build better, and grow more sustainably and responsibly. From agricultural optimization and natural resource management to strengthening public services infrastructure and economic empowerment, this partnership will help turn data into development, and intelligence into impact.' He added: 'G42's partnership with Microsoft represents a shared commitment to harnessing AI as a global force for good. Together, we are building the infrastructure and applications that will extend the benefits of intelligence to communities across the world, transforming lives through technology that is trusted, responsible, and inclusive.' The initiative also aligns closely with the UAE's strategic investment agenda in Africa. With $44bn invested in 2024 alone, the UAE remains the continent's largest foreign investor. By exporting AI and space-enabled technologies through platforms like Space42, the UAE is reinforcing its leadership in digital transformation, supporting both its own innovation goals and those of partner nations across the Global South. As the project moves forward, data generated from Map Africa will be hosted in Microsoft and G42-managed data centers across the continent, ensuring accessibility and sovereignty for local stakeholders. In doing so, the initiative is expected to deliver meaningful progress on the ground—transforming the way African nations manage resources, deliver services, and chart a more connected, intelligent future.
