Scanway growing despite losses, preparing more contracts

Scanway, a Polish space-technology exporter listed on the Warsaw Stock Exchange, increased its Q1 net loss to PLN 4.1 mln from PLN 1.2 mln a year earlier, mainly due to investment in production facilities, a new lab, a clean room, equipment, materials, and staff. Revenue rose 29% y/y to about PLN 3.8 mln, while its order backlog reached PLN 53.5 mln, including a EUR 9 mln contract with an Asian client.

The company is expanding rapidly, with employment up 37% to 100 people, including 80 engineers. Scanway is working on optical instruments for satellites, including projects for Poland’s defense sector, Intuitive Machines in the U.S., and Nara Space in South Korea. It aims to become one of Europe’s largest optical payload integrators by 2028.

(pb.pl)