Hispasat: Lower profits despite higher revenues
June 21, 2013
By Chris Forrester
Madrid-based Hispasat says that it is now doing more business in the Americas, mostly South America, than Europe. Brazil is the regional winner where Hispasat has seen steady growth wheras its European revenues have mostly been flat.
Hispasat is on an expansion drive. Earlier this year its giant Amazons 3 craft was launched to 61 degrees West, allowing the operator to shift its original Amazonas 1 satellite to a new working location at 36 degrees West. The larger satellite adds 9 new Ka-band transponders to its working fleet. Hispast also has 3 new spacecraft on order and says that it expects to invest almost €300 million between now and 2016 on the fleet additions.
Revenues for last year, unveiled June 20th, totalled €200.3 million, up 6.9 per cent. Pretax profits, at €68.7 million, were down 7.5 per cent. However, EBITDA was an attractive 80.4 per cent, an excellent level when compared to its peer group of operators, but down from 82.5 per cent a year year ago.