Space42 net profit rises 31% to Dh180 million on strong government demand

Résumé détaillé

Revenue climbs 11% to $404 million, while normalised Ebitda jumps 30% as the UAE space technology company’s satellite and AI-powered solutions businesses grow.

Space42 reported a 31 per cent year-on-year increase in net profit to $49 million during the first nine months of 2026, supported by stronger government demand for satellite communications, geospatial intelligence and AI-powered solutions.

The Abu Dhabi-listed company said revenue rose 11 per cent to $404 million, while normalised earnings before interest, taxes, depreciation and amortisation increased 30 per cent to $194 million.

The normalised Ebitda margin reached 48 per cent, reflecting improved profitability in the company’s Smart Solutions business, which recorded its second consecutive quarter of profitable growth.

Space42’s Space Services division recorded revenue of $340 million, an increase of 11 per cent year-on-year, marking its strongest nine-month performance to date.

The growth was supported by government contracts, including a $700 million, 15-year capacity services agreement that commenced in July 2025 following the successful launch of the Thuraya-4 satellite.

The company’s Smart Solutions division reported a 16 per cent increase in revenue, driven by higher government demand for geospatial intelligence, Earth observation and situational awareness services.

Karim Michel Sabbagh, Managing Director of Space42, said the results reflected growth across both business divisions and continued progress in implementing the company’s strategy.

“Space42 has delivered another outstanding performance, with both business units delivering double-digit revenue growth during the nine-month period,” he said.

Space42 continued expanding its satellite and AI-powered services during the period, including the entry into service of its Foresight-3, Foresight-4 and Foresight-5 satellites.

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