Investor Presentation - AsiaSat...Types of Satellites 3 • Communications, Weather, Imaging, Data...
Transcript of Investor Presentation - AsiaSat...Types of Satellites 3 • Communications, Weather, Imaging, Data...
Investor Presentation
November 2017
AsiaSat Proprietary and Confidential
Satellite 101 (Overview)
Types of Satellites
3
• Communications, Weather, Imaging, Data Relay, Spy,
Navigation (GPS)
• Orbits
Low Earth Orbit – LEO – 700-2000Km above earth
Medium Earth Orbit – MEO – 8000-20000Km above earth
Geostationary Orbit – GEO - approx. 36000Km above
earth’s equator
Satellite Operation
4
From an Operation’s Point of View the satellite is required to maintain its
footprint over the designated coverage area.
Satellite Frequencies
5
C-band• 3-8 GHz
• Lower Power
• Used for wider coverage, less loss
Ku-band• 10-18 GHz
• Higher Power
• Used for smaller coverage, high loss
Ka-band• 26-40 GHz
• Very High Power
• Small spot beam coverage, very high loss
Satellite Fleet
7
AsiaSat’s In-orbit Satellite Fleet
AsiaSat 3S
122˚E 11 Apr 2003 28 C + 20 Ku
AsiaSat 4
Fleet of 7 satellites providing instantaneous access to
two-thirds of the world’s population
100.5˚E 12 Aug 2009 26 C + 14 Ku
AsiaSat 5
Nominal Orbital Location Launch Date Payload
AsiaSat Presentation
146˚E 21 Mar 1999 28 C + 16 Ku
8
AsiaSat’s In-orbit Satellite Fleet
AsiaSat 6
AsiaSat 7
4˚W 5 Aug 2014 24 Ku (fully leased)
+ Ka
AsiaSat 8
Fleet of 7 satellites providing instantaneous access to
two-thirds of the world’s population
122˚E 29 Sep 2017 28 C + 32 Ku + Ka
AsiaSat 9
Nominal Orbital Location Launch Date Payload
AsiaSat Presentation
105.5˚E 26 Nov 2011 28 C + 17 Ku + Ka
120˚E 7 Sep 2014 14 C
AsiaSat 9 – Asia’s Next Generation Satellite
Successful Launch on 29 September 2017
9
After CATR testing at SSL facilityAsiaSat 9 launch by Proton
M/Breeze M rocket
AsiaSat Fleet C-band Coverage
10AsiaSat Presentation
AsiaSat Fleet Ku-band Coverage
11AsiaSat Presentation
Our Company and What We Do
AsiaSat Introduction
13
Vision Statement
“To be the foremost satellite solutions provider in Asia and the
instinctive and desired partner of choice”
Asia Satellite Telecommunications Company Limited
(AsiaSat)
• Owns and operates communications satellites
• Offices - Hong Kong (Wanchai, Tai Po) & Beijing
• Employees: 140
• Provides capacity to Broadcast and Telecom clients
• Serving 2/3 of the world’s population with our satellite fleet
• Prominent global and regional customer base: Turner, FOX Networks
Group, ZEE, CCTV, China Telecom, Panasonic Avionics, Speedcast…
AsiaSat Shareholding
14
CITIC Group Corporation (PRC)
Carlyle Asia (USA)
Bowenvale Ltd. (BVI) Public
Asia Satellite Telecommunications Holdings Limited (Incorporated in Bermuda)
50.5% 49.5%
74.43% 25.57%
AsiaSat BVI Limited (Incorporated in BVI)
100%
100%
37.59% 36.84%
Asia Satellite Telecommunications Company Limited (Incorporated in Hong Kong)
Listed on HKSE
Sources of Revenue
15
Business Segment 1H 2017 2016
Broadcasting 70% 67%
Telecom/Broadband Distribution 30% 33%
Broadcast and Video Distribution
16
• Transmit 600+ channels from 250+ public & private radio & TV stations
• Broadcast TV & radio services in 40+ languages
• Accessing 830m+ Asian households
Telecom Networks – 2-way Transmission
VSAT Broadband VSAT Backhaul
17
World-class service quality and reliability from
Tai Po Earth Station in Hong Kong
AsiaSat Tai Po Earth Station
• 24/7 broadcast and operations centre
• Satellite carrier monitoring
• Downlink, turnaround and uplink
• Fibre connectivity
• DVB-S2/S MCPC platform
• Channel Encryption
• Data Centre hosting
• Playout service
• Broadway® Internet connectivity service
• Disaster recovery facilities
• Occasional Use and SNG services
