Hispasat overcomes Amazonas 4 problems, shows 9% growth in LATAM
DetailsJuan Fernandez Gonzalez | 20 February 2015
In spite of having just ended a difficult 2014 in which problems with the Amazonas 4 satellite put the company's position in Latin America at risk, Spain's Hispasat is showing it has still a strong hold in the region, where its revenues grew by 9%, driving the company to invoice over €202 million worldwide.
According to the company, intense commercial action has opened the doors to new markets and more than compensated for the shrinking European economy, the fault registered in the Amazonas 4A and the negative impact of exchange rates.
In 2014, Hispasat secured a total revenue of €202.1 million, nearly matching that of 2013, but now Latin America has become the company's greatest income generator.
The Latin American, Central American and North American markets have generated a revenue of €119.5 million, meaning a 9% increase on 2013 figures in this area. Hispasat was also able to make further capacity available on the market at 55.5º West, as a result of its agreement with Intelsat, in order to cover the Amazonas 4 electrical fail.
"Strengthening the turnover in a year in which we successfully faced a variety of difficulties and set-backs demonstrates the dynamism of the company's strategy and organisation, upon being able to adapt to significant changes in our line of work," explained Hispasat's president Elena Pisonero. "This enables us to present strong, balanced figures and face 2015 with optimism".
Investments in 2014 totalled €150.8 million and were used to back space capacity expansion plans by adding three new satellites to company's fleet, namely the AG1, Amazonas 5 and Hispasat 1F.
Throughout fiscal year 2014, Hispasat continued to provide services to telecommunications and broadcasting operators in the audiovisual sector, in addition to supplying the business and government sectors, with which the group has significant experience.