Hispasat revenues up 15%
April 29, 2022
By Chris Forrester
Madrid-based satellite operator Hispasat, now 89 per cent owned by Red Eléctrica Group, has unveiled an impressive set of results. Its full year revenues grew 14.9 per cent and its EBITDA margin was an industry leading 75.2 percent (from 74.3 per cent).
This past year has seen Hispasat, almost free from its former state control (although Spain’s CDTI holds 2.91 per cent; and Spain’s SEPI retains 7.41 per cent), acquire Telefonica’s LatAm video distribution business and, in March, also bought teleport operator Axess Networks (which is valued at $96 million).
Overall revenues for 2021 were €181 million (€136.2 in 2020). Its net profit was €55.8 million.
In January 2023 Hispasat expects to add its Thales Alenia-built Amazonas Nexus satellite launched by SpaceX. Amazonas Nexus will carry Ku- and Ka-band payloads and will replace the Amazonas 2 satellite at 61 degrees West. Its coverage includes the Americas and the North and South Atlantic air and maritime corridors.
Hispasat also had a modest stake (with Japan’s SkyPerfect JSAT) in start-up LeoSat but that project has ended. Hispasat is still keen on participating in a LEO broadband constellation.