HISPASAT earns a net profit of 54.3 million euros
June 25, 2014
The satellite operator's net profit has increased by 5.5% with respect to that of the 2012 tax year.
The Group launched the fleet's tenth satellite, the Amazonas 3, in 2013 and gained the right to a new orbital position, 36º West.
Today HISPASAT, the Spanish satellite communications operator, held their Shareholder’s Annual Meeting, in which the annual accounts for the 2013 tax year were unanimously approved. The Group has continued to grow, despite the adverse economic climate, and has earned a net profit of 54.3 million euros, 5.5% more than it reached in 2012. For another year, this result reflects the company’s financial strength and profitability.
The HISPASAT Group achieved revenues of 201.4 million euros in 2013, 0.57% more than in the previous tax year. If we compare these revenues with those of 2012 at a constant rate, the increase would have been of 4.35%, since the exchange rates have had a negative impact on the results.
Currently, 55.6% (2.4% more than in 2012) of the total revenue for space capability rental comes from the Americas, and above all from Latin America. The remaining 44.4% of this revenue comes from the European market and North Africa. This geographical distribution of revenue underlines the consolidation of HISPASAT’s internationalisation process and has made it possible to counteract the adverse conditions that prevailed throughout 2013 in European markets, where the company’s activity began.
Consolidated EBITDA at the end of 2013 reached the figure of 163.8 million euros, 1.68% more than was earned in 2012. The EBITDA margin reached 81.35%, higher than the average for the sector.
In today’s Shareholder’s Annual Meeting, the distribution of a 10.9 million euro dividend was also approved, which means a pay-out of 20% of the consolidated net result.
Among the facts to be highlighted from the 2013 tax year are the launch of the Amazonas 3 and gaining rights to a new orbital position, 36º West. Likewise, the restructuring of the shareholder base was concluded, whereby Abertis group increased its participation to 57.05%, thus making it the majority shareholder and bringing strong reinforcement to HISPASAT’s growth strategy.
During 2013, HISPASAT continued to work on diversifying its lines of business, offering new video and data services and driving new broadband solutions, emphasizing satellite internet access for mobility or the developments for Ultra High Definition transmission via satellite.
Moreover, the company has maintained its spirit of investing and innovating. In the last tax year, the company invested 157.4 million euros, mainly in innovation, both for the development of the fleet’s future satellites (Amazonas 4A —launched in March 2014—, Hispasat AG1 and Amazonas 4B) and for other research, development and innovation projects related to new solutions and services for their clients. In the period between 2006-2013, they have invested 777 million euros, mainly in satellite innovation projects, and the projected investment until 2016 is approximately 1 billion euros.
About HISPASAT Group
The HISPASAT Group is composed of companies with a foothold in Spain as well as in Latin America, where its Brazilian affiliate HISPAMAR sells its services. The Group is a leading Spanish- and Portuguese-language content broadcaster and distributor, including over important direct-to-home television (DTH) and high-definition television (HDTV) digital platforms. HISPASAT is one of the world's largest companies in terms of revenue in its sector, and the main communications bridge between Europe and the Americas.