Creotech Instruments has talks about the production of satellites, including with two Asian countries

Creotech Instruments is in talks to sell another four satellites, and also talks with two Asian countries about the production of satellites, said president Grzegorz Brona.

“We have four satellites in progress (EagleEye and three Piasts) and talks for another four (three satellites in the preliminary design phases and one satellite in evaluation). In addition, we are in talks with two countries in East Asia regarding the construction of satellites. We hope that these talks will end with specific contracts in the near future, ”said Brona during the WSE Innovation Day.

He noted that Creotech has “enormous potential to upscale” the company after the launch of its satellites in 2023. Maciej Kielek, CFO of Creotech Instruments, pointed out that the company is increasing its revenue base in high-margin segments, and from 2023/2024 it will produce its own microsatellites. It expects the EBITDA margin of this activity at the level of 60-70%.

“The sale of only a few satellites per year will allow to generate an EBITDA margin of several to over PLN 20 million. Ultimately, we are not interested in three sales, but in gaining a few percent of the global market, estimated at the production of 1.5 thousand. satellites annually. In addition to entering ‘New Space’, in our current business segments (science, production), we aim to maintain a 30-40% growth dynamics, ”Kielek pointed out.

Creotech Instruments is the largest Polish company producing and delivering to the global market space technologies as well as specialized electronics and apparatus, incl. for quantum computers, quantum cryptography or quantum physics and high energy laboratories. The company made its debut on the NewConnect market in October 2021.


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