News

The maiden flight of Europe’s largest launch vehicle, the Ariane 6, will take place tomorrow at approximately 8:00 p.m. Polish time from the European spaceport in French Guiana. During its maiden flight, the rocket will carry a total of 18 payloads from space agencies, companies, research institutes, and universities into orbit, including the YPSat (Young Professionals Satellite) equipped with Scanway cameras. The dual-camera optical system provided by the Company will enable monitoring of two key phases of the flight: the deployment of the rocket’s main fairing during launch, as well as the separation of individual payloads in low Earth orbit at an altitude of approximately 600 km. The data collected and provided by Scanway will be used by the European Space Agency (ESA) for detailed analysis and to optimize future Ariane 6 flights. Work on the rocket began in 2014, and the cost of its development amounted to approximately 4 billion EUR.

Scanway will join the prestigious group of companies participating in the maiden flight of Europe’s newest launch vehicle, the Ariane 6. Work on the rocket began in 2014, and the design is the direct successor to the Ariane 5 rocket, which completed a total of 117 flights between 1996 and 2023, 112 of which were successful. The European Space Agency (ESA) has set the launch date for July 9 of this year, and the launch will take place at the European spaceport in French Guiana. The rocket will carry a total of 18 payloads. Ariane 6 is a key project for maintaining the independence and flexibility of Europe’s space capabilities in terms of launching payloads into Earth orbit. As part of the YPSat project, Scanway will supply a dual-camera optical system designed to monitor the deployment of the rocket’s main fairing during launch and to record the deployment of payloads into low Earth orbit. In this way, Scanway will provide critical data for analyzing the inaugural flight of Europe’s newest launch vehicle.

Scanway will join the prestigious group of companies participating in the maiden flight of Europe’s newest launch vehicle, the Ariane 6. Work on the rocket began in 2014, and the design is the direct successor to the Ariane 5 rocket, which completed a total of 117 flights between 1996 and 2023, 112 of which were successful. The European Space Agency (ESA) has set the launch date for July 9 of this year, and the launch will take place at the European spaceport in French Guiana. The rocket will carry a total of 18 payloads. Ariane 6 is a key project for maintaining the independence and flexibility of Europe’s space capabilities in terms of launching payloads into Earth orbit. As part of the YPSat project, Scanway will supply a dual-camera optical system designed to monitor the deployment of the rocket’s main fairing during launch and to record the deployment of payloads into low Earth orbit. In this way, Scanway will provide critical data for analyzing the inaugural flight of Europe’s newest launch vehicle.

Scanway has published its results for the first quarter of 2024, during which it generated 1.6 million PLN in total revenue, representing a 222% increase year-over-year. This strong growth is the result of the systematic development of both of the Company’s business lines—Space and Industry—as well as a low comparative base. Scanway’s backlog saw significant growth, rising from PLN 2.9 million at the end of December 2023 to PLN 9.8 million as of the date of the financial report’s publication, largely driven by the signing of a contract with South Korea’s Nara Space Technology worth 1.7 million euros. This is the first of several cooperation agreements that the Company has finalized by signing a favorable contract, while also making significant progress toward concluding contracts for other projects. Among the contracts awaiting formalization—which have already received a positive business decision and are highly likely to be executed—the Company reports, as of May 15 of this year, PLN 19.3 million, of which approximately 90% is attributable to products for the space sector, which, in accordance with earlier announcements by the Management Board, will account for a significant share of revenue for the entire year 2024. Cash in the amount of 0.5 million PLN as of the end of March 2024, combined with a high backlog and the advanced status of projects in contracts awaiting formalization, will enable Scanway’s continued intensive growth for at least the next 12 months.

Scanway has published its results for the first quarter of 2024, during which it generated 1.6 million PLN in total revenue, representing a 222% increase year-over-year. This strong growth is the result of the systematic development of both of the Company’s business lines—Space and Industry—as well as a low comparative base. Scanway’s backlog saw significant growth, rising from PLN 2.9 million at the end of December 2023 to PLN 9.8 million as of the date of the financial report’s publication, largely driven by the signing of a contract with South Korea’s Nara Space Technology worth 1.7 million euros. This is the first of several cooperation agreements that the Company has finalized by signing a favorable contract, while also making significant progress toward concluding contracts for other projects. Among the contracts awaiting formalization—which have already received a positive business decision and are highly likely to be executed—the Company reports, as of May 15 of this year, PLN 19.3 million, of which approximately 90% is attributable to products for the space sector, which, in accordance with earlier announcements by the Management Board, will account for a significant share of revenue for the entire year 2024. Cash in the amount of 0.5 million PLN as of the end of March 2024, combined with a high backlog and the advanced status of projects in contracts awaiting formalization, will enable Scanway’s continued intensive growth for at least the next 12 months.

Scanway, a leading company in the space observation technology sector, has signed a contract worth 1.7 million EUR with Nara Space Technology of South Korea. Scanway’s task is to develop and deliver an observation payload for a demonstration satellite as part of the NarSha project—South Korea’s first constellation of microsatellites for methane monitoring. The signing of the contract follows a cooperation agreement announced earlier this year. The NarSha project is funded by, among others, the Korea Development Bank, and the launch of the first demonstration satellite is scheduled for the fourth quarter of 2026. Following the success of the demonstration mission, Scanway and Nara Space Technology intend to continue their cooperation to build a constellation of 6–12 microsatellites. Based on the approved schedule, the Company expects revenues of approximately EUR 0.7 million in 2024, approximately EUR 0.75 million in 2025, and approximately EUR 0.25 million in 2026. The telescope developed by Scanway will be capable, among other things, of observing in the short-wave infrared spectrum, for which the Company identifies a growing market demand.

Scanway has published its results for the fourth quarter and the full year 2023, during which it generated total revenue of 7.0 million PLN, representing a 95% increase year-over-year. Total revenue for the fourth quarter alone amounted to PLN 2.1 million, an 81% increase compared to the same period in 2022. Scanway’s sharp revenue growth was driven by the ongoing commercialization of two business lines being developed by the company—Space and Industry. A leading company in the field of space-based observation technology and machine vision in industry continues its dynamic growth, updating its order backlog to PLN 2.9 million as of the end of December 2023. Among contracts awaiting formalization—which have already received a positive business decision and are highly likely to be executed—the Company identifies PLN 26.3 million, with the majority of this amount attributable to products for the space sector. The Company expects to be one of the beneficiaries of Poland’s increased contribution to the European Space Agency for the years 2023–2025, with the first decisions expected as early as 2024.

We invite you to watch the recording of Scanway S.A.’s earnings conference call from March 18, 2024—dedicated to discussing the Company’s operational and financial situation:

Scanway has published its results for the fourth quarter and the full year 2023, during which it generated total revenue of 7.0 million PLN, representing a 95% increase year-over-year. Total revenue for the fourth quarter alone amounted to PLN 2.1 million, an 81% increase compared to the same period in 2022. Scanway’s sharp revenue growth was driven by the ongoing commercialization of two business lines being developed by the company—Space and Industry. A leading company in the field of space-based observation technology and machine vision in industry continues its dynamic growth, updating its order backlog to PLN 2.9 million as of the end of December 2023. Among contracts awaiting formalization—which have already received a positive business decision and are highly likely to be executed—the Company identifies PLN 26.3 million, with the majority of this amount attributable to products for the space sector. The Company expects to be one of the beneficiaries of Poland’s increased contribution to the European Space Agency for the years 2023–2025, with the first decisions expected as early as 2024.