Hispasat, a Spanish satellite operator owned by Indra Sistemas, is a key player in the space communications industry. It provides a range of services, including broadcasting, broadband, and data transmission, primarily serving Europe and the Americas. Hispasat also engages in innovative projects like quantum key distribution and collaborates with partners such as Thales Alenia Space, ESA, and various telecommunications companies to expand connectivity and bridge the digital divide.
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Eutelsat is one of three satellite operators in the SpaceRISE consortium, alongside SES and Hispasat.
Under the IRIS² concession structure, SES, Eutelsat, and Hispasat manage commercial execution.
The Trantor consortium included the Consiglio Nazionale delle Ricerche (CNR), the Fraunhofer Institute for Integrated Circuits (IIS), Hispasat, Indra, Quadsat, Software Radio Systems (SRS), Starion, the University of Luxembourg, and Inster.
Hispasat reduced its net debt by 35.51% from 157.7 million euros at the end of 2024.
Hispasat's EBITDA rose 8.4% in 2025 to 135.9 million euros from 125.4 million euros in 2024.
Hispasat generated a pro forma net profit of 13.5 million euros in 2025, excluding nonfinancial asset value updates and extraordinary adjustments.
Indra paid 725 million euros to Redeia for its majority stake in Hispasat.
Hispasat recorded losses of 17 million euros in 2025.
Hispasat's pro forma net profit increased 62.65% from 8.3 million euros in 2024.
Hispasat had 308.2 million euros of liquidity, including 58.2 million euros in available cash and 250 million euros in undrawn credit lines.
Hispasat's debt-to-EBITDA ratio was 0.74 times at the end of 2025.
Hispasat reduced its losses by 75.7% from 2024, when losses were 69.9 million euros.
Hispasat became fully integrated into Indra Group on 30 December 2025.
Hispasat's revenue fell 11.2% in 2025 to 212.1 million euros from 238.7 million euros in 2024.
Hispasat reported net debt of 101.7 million euros at the end of 2025, including guarantees to third parties.
Indra Group owned 89.68% of Hispasat's shares after the integration, and SEPI held the remaining 10.32%.
Hispasat is responsible for designing, developing, and implementing the IRIS² ground segment.
Hispasat is responsible within the IRIS² consortium for operating and providing services to EU member states.
Hispasat will lead the constellation’s very low orbit Low LEO layer.
The IRIS² program is being developed under a public-private partnership led by Eutelsat, Hispasat, and SES through the SpaceRISE consortium.