HISPASAT Reports Net Profit of 54.3 million euros in 2013

Madrid, Spain, June 26, 2014--HISPASAT, the Spanish satellite communications operator, held their Shareholder’s Annual Meeting,where the annual accounts for the 2013 tax year were unanimously approved. The Group has continued to grow, despite the adverse economic climate, and has earned a net profit of 54.3 million euros, 5.5% more than it reached in 2012. 

The HISPASAT Group achieved revenues of 201.4 million euros in 2013, 0.57% more than in the previous tax year. If we compare these revenues with those of 2012 at a constant rate, the increase would have been of 4.35%, since the exchange rates have had a negative impact on the results.

Currently, 55.6% (2.4% more than in 2012) of the total revenue for space capability rental comes from the Americas, and above all from Latin America. The remaining 44.4% of this revenue comes from the European market and North Africa. This geographical distribution of revenue underlines the consolidation of HISPASAT’s internationalisation process and has made it possible to counteract the adverse conditions that prevailed throughout 2013 in European markets, where the company’s activity began.

Consolidated EBITDA at the end of 2013 reached the figure of 163.8 million euros, 1.68% more than was earned in 2012. The EBITDA margin reached 81.35%, higher than the average for the sector.

In the last tax year, the company invested 157.4 million euros, mainly in innovation, both for the development of the fleet’s future satellites (Amazonas 4A —launched in March 2014—, Hispasat AG1 and Amazonas 4B) and for other research, development and innovation projects related to new solutions and services for their clients. In the period between 2006-2013, they have invested 777 million euros, mainly in satellite innovation projects, and the projected investment until 2016 is approximately 1 billion euros.

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