Latest news with #Thuraya4
Zawya
4 days ago
- Business
- Zawya
Space42 delivered resilient performance with net profit of $53mln in H1 2025
In H1 2025, Space42 delivered a resilient performance with normalised 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 achieved 2% year-on-year revenue growth in Q2 2025, reaching USD 100 million, driven by double-digit expansion in the oil and 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, 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. The company 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
Gulf Business
4 days ago
- Business
- Gulf Business
Space42 reports resilient H1, boosted by optimised ops, strategic execution
Image courtesy: Space42/ For illustrative purposes UAE-based AI-powered Spacetech company The company, listed on the Abu Dhabi Securities Exchange under the symbol SPACE42, posted a normalised net profit of $53m, flat compared to the same period last year, but with a higher margin. Cash and short-term deposits stood at $816m as of June 30, alongside a newly secured $0.7bn ECA-backed funding facility. Space42 also reported contracted future revenues of $6.8bn. '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,' said MD Karim Sabbagh. Space Services recorded 2 per cent year-on-year revenue growth in Q2 2025, reaching $100m, led by double-digit growth in the oil and gas sector. Growth was attributed to demand for secure communications and mobile satellite services in the UAE, with this trend expected to continue. The recent launch of the Thuraya-4 satellite, set to enter commercial service in H2 2025, is expected to accelerate growth with new offerings in defense, security, and commercial applications. The company also reported progress in its direct-to-device (D2D) system, with further developments anticipated later this year. Despite underperformance linked to multi-year programme timing, Smart Solutions continued capability development and began seeding key programs set to scale in H2 2025. It is focused on deploying the Foresight system, featuring seven Earth observation satellites, and advancing the GIQ geospatial analytics platform, now available on Microsoft Azure Marketplace. These efforts were recognised with the Future Fit seal by the UAE government under the UAE Space Agency, underscoring the strategic value of Space42's dual-use technologies. Strategic pillars show broad progress Space42 reported progress in these areas: Launched the Middle East's first SAR satellite manufacturing facility in partnership with ADIO. Completed construction of a High-Altitude Platform Systems (HAPS) manufacturing and R&D site, targeting full commercial rollout by 2026. Signed MoU with Microsoft and Esri for the Map Africa Initiative, a five-year AI-powered mapping program across all 54 African countries. Scaled the GIQ platform ahead of full commercialisation in Q4 2025. Received the UAE Government's Future Fit Seal for innovation. Advanced joint venture with FADA and EDGE to develop a national geospatial ecosystem. Continued development of AI-integrated command and control systems and sensing technologies. Near completion of Thuraya-4 in-orbit testing, with 16 new products rolling out including IP Neo Broadband and Thuraya Broadband Hotspot. Ongoing development of D2D space systems with Viasat, establishing a 5G NTN multi-orbit platform. Continued progress on the Al Yah 4 and Al Yah 5 satellite programme, with design reviews underway. These assets support a $5.1bn, 17-year government contract generating $300m annual revenues from Q4 2026. Read: Financial highlights: At a glance Metric Result Revenue $226m (-17 per cent YoY) Normalised EBITDA $112m (-14 per cent YoY); margin up 2pp to 49 per cent Normalised Net Profit $53m (flat YoY); margin up 4pp to 23 per cent Cash CapEx $109m Cash / Short-Term Deposits $816m Negative Net Debt $478m Net Leverage Ratio -1.8x Contracted Future Revenues $6.8bn
Zawya
4 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.
Gulf Today
12-04-2025
- Science
- Gulf Today
UAE marks first human spaceflight anniversary
The UAE continues its significant contributions to space exploration, driven by its qualified national workforce and ambitious youth, as it prepares to mark the anniversary of the first human spaceflight on Saturday. The nation achieved a historic milestone in the first quarter of this year by launching six satellites: Thuraya 4, MBZ-SAT, Al Ain Sat-1, HCT-SAT 1, the second phase of Foresight Constellation, and Etihad-SAT. This year's anniversary highlights the UAE's emergence as a leading space exploration success story in the Arab and regional spheres. Its accomplishments include groundbreaking projects and the development of a skilled generation of astronauts, administrators, and technical personnel. Recent milestones include February's agreement between Mohammed Bin Rashid Space Centre (MBRSC) and Thales Alenia Space. Under the agreement, Thales Alenia Space will be a strategic partner in the development of the Pressure Equalisation Unit of the Gateway Lunar Space Station. The UAE's participation in this project signifies a major step in its strategy to establish a prominent global presence in space science and technology. The UAE joined the Gateway project in January 2024 alongside the US, Japan, Canada, and the European Union, and announced its intent to send the first Emirati and Arab astronaut to lunar orbit. Furthermore, the Emirates Mission to the Asteroid Belt has achieved a significant milestone by completing the Critical Design Review (CDR) between 24th and 26th February 2025, paving the way for the assembly, integration, and testing of the Mohammed Bin Rashid Explorer. In March, MBRSC invited Emirati citizens aged 30-55 with backgrounds in engineering, technology, or healthcare and English proficiency to participate in future analogue studies as part of the UAE Analogue Programme. These studies aim to investigate the effects of isolation and confinement on human psychology, physiology, and team dynamics. WAM
Zawya
11-04-2025
- Science
- Zawya
UAE marks first human spaceflight anniversary with continued space exploration
ABU DHABI - The UAE continues its significant contributions to space exploration, driven by its qualified national workforce and ambitious youth, as it prepares to mark the anniversary of the first human spaceflight on Saturday. The nation achieved a historic milestone in the first quarter of this year by launching six satellites: Thuraya 4, MBZ-SAT, Al Ain Sat-1, HCT-SAT 1, the second phase of Foresight Constellation, and Etihad-SAT. This year's anniversary highlights the UAE's emergence as a leading space exploration success story in the Arab and regional spheres. Its accomplishments include groundbreaking projects and the development of a skilled generation of astronauts, administrators, and technical personnel. Recent milestones include February's agreement between Mohammed Bin Rashid Space Centre (MBRSC) and Thales Alenia Space. Under the agreement, Thales Alenia Space will be a strategic partner in the development of the Pressure Equalisation Unit of the Gateway Lunar Space Station. The UAE's participation in this project signifies a major step in its strategy to establish a prominent global presence in space science and technology. The UAE joined the Gateway project in January 2024 alongside the US, Japan, Canada, and the European Union, and announced its intent to send the first Emirati and Arab astronaut to lunar orbit. Furthermore, the Emirates Mission to the Asteroid Belt has achieved a significant milestone by completing the Critical Design Review (CDR) between 24th and 26th February 2025, paving the way for the assembly, integration, and testing of the Mohammed Bin Rashid Explorer. In March, MBRSC invited Emirati citizens aged 30-55 with backgrounds in engineering, technology, or healthcare and English proficiency to participate in future analog studies as part of the UAE Analog Programme. These studies aim to investigate the effects of isolation and confinement on human psychology, physiology, and team dynamics. In February, the Emirates Mars Mission's Hope Probe sent the first image of the Red Planet. Since reaching Mars orbit in February 2021, the Hope Probe has provided 12 scientific data packages, totalling 5.4 terabytes, freely shared with 200 scientific and research institutions globally.
