Asia Satellite Telecommunications Holdings Limited reported on Friday turnover rose 10% to US$242.8 million (HK$1.884 billion) in 2012 while net profit grew by 11% to US$117.8 million (HK$914.491 million).
AsiaSat said its consolidated turnover in 2012 increased by US$21.5 million (HK$167 million) after the company disposed of its entire interest in SpeedCast, its 100% wholly owned VSAT operation, in September 2012. The sale resulted in a gain of US$15.33 million (HK$119 million) in the company’s net profit for 2012.
AsiaSat chairman, JU Wei Min, said he remains optimistic about prospects for 2013. “Our market position is strong, and we continue to be regarded as the industry leader in Asia. Although some of our customers faced budgetary constraints during the year, our clientele mostly remained loyal to us based on our ability to offer a full range of high quality satellite services and support their business development,” he said.
But he added achieving another record in 2013 will be a challenge as deterioration in global economic climate tempered the company’s performance.
“Approaching 2014, however, we can look forward to the launches of AsiaSat 6 and AsiaSat 8, which will give us the added capacity to serve new customers and to meet the expansion needs of our existing customers,” he said.
Asiasat reported its operating expense dropped to US$31.94 million (HK$248 million) compared to US$35.29 million (HK$274 million) in 2011 due to reduction in customer debts. Net cash outflow was US$20.87 million (HK$162 million). The company said it continues to be debt free.
In 2012, AsiaSat said it continued to provide reliable and uninterrupted service to our customers serving end-users in more than 50 countries and nearly two-thirds of the world’s population.
The total number of transponders leased or sold as of 31 December 2012 was 105, compared to 108 in 2011, with an overall year end utilization rate of 79%.
New contracts won during the year amounted to a total value of US$20.87 million (HK$162 million) compared to US$70.97 million (HK$551 million) in 2011, while renewed contracts were worth US$313.54 million (HK$2,434 million) compared to US$78.19 million (HK$607 million) in 2011.
During the year, Space Systems/Loral commenced construction of two new satellites for the AsiaSat fleet: AsiaSat 6 and AsiaSat 8. Both SS/L 1300 satellites were on track during the year for their launch in the first half of 2014.
AsiaSat said these additions to its fleet will take us from four satellites to six and will expand its capability to meet the increasing demand for quality satellite capacity in the Asia-Pacific region.
Once in operation, AsiaSat 6 will have 28 high-powered C-band transponders, and AsiaSat 8 will have 24 Ku-band transponders and a Ka-band beam. The two satellites will be able to offer power and additional beam coverage across Asia, the Middle East and Australasia. AsiaSat 6 is expected to open new market opportunities for AsiaSat, following a unique arrangement signed with Thaicom Public Company Limited (Thaicom) that enables us to share certain frequencies in the 120ºE orbital slot.
AsiaSat 8 will be co-located with AsiaSat 5 and will provide additional Ku-band capacity to provide services such as DTH television, private networks and data distribution.
