Speaking in an opening presentation at Hispasat Innovation Days in London, he added that by way of comparison its revenues in 2017 amounted to €235 million.
Guerra also said that Hispasat remains confident in the future but realises it faces a very difficult challenge. In effect, it has to change everything, including the business model.
It will be important to focus on the broadband market rather than video services in Western Europe.
Hispasat is the ninth largest satellite operator in the world in revenue terms and this year has 11 satellites in orbit in seven different slots. Its traditional 30 degrees West slot hosts three satellites, the newest of which (H30W-6) was launched last month.
Its other slots are 36W, 55,5W, 61W, 70W and 84W, and it has a total of 333C and Ku band transponders.