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If you’re preparing for the CIMA SCS Leothayre exam in May or August 2025, you’re dealing with a fast-growing company in the small satellite sector. In this blog post, we break down the Leothayre preseen, explore the complex satellite industry it operates in, highlight likely exam issues across E3, P3 and F3, and explain why this case is one of the most challenging yet.
Let’s dive into the essentials that will help you succeed in this sitting.
If you haven’t already seen it, you can download the official pre-seen materials for Leothayre directly from the CIMA website.
The SCS exam is the final challenge in your CIMA journey. You’ll be expected to take on the role of a Senior Finance Manager, advising Leothayre’s Board on strategic decisions and navigating complex, uncertain scenarios.
The exam tests how well you can:
You’ll be marked for relevance, structure, and clarity. Strong answers are well-rounded, practical, and tailored to Leothayre’s world—not textbook regurgitation.
This is a highly technical, fast-evolving industry with many layers. Don’t worry—you don’t need an engineering degree to pass. But you do need to understand enough to interpret the commercial, financial and operational challenges facing a company like Leothayre.
Here are the key aspects to get your head around:
Leothayre builds CubeSats (3U, 6U, 12U) and PocketQubes—tiny satellites designed for short-term missions. These are cheaper and faster to launch but lack the sophistication of larger units.
Leothayre doesn’t own rockets. It relies on third-party launch providers and must negotiate launch slots, which brings operational and timing risks.
Once satellites are in orbit, Leothayre provides ground station support—sending commands and collecting data. Ground stations vary in size and complexity and must be tailored to each mission.
There’s growing pressure to reduce space debris, especially from CubeSat missions. The “Space Junk Charter” is voluntary, but public and client expectations are rising.
From farming to telecoms, industries are hungry for low-orbit data. With satellite numbers expected to reach 70,000 within a decade, competition is fierce—but so is opportunity.
Leothayre is a quoted company based in Wexland. It provides complete satellite solutions—from design and manufacture through to launch arrangements and in-orbit support.
Highlights from the preseen:
Financially, the company is profitable, but finance costs are high (W$450m in 2025 vs W$350m in 2024), suggesting a heavily leveraged capital structure. Borrowings have climbed to W$4.5bn.
Leothayre is currently navigating an exciting phase of growth. Revenues rose from W$1.68 billion in 2024 to W$1.78 billion in 2025, a sign of continued demand for small satellite services across multiple industries. With 64 successful satellite launches under its belt and a healthy pipeline of new orders, the company is well-positioned as a trusted, end-to-end solution provider in the market.
But this growth hasn’t come without challenges. Finance costs have surged from W$350 million to W$450 million, driven by a jump in total borrowings to W$4.5 billion. Leothayre’s strategy appears to lean heavily on debt to fund its expansion—raising questions about its capital structure and financial risk. That said, the company remains profitable and cash-generative, with an operating profit of W$656 million and cash reserves of W$551 million, giving it breathing room to invest, innovate, and respond to unexpected setbacks.
Leothayre’s strong track record of meeting deadlines and delivering on mission objectives continues to set it apart from rivals like Orbalinc, which may be larger but lacks the same reputation for reliability. As demand for low Earth orbit (LEO) satellite services grows, Leothayre appears well-placed to scale—provided it can manage risk and maintain its technical edge.
Let’s break down 3 likely issues per paper based on Leothayre’s context and past examiner trends:
The SCS is often viewed as the hardest paper in the CIMA qualification—not because it’s technical, but because it requires you to think like a senior leader under pressure.
Here’s why it can trip candidates up:
But here’s the good news: with the right prep and mindset, it’s absolutely passable—especially once you understand the preseen and practise responding in the correct style.
Our marked mocks and video debriefs are designed to help you avoid these pitfalls.
You’re not a technician—you’re an advisor to the Board. Frame your answers as strategic advice, not textbook answers.
Spend 3–4 minutes per task planning your structure. This ensures your answer is clear, focused, and doesn’t ramble.
Structure your response with logical, task-driven headings. This helps markers follow your argument and boosts your professionalism.
Don’t write in a vacuum. Constantly relate your answers back to Leothayre’s situation, risks, stakeholders, and market.
Don’t overuse models. Mention them when helpful, but always apply them practically to the scenario.
Give pros and cons, consider stakeholder perspectives, and offer a clear recommendation—not just one-sided arguments.
Leave 2–3 minutes at the end of each section to review and tidy up your answer. Don’t let one tricky task derail your timing.
You’ve done the work. Trust your preparation, be structured, and remember: clear, relevant, practical advice is what earns marks.
No—but you must understand the basics so you can evaluate commercial impacts. Focus on business implications, not physics.
Yes, but only if relevant. You won’t be marked down for ignoring global issues, but relevant insights can strengthen your answer.
You don’t need a calculator, but knowing how to interpret gearing, interest cover, and NPV/IRR logic is essential for F3 tasks.
At least 3–4 full mocks, ideally with feedback. Use them to improve timing, structure, and confidence.
Yes! We’re publishing a full study guide later this week. Stay tuned for our blog post:
👉 How to Pass SCS
If you’re serious about passing, our CIMA SCS Leothayre course gives you everything you need:
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