Company type
Limited Corporation (APS)
Established
2014
Size
Micro
Employees
7
Revenue
219 MDKK
Gross profit
13 MDKK
Operating Profit (EBIT)
409,210 DKK
Profit for the year
13 MDKK
Equity
31 MDKK
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Rank Profit for the year

Rank in industry
2/9
"Top 35%"
Rank in Denmark
7,934/313,454
"Top 10%"

Top management Top 3

Thinus Svendsen 1Director

Legal owners Top 3

100%Honeywell International Sárl

Rights certificate

Selskabet tegnes af 1 direktør.

Company information based on CVR

NameSatcom1 Airtime Services Aps
Alternate namesResale Aps, Satcom1 Aps, Satcom1 Gx Services Aps Show more
CVR35634541
AddressStrandesplanaden 110, c/o Satcom1 ApS, 2665 Vallensbæk Strand
IndustrySatellite telecommunications activities [613000]
Established09-01-2014 (7 yr)
Company typeLimited Corporation (APS)
Number of employees7 (Fin.Stmt)
Advertising protectionNo
AuditorDeloitte Statsautoriseret Revisionspartnerselskab since 03-06-2016
Financial statement period01-01 to 31-12
Company capital50,000 DKK
Articles of assoc. last11-10-2019

Member of industries

Purpose

Selskabets formål er at drive virksomhed inden for området satellit kommunikation.

Financial Statement

 201920182017
Currency/unit000' DKK000' DKK000' DKK
Revenue
219,241
+39%
157,297
+31%
120,254
+10%
Gross Profit
13,226
-
-27,984
-
17,999
-
Profit for the year
12,714
-
-19,224
-
11,670
-
Equity
31,042
+248%
8,926
-68%
28,150
+48%
Total Assets
373,789
+15%
323,976
+76%
183,582
+74%

Mangement review

Principal activityThe Company's main activity is to provide satellite communication services.Financial reviewThe income statement of the Company for 2019 shows a profit of USD 2,059,880 and at 31 December 2019 the balance sheet of the Company shows equity of USD 5,205,044.The Sales for 2019 was USD 35,521,305 compared to USD 33,612,003 for 2018.The Operating income for the company was USD 66,300. The result for 2019 represents USD 2,059,880 compared to loss of USD -4,556,657 for 2018 and is at expected level. After the result of the year the solvency ratio is 8.3% compared to 5.67% in 2018.OutlookAt the end of 2015, Satcom 1 was sold to Honeywell International, offering operators a seamless experience with an all-in-one connectivity solution spanning routing software, airtime, hardware, avionics flight support services and applications. Honeywell’s partnership with Inmarsat to be the exclusive hardware provider for commercial aircraft connecting to Inmarsat’s GX Network and the exclusive airtime distributor for business aviation provides aircraft owners and operators the best in flight bandwidth globally.Combining Honeywell’s over 100 years of success in aviation with Satcom’s 1 VIP cabin, airtime, network software management and engineering expertise provides a foundation for the best satellite communications offerings in the industry and around the world.Honeywell Aerospace product and services are found on virtually every commercial, defence and space aircraft, and its turbochargers are used by nearly every automaker and truck manufacturer around the world. The aerospace business unit develops innovative solutions for more fule efficient automobiles and airplanes, more direct and on time flights, safer flying and runway traffic, alongwith aircraft engines, cockpit and cabin electronics, wireless connectivity services,logistics and more. The business delivers safer, faster and more efficient and comfortable transportation related experience worldwide. For more information visit www.honeywell.com or follow us at @Honeywell_Aero and @ Honeywell_Turbo.Honeywell is a fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services, control technologies for buildings, homes and industry, turbochargers and performance materials. Unusual matters having affected the financial statementsPursuant to the Global restructuring of Honeywell, during the year 2019, the Company's Board of Directors at their meeting held on 11 October 2019, approved an agreement to merge Satcom 1 ApS in the company. On 14 October 2019 pursuant to order of Danish business authority, Satcom 1 ApS was merged into the company with effect from 1 January 2019.External environmentThe company is committed to be one of the leading companies within environmental control with regard to the running of own facilities.Uncertainty relating to recognition and measurement Satcom1 Airtime Services abides with Honeywell Inc.’s strong financial and ethical controls to minimize any revenue recognition issues. Stringent controls remain in place and are reviewed annually, including FCPA training which is established as a mandatory requirement for all Honeywell employees.Knowledge resourcesThe Company's business foundation states that all core products must be accompanied by Danish manuals and requires that customers must be able to obtain technical support, training, etc. according to need. This means high requirements as to knowledge resources among our employees.To ensure the continuous ability to provide these services it is essential that the Company is able to recruit and retain employees with extensive professional qualifications in electronics and IT.Special risks – operating risks and financial risks Price risks- The Company is not subject to any significant price risks. Foreign currency risks- Due to activities abroad, profit, cash flows and equity are affected by the development in exchange rates for a number of currencies.Interest rate risks- The Company does not have any significant interest-bearing debt and therefore the interest level will not have any significant impact on earnings. Accordingly, no interest-rate instruments are entered to hedge interest-rate risks.
26-06-2020

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