SCISYS lands €11.2m contract with European Space Agency contractor

SCISYS secured a €11.2m contract with European Space Agency contractor Thales Alenia Space France for the continuation and enhancement of four Galileo Ground Mission Segment (GMS) elements on Monday.

Under the terms of the EU-funded contract, which will commence this month and continue until June 2020, SCISYS’ German space division will continue the evolution and maintenance of four elements within the GMS under the Full Operational Capability phase, and additionally take over a component of the Mission Key Management Facility.

Galileo is the European Space Agency’s global navigation satellite system and provides a highly accurate, guaranteed global positioning service under civilian control.

Klaus Heidrich, chief executive of SCISYS, said: "We are delighted with this fantastic win by our Space division. This contract underpins our continued position of strength in the European space sector and satellite-navigation programmes in particular. Congratulations to all of the teams involved."

Heidrich added that the company’s recent decision to redomicile the SCISYS parent company to Dublin to protect EU funded work was decisive in securing the contract.

"This success extends the record order book that we announced in our Interim Report. Added to our healthy cash flow and increasingly strong balance sheet, it reinforces our confidence that SCISYS will achieve further year-on-year growth in 2018. The future prospects of the group continue to look highly encouraging," said Heidrich.

SCISYS’ shares were up 4.10% at 152.50p at 1640 GMT.