Advanced Television

Hispasat reports $600m backlog for Nexus

July 28, 2023

By Chris Forrester

Madrid-based Hispasat reported a 22 per cent increase in revenues for the half-year to June 30th, helped by the operator’s acquisition of services provider Axess Networks.

However, the company reported that a major contract in Brazil had come to an end. Hispasat’s owner Redeia valued the loss at about $30 million (€27.6m) a year, but this loss was matched in terms of income by the arrival of its latest Amazonas Nexus satellite launched in February 2023.

The company stated that Amazonas Nexus was already 80 per cent full on long-term contracts and had a backlog of some $600 million.

Redeia stated Hispasat’s revenue of €116.6 million for the first six months of 2023, up 22 per cent from the same period a year ago.

Redeia Chief Executive Roberto Garcia told analysts: “It’s the satellite with the biggest fill rate that we’ve ever seen. That will be worth over €40 million per year, so that’s very good news as we see the commissioning of Amazonas Nexus. Next year, we expect an impact that will be more than positive from Nexus in the accounts of the group, and they will more than offset the impact of the end of those lost contracts in Brazil.”

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