Today's Edition
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 revenues.
Capital expenditure reached $109 million, while the firm maintained a negative net debt position of $478 million and a healthy net leverage ratio of -1.8x.
Commenting 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 sector.
Smart 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.
