Hispasat's profits up

Iñaki Ferreras

The profits of Spain's satellite operator Hispasat went up 55% in the first half of this year compared with last, to €29.5 million. The rise was thanks to better revenues and also to the maintaining of a eficient company structure.

Hispasat’s revenues amounted to €75.5 million in this period, 10.9% more than in the same period last year. Of this figure nearly all (€74.1 million) corresponded to the space capacity out of which €49.8 million was generated by the operator and the rest (€24.3 million) by subsidiaries of the group in Brazil.

EBITDA reached €60.4 million, 8% more than in the same period the previous year while operating expenses were placed at €51 million, meaning savings of 18.6% in comparison to figures included in the budget corresponding to the first half of this year.

Hispasat's management explained thanks to last year’s results and also to the solid growth of the operator forecast for the next years the company has been able to share out €11.4 million among the shareholders, growth of 28.1% with regard to the previous fiscal year. "This figure allows us to maintain a high level of profitability per shares and at the same time to have the necessary resources in order to continue with the process of investments within our Growth Plan which will double the space capacity in orbit and at the same time it will better the competitve position of the company in its target markets," Hispasat said.