Space: Agreements with the government in the amount of 26 m d – the capital market

Services provided by space using a satellite loaded with Ku 3 frequency will be extended for various periods of time and at the latest by the end of August 2024, with the estimated revenue from the extension amounting to $ 13 million. This is an extension of the existing agreement, which ends at the end of this June and was signed about four years ago, in a deal that is estimated at $ 34 million and also includes services via Amos 7 satellite.

Services were further extended by three years using Ku’s frequency of the Amos 4 satellite, with a $ 9 million space for the extension. The current agreement also expires at the end of June, and was originally signed in 2016 for a period of 5 years, when the government paid $ 33 million into space for various Ka-frequency services of Amos 4 satellite. $ 4 million in total.

Space closed the third quarter of 2020 with an 8% increase in revenue, which amounted to about $ 22.1 million, compared to revenue of about $ 20.4 million in the corresponding quarter last year. The increase in revenue is due to the commercial operation of the Amos-17 satellite at the end of 2019 and the addition of new customers. The bottom line is that the company reported a loss of about $ 6 million, compared to a loss of about $ 1.6 million in the corresponding quarter last year, mainly in light of the erosion in gross profit.

In the last 12 months, the company’s share has fallen by 33%. At its peak in February last year, it traded at NIS 8 per share, and at a low of NIS 2.5 in March. Since its recovery and since the beginning of 2021, it has risen by 2% to a price of NIS 4.7 per share, reflecting a value of NIS 115 million for the company.