Anders Povlsen's Wildland Ltd Reports £31M Losses Due to SaxaVord Spaceport Challenges
Anders Povlsen's Wildland Ltd reported a £31 million loss, largely attributed to a £12.1 million write-down on its investment in SaxaVord Spaceport, which has faced delays and setbacks, including a rocket engine explosion. This marks the company's sixth consecutive year of losses, despite an increase in assets to £335 million and a record turnover of £5.7 million. Wildland continues to balance conservation and commercial ventures, owning over 200,000 acres in Scotland and developing luxury properties and an eco-retreat.
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Anders Povlsen's Wildland Ltd reported a £31 million loss, primarily due to a £12.1 million write-down on its investment in SaxaVord Spaceport in Shetland. This marks the sixth consecutive year of losses for the company.
The spaceport faced significant setbacks, including a rocket engine explosion during tests in August 2024, delaying its first vertical rocket launch until 2026. Despite these challenges, Wildland's assets grew to £335 million, with a record turnover of £5.7 million last year.
The company is balancing conservation and commercial initiatives, owning over 200,000 acres in Scotland and employing 126 people. Wildland's portfolio includes luxury properties and a new eco-retreat set to open in Sutherland. The SaxaVord Spaceport was the first licensed launchpad in the UK but was recently surpassed by a Norwegian site in the race for European vertical rocket launches.
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