Anabel Segura, 11
28108 Alcobendas / Madrid
Spain / T +34 91 710 25 40
© Informe Anual Hispasat 2020
The text in Spanish prevails over the English version.
LETTER TO
Jordi Hereu
PRESIDENT OF HISPASAT
Dear shareholders,
The 2020 financial year unfolded in complex circumstances, for a sector like aerospace, the transformation of which has been accelerated by the impact of the Covid-19 pandemic. However, for HISPASAT it represents a turning point, the end of one era and the start of a new one. The Strategic Plan, approved last July, outlines the pathway we have designed to adapt the company to the challenge of digitising society without leaving anybody behind and offering innovative solutions to address the technological changes with certainty.
The results presented in this report show an honest and clear view of HISPASAT’s baseline and financial strength to overcome this challenge. Based on lower debt, the ability to generate our own resources and a personnel team that has proven their aptitude and resilience countless times.
The journey will not be an easy one, but we have the tools to look to the future optimistically. Our aim is to work as a driver in the industry and to promote innovation to help rebuild our economy for future generations, and to be a leader in communications between Europe and Latin America so that progress in the form of digitisation reaches every single citizen, even in the most remote places.
Thank you.
Miguel Ángel Panduro Panadero
CHIEF EXECUTIVE OFFICER
Dear shareholders,
As Chief Executive Officer, one more year, I present you the annual report for the 2020 financial year for HISPASAT, which covers the year’s most important milestones.
There is no doubt that 2020 has been a difficult year. The health and economic crisis caused by the COVID-19 pandemic has had a significant impact on the society and, how could it be otherwise, in our business with the delay of some projects. Nonetheless, I sincerely believe that HISPASAT has managed to minimise its effect on the balance sheet thanks to a contingency plan designed to ensure the safety of our staff and guarantee the operation of strategic assets, and to limit the financial impact of the stoppage.
This year has been particularly relevant for HISPASAT because of the definition and approval of the 2020-2025 Strategic Plan, which outlines a roadmap that will transform the company and it should be a turning point in the trend of our activity. The Plan identifies the business lines where HISPASAT needs to position itself to continue growing and generating value and, at the same time, to improve the efficiency in the management of our traditional business. We will continue to be a leader in communications between Europe and Latin America and in video transmission. This must join to our project to become a provider of services and solutions via satellite to tackle the growing demand for universal connectivity and data services with a guarantee of quality, security and resilience.
The damn pandemic has accelerated the digitisation of society and the urgent need to combat the divide that exists in remote places, where satellite infrastructures are essential to close the existing chasm. At HISPASAT we will keep working to secure full connectivity and to make digital rights universal for all citizens, without exception, and wherever they may be regardless of how inaccessible it is.
I am grateful of our shareholders, our customers and suppliers for the support and trust right now and, in particular, HISPASAT employees, who in such a difficult year have once again demonstrated their professionalism, keeping strategic infrastructures working and adapting quickly to the changes with extraordinary efficiency and commitment. Thank you very much to all of them.