Outlook Positive for Hispasat at Annual Shareholder’s Meeting

Hispasat global headquarters in Spain. Photo: Hispasat

[Via Satellite 06-27-2014] Hispasat held its annual shareholder’s meeting on June 25, 2014 to approve the annual accounts for the 2013 tax year, which were unanimously passed by the shareholders. The company’s net profit was just under $74 million for 2013, a 5.5 percent increase from 2012 profits. Revenues reached $274.2 million in 2013, a 0.57 percent increase compared to 2012. Comparing these revenues year-over-year factoring in exchange rates for the Euro, the increase would have been 4.35 percent.

More than 55 percent of total revenue for space capability rental comes from the Americas, with most of that coming from Latin America. The remaining 44.4 percent comes from the European market and North Africa. The distribution of a $14.8 million dividend was approved in the shareholder’s meeting, which means a payout of 20 percent of the consolidated net result.

The positive outlook for the company can be attributed to the launch of the Amazonas 3 satellite in 2013 and gaining rights to the new orbital slot at 36 degrees west. Hispasat also began offering new video and data services in 2013, and emphasized satellite broadband access for mobility and developments for Ultra-High Definition (Ultra-HD) transmissions. The company also invested $210.6 million in 2013, for projects such as developing new satellites Amazonas 4A and 4B, and for other research and development projects. During the meeting, the Abertis group increased its participation to 57.05 percent, making it Hispasat’s majority shareholder.