A. SREENIVASA REDDY (ABU DHABI)
Space42, a leading space technology company listed on the Abu Dhabi Securities Exchange (ADX), achieved an Emiratisation rate of 37.54%, reflecting its focus on developing national talent as part of its broader human capital strategy.
According to its 2025 Integrated Report, the company employs more than 620 people representing 58 nationalities, with Emiratis forming the largest national group, followed by professionals from India and the Philippines.
The workforce is 75% male and 25% female, with ongoing initiatives aimed at improving gender diversity and inclusion across all levels.
The report highlights a strong emphasis on employee engagement, learning and development, and workplace culture, including the rollout of programmes such as Lead Forward, Kaizen @ Space42, and the Employee Experience Programme.
These initiatives are aimed at enhancing collaboration, professional growth, and overall workforce well-being.
Space42 was formed through the merger of Bayanat AI and Al Yah Satellite Communications Company and debuted on ADX on October 1, 2024.
The combination created the UAE’s first AI-powered SpaceTech company with global reach, aligned with national strategies such as the UAE National Space Strategy 2030 and AI Strategy 2031.
The company operates across two core business units — Smart Solutions and Space Services — integrating satellite communications, geospatial analytics, and artificial intelligence into a unified platform. Its capabilities span satellite connectivity, Earth observation, and AI-driven analytics, reaching more than 150 countries and over 80% of the world’s population.
Space42 currently operates a fleet of 11 satellites, comprising six in Geostationary Orbit (GEO) and five in Low Earth Orbit (LEO).
The company added that its fleet is set to expand further with the planned launch of Al Yah 4 and Al Yah 5 in 2027 and 2028, respectively, along with two additional LEO satellites expected by 2027, strengthening its space infrastructure and service capabilities.
Despite its strategic positioning, Space42’s share price declined by 21.5% year-on-year to Dh1.57 as of December 31, 2025. The report attributes the decline primarily to a transition phase following the merger, including the repositioning of its Smart Solutions business towards more programmatic, strategy-aligned engagements.
This shift, while strengthening long-term sustainability, weighed on near-term financial performance and investor sentiment.
The company’s major shareholders include Group 42 Holding Ltd, which holds 41.6% of the capital, Mamoura Diversified Global Holding PJSC with a 29.0% stake — an entity affiliated with Mubadala — and International Tech Group, which holds 8.1% and is affiliated with International Holding Company (IHC).
Financially, Space42 reported total revenue of $577 million for 2025, down 8% year-on-year, while normalised EBITDA stood at $224 million, reflecting a 19% decline. Normalised net profit came in at $79 million, impacted by the ongoing transition in the Smart Solutions segment and one-off adjustments.
In his message, Chairman Mansoor Al Mansoori said the company closed the year with “a strong balance sheet, significant contracted revenues, and a clear strategic direction,” highlighting the progress made in its inaugural year following the merger.
Addressing shareholders, the chairman said: “I affirm that Space42 is building long-term value. We are investing in the infrastructure, capabilities, and partnerships that will define the next decade of growth. The results of 2025 confirm that we are on the right path.”
Managing Director Karim Michel Sabbagh noted that 2025 laid the foundations for the company’s future, with a strategy-driven transformation integrating satellite communications and geospatial intelligence with artificial intelligence at its core.
“Our progress is measured by outcomes delivered and commitments honoured. Powered by more than 620 spacers, Space42 is delivering on its purpose: to enlighten the Earth from space,” he added.