Polish space-tech and industrial imaging company Scanway S.A. reported total revenues of PLN 3.18 million for the first quarter of 2025—an impressive 97% year-on-year increase. The growth was driven primarily by the delivery of two optical instruments and ongoing contract execution in the Space and Industry segments. A major milestone was Scanway being selected as one of eight recommended subcontractors for the Camila project, led by Creotech Instruments under the European Space Agency (ESA).
Key Financials and Milestones
- Q1 2025 total revenue: PLN 3.18 million
- Space segment: 89% of total revenue
- Industry segment: 11%
- EBITDA: PLN -0.2 million
- Net loss: PLN -1.1 million
- Backlog: PLN 16.9 million (as of March 31, 2025)
- Cash position: PLN 0.3 million
The ESA-backed Camila project is valued at €51.9 million, with €26.3 million allocated to subcontractors including Scanway. The company is currently negotiating a detailed execution agreement that will further strengthen its backlog.
“We’re proud to be recognized as a key subcontractor in the Camila constellation project. The opportunity to deliver crucial optical payloads for at least two satellites is a significant achievement for Scanway and the Polish space sector,” said Jędrzej Kowalewski, CEO of Scanway S.A.
Camila Project: A Strategic Leap for Polish Space
The Camila mission aims to build a Polish Earth observation satellite constellation providing optical and radar data for civil, governmental, academic, and commercial use. Launch is planned by the end of 2027, with a minimum of three satellites (two optical and one radar) and potential expansion options. Subcontractors include Cloud Ferro, Eycore, GMV, KP Labs, and Scanway.
Expanding Global Presence
Scanway continues to gain traction internationally:
- Expanded its contract with Nara Space (South Korea) to include aerial testing of a methane-detecting telescope, with potential deployment on 12 planned satellites.
- Plays a vital role in the PIAST constellation for the Polish Ministry of Defense.
- Participates in the Lunar Data Network with Intuitive Machines (USA), marking the first-ever Polish telescope to be sent to the Moon.
“Our recent visit to Intuitive Machines in the U.S. confirmed strong partnership potential. The lunar telescope project symbolizes Scanway’s entry into deep-space exploration,” added Mikołaj Podgórski, COO and Co-founder.
Industry Segment: Commercialization of Hydra
In Q1 2025, Scanway launched commercial deployment of Hydra, a modular vision system featuring:
- AI-powered image processing
- Machine learning algorithms
- Hyperspectral scanners
The system is 80% pre-configured, allowing for fast and cost-effective deployment across multiple industries. The first installation began in March at a food processing plant in Poland.
“Hydra is a major leap forward for industrial vision systems. We’re already seeing interest across sectors and expect more deployments soon,” said Radosław Charytoniuk, CSO of Scanway.
Path to the Main Market
Scanway plans to transition from NewConnect to the Main Market of the Warsaw Stock Exchange (WSE) in 2025. The company aims to submit its prospectus to the Polish Financial Supervision Authority (KNF) by mid-year and targets a debut by year-end.
“We’re finalizing our prospectus and aligning our reporting with IFRS standards. In April, we ranked third by trading volume among 360 companies on NewConnect, responsible for over 6% of total turnover. Listing on the main market will open new opportunities with institutional investors,” said Kowalewski.
Global Contracts and Market Leadership
Scanway is already involved in high-profile missions:
- Delivered the largest Polish-built telescope for the EagleEye satellite.
- Supplied camera systems for the maiden flight of Ariane 6.
- Holds international contracts with Nara Space (€2.4M) and Marble Imaging (Germany) (€3.2M), both with potential for further expansion.
Source: ManagerPlus – Scanway Reports 97% YoY Revenue Growth, Eyes WSE Main Market Debut
