AsiaSat Releases 2013 Annual Results
[Via Satellite 03-20-2014] AsiaSat has released its 2013 annual results, reporting a decrease in turnover, profit and operating expenses.
Turnover decreased 16 percent from 2012 to 2013, mainly due to previous year’s one-off revenue of approximately $40 million, a result of the Finance Act in India in May 2012. A lower transponder lease rate from one of the company’s anchor customers was also partially to blame for the decrease.
AsiaSat reported that operating expenses decreased 23 percent from 2012, due to net exchange gains on the revaluation of bank deposits denominated in RMB and Indian tax payable denominated in Indian Rupees. The company’s profit decrease was a result of the one-time gain from discontinued operations arising from the disposal of SpeedCast Holdings Limited in 2012.
AsiaSat’s current satellites in orbit, AsiaSat 3S, AsiaSat 4, AsiaSat 5 and AsiaSat 7, remain in service throughout the Asia-Pacific region, and the company is planning the launches of AsiaSat 6 and AsiaSat 8 in the second quarter of 2014 with SpaceX. The satellites are expected to provide additional capacity for existing growth markets and exploit new opportunities. The company is also planning on fully replacing AsiaSat 3S with AsiaSat 7 in the second quarter, and will begin designing AsiaSat 9, the replacement to AsiaSat 4, expected to launch in 2017.