• Satellite transfer orbit service
AsiaSat’s Teleport Services
18
Market Outlook
• Video consumption is increasing with viewing habits shifting by
genre and age demographics
• Nevertheless linear TV remains central to audience viewing habits
• Regional HD penetration of 20% represents an ongoing growth
market for all operators in the region
• Disruptive technologies impacting PayTV subscriber revenue but
AsiaSat channel count remains stable
• Telecoms market is in transition with some price erosion resulting
from excess capacity and anticipation of HTS pricing ‘today’
• Mobility and cellular backhaul are the main growth drivers as
‘Satellite’ becomes the go-to solution for remote and underserved
fibre areas
• In-flight and cruise ship connectivity demands are growing
exponentially off the back of the emerging Asian middle class with
disposable income needing to be ‘connected’ whilst travelling
19
Business Development and Future Strategy
Business Development and Future Strategy
21
• Protect and grow our core video business
• Position ourselves to be competitive in the future data business through HTS technology
• M&A to expand service portfolio and scale
22AsiaSat Presentation
2017 Interim Result
Financial Highlights for 2017 Interim Result
• Revenue flat
• EBITDA down 6%
mainly arising from one-off reversal of staff bonus provision in prior period and higher unrealized
exchange loss.
• Net Profits down by 28%
In addition to the above factors, decrease is also due to a higher finance expenses (due to lower
amount of interest to be capitalised), a one-off reversal of tax provision in prior period.
• Interim dividend of HK$0.18 per share
• Backlog remained stable at US$522.6 million, compared to US$521.4
million at 31 December 2016
• Utilisation rate up to 73%, compared to 67% at 31 December 2016
• Gearing ratio dropped to 45%, compared to 49% at 31 December 2016
23
24
Financial Highlights for 2017 Interim Result
1H 2017 1H 2016 Change
HK$M HK$M %
Revenue 642.4 640.0 0%
EBITDA 490.6 523.1 -6%
Operating Profit 230.9 242.1 -5%
Income Tax Expenses 51.2 (7.0) N/A
Net Profit 179.6 249.2 -28%
Earnings Per Share (HK$) 0.46 0.64 -28%
Dividend Per Share (HK$) 0.18 - N/A
Financial Highlights for 2017 Interim Result
642.4
490.6
179.6
640
523.1
249.2
0
100
200
300
400
500
600
700
Revenue EBITDA Net Profit
HK$M
1H 2017 1H 2016
25
90% 90%
10% 10%
0
100
200
300
400
500
600
30/06/2017 31/12/2016Non-PRC PRC
26
Financial Highlights for 2017 Interim Result
US$M
522.6 521.4
Backlog
27
Financial Summary for past 5 years
1,884.9
1,498.6
1,364.9 1,311.1
1,272.4
1,556.50
1,307.80
1,104.501,058.40 1,028.50
914.5
747.6
559.1
439.8 430
-
200.0
400.0
600.0
800.0
1,000.0
1,200.0
1,400.0
1,600.0
1,800.0
2,000.0
12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016
Turnover EBITDA Net Profit
28
AsiaSat Financials
HK$M
-
200.0
400.0
600.0
800.0
1,000.0
1,200.0
1,400.0
1,600.0
1,800.0
2,000.0
12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016
Turnover for the year
Hong Kong Greater China Other Region
HK$M
29
AsiaSat Financials
1,884.9
59%
1,498.61,364.9
1,311.1 1,272.4
63%63% 63% 61%
14%
22%20% 22%27%
25%
17% 15% 14%15%
AsiaSat Financials
-
2.00
4.00
6.00
8.00
10.00
12.00
14.00
12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016
1.92 2.42
0.57
12.07
0.20
Dividend per share for the yearHK$
30
AsiaSat Financials
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016
79.20%73.70% 75.40%
72.30%67.30%
Satellite Utilisation at Year End
31
-
100.0
200.0
300.0
400.0
500.0
600.0
12/31/2012 12/31/2013 12/31/2014 12/31/2015 12/31/2016
470.3 457.2 409.4 411.7
470.8
34.3 32.5
41.1 39.2
50.6
Backlog Revenue at Year End
Non PRC PRC
US$M
32
AsiaSat Financials