AsiaSat Reports 2015 Interim Results

Hong Kong, August 27, 2015--Asia Satellite Telecommunications Holdings Limited (‘AsiaSat’ – SEHK: 1135), today announced its 2015 interim results for the six months ending June 30, 2015. 1st Half 2015 turnover was HK$ 641 million, down 8% compared to same period last year primarily due to lower short-term revenue generated in the current period. 

Contracts on hand as ofJune 30, 2015 was valued at HK$3,645 million.

1st Half 2015 profit attributable to equity holderswas  HK$ 250 million, compared to HK$ 283 million in the same period last year. The decline was mainly the result of lower revenue, partially mitigated by the lower depreciation charge. 

Interim dividend was  HK$0.18 per share, the same as last year. A special dividend of HK$11.89 per share was paid on 30 July 2015 to registered shareholders.

AsiaSat’s Chairman, Gregory M. Zeluck, said, “The first six months of 2015 were challenging for AsiaSat and the satellite sector as a whole. The company does not expect significant positive change in the market environment in the second half.  Due to delays in licensing approvals, it is taking longer than expected to lease out the transponder capacity of AsiaSat 6 and AsiaSat 8 while the depreciation of both satellites will commence in the second half of the year.  A modest percentage of the company revenues are denominated in RMB.  Should the recent volatility of  the RMB continue, it will have a negative impact on the second half performance. In addition, the added interest expenses arising from the AsiaSat 6 and 8 Ex-Im loans and the bank loan raised for the special interim dividend payment will impinge on the earnings of the company in  the second half of the year.”    

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