Spanish satellite opeator Hispasat achieved record revenues of 187.5 million euros in 2011--a new high for the company. Consolidated EBITDA was at 154.7 million euros, 7 per cent more than 2010. EBITDA margin increased 2.8 percentage points to 82.5 per cent, which shows HISPASAT´s efficient management in 2011, a year in which the company reduced operating costs 120.9 per cent from 2010.
Carlos Espinós, Chief Executive Officer of HISPASAT said of the results: “the results obtained in 2011 confirm the validity and strength of the business model established by HISPASAT, which is capable of increasing operating revenue even in such a complex context like the one we experienced last year, marked by the economic crisis. These figures allow us to maintain our position among the most important satellite operators in the world, the leader in content in Spanish and Portuguese, and indicate the high level of efficiency achieved by the company. This effective management, the robustness of our financial structure and our backing of innovation and service quality guarantee the continuity of HISPASAT´s growth in the future.”
The HISPASAT Group achieved, at the close of 2011, consolidated operating profit of 70.6 million euros (2.2 per cent more than 2010) and
consolidated before-tax result of 74.3 million euros (4.3 per cent more than the prior year). Of the total revenue registered by the Group in 2011, 182.4 million euros are derived from revenue from the leasing of space capacity, with 50 per cent from clients located in Europe and 49.1 per cent from clients in the Americas, where the commercial effort made has consolidated HISPASAT´s strong presence in the region, where it has a significant market share. The remaining 0.9 per cent is attributable to other regions.
Last April 12, the U.S. Export-Import Bank awarded Hispasat the 2012 "Deal of the Year" Award citing the bank gurantees totalling US$ 388.5 million for two Hispasat satellties built by Space Systems/Loral.
