Asia Satellite Telecommunications Holdings Limited, Asia’s leading satellite operator, today announced its interim results for the six months ended 30 June 2018.
• 1H revenue up 14% to HK$730 million (2017: HK$642 million), substantially attributable to the full six-month revenues from the leases of AsiaSat 8 and AsiaSat 4, and additional revenue from new leases with video, data and occasional use customers
• 1H profit attributable to owners up 20% to HK$215 million (2017: HK$180 million), as a result of increased revenue, however partially offset by larger net finance and depreciation charges, and reduced one-off gain during the reporting period
• Net cash inflow of HK$271 million during the 1H (2017: HK$257 million), with cash and bank balances of HK$484 million as at 30 June 2018 (31 December 2017: HK$215 million)
• Interim dividend of HK$0.18 per share (2017: HK$0.18 per share)
• Overall payload utilisation of AsiaSat 5, 6, 7, 8 and 9 remained stable at 69% (126 transponders utilised/leased) as of 30 June 2018 (31 December 2017: 69%, 126 transponders utilised/leased)
• AsiaSat 3S and AsiaSat 4 continued to provide service in the Asia-Pacific and generate revenue for the company
• New capacity and expanded coverage from AsiaSat 9 and flexible deployment of in-orbit service beams over new markets attracted new business in VSAT-supported maritime and inflight services, and occasional use distribution of sports and news events in UHD and HD formats
• Procurement assessment of AsiaSat 10, potentially AsiaSat’s first HTS satellite continues to be in progress to better meet customer requirements
AsiaSat’s Chairman, Gregory M. Zeluck, said, “Despite the full benefits of the lease of the entire payload of AsiaSat 4 and the AsiaSat 8 Ku-band, intense price pressure that has impacted customer contract signing and renewals will offset part of these benefits, thus potentially affecting our performance in the second half. Nevertheless, given the Company’s positive cash position and the on-going, long-term strength of the AsiaSat video neighbourhood, underpinned by rising demand for video and other digital content, the outlook for the Company for the remainder of 2018 appears to be stable.”
“In the meantime, regional demographics, especially those impacted by the mobile savvy millennials with their newly significant disposable income and taste for mobility, are supported by the centrality of satellites to the regional communications industry,” Mr. Zeluck added.