Download - 1 2011 Interim Report 29 August 2011. 2 Financial Highlights Operations Review Business Prospects
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2011 Interim Report
29 August 2011
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Financial Highlights Operations ReviewBusiness Prospects
Financial Highlights
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1H/2010
(HK$ M)
1H/2011(HK$ M)
%
Turnover 363.2 372.1 2.5 %
Profit Attributable
to Equity
Shareholders
97.5 103.1 5.7 %
Interim Results Interim Results
The Board has resolved to declare an interim dividend of HK2.00 cents per share for the six months ended 30 June 2011, given the fact that profit attributable to equity shareholders rose 5.7% for the first half of 2011, and the need of the implementation of APSTAR 7 and APSTAR 7B Satellites for the replacement of APSTAR 2R.
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77
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1H/2010
(HK$M)
1H/2011
(HK$M)
Turnover 363.2 372.1
Cost of services (189.9) (181.3)
Gross profit 173.3 190.8
Other net income 3.0 2.8
Valuation gain on investment properties 0.1 0.1
Administrative expenses (39.3) (42.0)
Profit from operations 137.1 151.7
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1H/2010
(HK$ M)
1H/2011
(HK$ M)
Profit from Operations 137.1 151.7
Finance costs (3.7) (11.8)
Profit before taxation 133.4 139.9
Income tax (35.9) (36.8)
Profit after taxation 97.5 103.1
Attributable to:
Equity shareholders of the Company 97.5 103.1
Earnings per share – Basic (HK cents) 15.71 16.59
Earnings per share – Diluted (HK cents) 15.71 16.59
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Note: EBITDA Margin represents earnings before interest income / expenses, other income, taxation, depreciation, amortization and impairment loss as a percentage of turnover.
Operations Review
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30 June 2010 30 June 2011
APSTAR 2R 82% 84%
APSTAR 6 76% 73%
APSTAR 5
(APT’s transponders)
78% 79%
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Launched in October 1997, positioned at 76.5⁰E orbital slot contains 28 C-band transponder and 16 Ku transponders.
APT terminated the Lease Agreement with Telesat on 9 July 2009 and took up 43 transponders with reputable customers
The C-band transponders cover Europe, Asia, Africa, and Australia, approx. 75% of the world’s population
High utilization rate 84% with strong income stream
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APSTAR 6APSTAR 6 Launched in April 2005, positioned at 134⁰E
orbital slot
High-power satellite with 38 C-band and 12 Ku-band transponders
Started commercial operation in June 2005
Operation mission life over 15 years
Maintained high utilization rate with further growth potential
Strong market penetration in Asia Pacific region and China
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Launched in June 2004, positioned at 138⁰E orbital slot
APT keeps 20 C-Band & 9 Ku-Band Transponders
The mission life is about 15 years
Maintained high utilization rate with further growth potential
Strong competitive edge in Asia Pacific region
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SpaceBus 4000 C2 platform, Scheduled to be launched in Q1 2012 to replace APSTAR 2R
Same orbital slot as APSTAR 2R with 28 C and 28 Ku transponders to ensure seamless service transition for customers
Welcome by customers of APSTAR 2R, including HBO, to continue their services with APSTAR 7
Ku-band transponders are built with China Beam, Middle East and North Africa Beam, African Beam, and Steerable Beam, APT can further expand the satellite capacity and coverage of the Group to above said regions
Construction is smooth, and at final stage of assembly and testing
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Back up satellite of APSTAR 7, from same suppliers Based on Spacebus 4000 C2 platform with 28 C-Band
& 23 Ku-Band transponders Scheduled to be delivered in Q2 2012 in case launch
of APSTAR 7 is unsuccessful To be transferred to China Satellite Communications
Co. Ltd. in case APSTAR 7 is successfully launched to recoup the capital expenditure made for APSTAR 7B
It is a very successful arrangement because the Group can save up enormous amount of back-up satellite investment while meeting the time schedule requirement.
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2020
Satellite TV Broadcasting Services APT Satellite TV Development Ltd. for
Television Service Licence under Non-Domestic Television Programme Licence.
Satellite-based Telecommunications Services
APT Telecom Services Limited Transponder lease services have been
successfully established new customers and explored markets in Nepal, Philippines, Cambodia, Indonesia, India, New Zealand
Business Prospects
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Global economy and politics still holds uncertainties, however Supply and demand of transponders has been maintained at a stable level resulting sustainable growth
Steady growing demand for transponders and services
Replacement Programme of Apstar 2R boosts market confidence
Successful pre-launch sales of the Ku-Band transponders of APSTAR for emerging markets in Asia, Middle East, Africa.
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APT Satellite Group
www.apstar.com