Hispasat H1 helps Red Eléctrica
August 2, 2021
By Chris Forrester
Madrid-based satellite operator Hispasat, which is now 89.68 per cent owned by Red Eléctrica (REE), earned a net profit of €14.4 million in the first half of this year compared to €0.2 million the previous year.
Total turnover was €85.5 million, an increase of 6.7 per cent compared to the previous year, and EBITDA reached €65.3 million, an increase of 9.1 per cent compared to the same period last year.
Hispasat’s performance helped the numbers at Red Eléctrica. Hispasat’s good half-year results has had a positive impact on REE’s consolidated accounts. Thanks to the profit from the satellite subsidiary and that from an international subsidiary of €16.9 million, Red Eléctrica has presented a consolidated profit that grew 8 per cent compared to the previous year.