Logistics Company: GMV Announces Strong Organic Growth In 2006
GMV, a private, multinational firm headquartered in Madrid, experienced strong organic growth in 2006. GMV saw an 18 percent increase in overall revenue, up to $90.6 M. Space and defense is one of the largest business area in the company. This area makes up about 64 percent of the company's revenues and saw a 15.5 percent revenue increase between 2005 and 2006. Total revenue for space and defense was $55.7M U.S. dollars. No acquisitions were made during 2006, so all growth was organic.
"GMV is growing at a significantly higher than planned for rate," said Luis Mayo, CEO of GMV. "We are one full year ahead of our planned-for growth. And what is particularly notable about our growth in 2006 is that it was achieved organically, without acquisitions. As we look toward the future, GMV will increasingly be looking for potential partners or acquisitions so that we can add to our array of products and services."
GMV specializes in the supply, development and integration of engineering systems for the aerospace, defense, security, healthcare, transport, telematics and telecommunications sectors. In Space, GMV is a leading supplier of satellite ground system software for agencies, operators and manufacturers around the world. The key reasons for the company's worldwide success include the Galileo program, the European Satellite Navigation Program, GMV's leading technology for ground satellite control systems, and the expansion of the company's North American division, which is based in Rockville, Maryland.
In 2006, GMV signed contracts worth over $54 for the Galileo Program. This is the third largest participation in the Galileo program in Europe.
"GMV can attribute a good portion of our strong growth rate to the Galileo program and the opportunities the US division has brought to the table," said Theresa Beech, Vice President, GMV North America. "Establishing a presence in the U.S. in 2004 is proving to have been a strategic business move for GMV."
GMV's customers in Aerospace and Defense include Space Agencies on both sides of the Atlantic, all of the large commercial GEO satellite operators in the world, as well as many of the medium and smaller-sized operators around the world.
Founded in 1984, Madrid-based GMV currently employs more than 800 professionals worldwide. It runs subsidiaries in Portugal and the United States, as has professionals based in numerous cities throughout Spain, France, and Germany.
About GMV:
GMV is one of the leading suppliers of satellite ground system software in the world, and is the global leader in satellite flight dynamics for all types of satellite missions (LEO, MEO, GEO, HEEO and interplanetary). GMV has been providing satellite ground system software to satellite manufacturers, commercial operators, and Space Institutions around the world for over 22 years. There are currently more than 75 satellites being operated from five continents and 18 countries with GMV's operational software. GMV's U.S. headquarters are in Rockville, Md. More information about GMV and its products can be found at www.gmv.com
SOURCE: GMV