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2010 Annual Report
24 March 2010
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Financial Highlights Operations ReviewBusiness Prospects
Financial Highlights
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2010
(HK$ M)
2009(HK$ M)
Turnover 719.4 578.1
Profit Attributable to
Equity Shareholders198.5 254.1
Profit excluding Non-
Recurring Tax item in
2009
198.5 165.2
Annual Results (2)Annual Results (2)
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77
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2010
(HK$’000)
2009
(HK$’000)
Turnover 719,435 578,115
Cost of services (369,359) (322,049)
Gross profit 350,076 256,066
Other net income 5,242 35,535
Valuation gain/(loss) on investment properties 233 (295)
Administrative expenses (76,788) (80,680)
Profit from operations 278,763 210,626
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2010
(HK$’000)
2009
(HK$’000)
Profit from operations 278,763 210,626
Finance costs (6,330) (4,868)
Gain from liquidation of a subsidiary _ 6,146
Profit before taxation 272,433 211,904
Income tax (expenses)/credit (73,934) 42,180
Profit after taxation 198,499 254,084
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Note: EBITDA Margin represents earnings before interest income / expenses, other income, taxation, depreciation, amortization and impairment loss as a percentage of turnover.
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2010(HK$ Million)
2009(HK$ Million)
Total Assets 3,802 3,119
Total Liabilities 1,315 829
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(As at 31 December 2010)
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2010(HK$ Million)
2009(HK$ Million)
Free cash 121 276
Pledged deposits 77 8
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(As at 31 December 2010)
Operations Review
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1919
2010 2009
APSTAR 6 78.7% 70.8%
APSTAR 5
(APT’s transponders)
80.6% 80.5%
APSTAR 2R 83.2% 87.4%
2020
APSTAR 6APSTAR 6 Launched in April 2005, positioned at
134⁰E orbital slot
High-power satellite with 38 C-band and 12 Ku-band transponders
Started commercial operation in June 2005
Operation mission life over 15 years
Maintained high utilization rate with further growth potential
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Launched in June 2004, positioned at 138⁰E orbital slot
Commenced operation in August 2004
APT keeps 20 C-Band & 9 Ku-Band Transponders
The mission life is about 15 years
Maintained high utilization rate with further growth potential
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Launched in October 1997, positioned at 76.5⁰E orbital slot contains 28 C-band transponder and 16 Ku transponders.
APT terminated the Lease Agreement with Telesat on 9 July 2009 and took up 43 transponders with reputable customers
The C-band transponders cover Europe, Asia, Africa, and Australia, approx. 75% of the world’s population
High filling rate for C-Band transponders with strong income stream
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SpaceBus 4000 C2 platform, Scheduled to be launched in Q1 2012 to replace APSTAR 2R
Same orbital slot as APSTAR 2R with 28 C and 28 Ku transponders to ensure seamless service transition for customers
Welcome by customers of APSTAR 2R, including HBO, to continue their services with APSTAR 7
Ku-band transponders are built with China Beam, Middle East and North Africa Beam, African Beam, and Steerable Beam, APT can further expand the satellite capacity and coverage of the Group to above said regions
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As a back up satellite of APSTAR 7, from same suppliers
Based on Spacebus 4000 C2 platform with 28 C-Band & 23 Ku-Band transponders
Scheduled to be delivered in Q2 2012 in case launch failure of APSTAR 7
To be transferred to China Satellite Communications Co. Ltd. in case APSTAR 7 is successfully launched to recoup the capital expenditure made for APSTAR 7B
It is a very successful arrangement because the Group can save up enormous amount of back-up satellite investment, and meet the time schedule requirement.
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Satellite TV Broadcasting Services APT Satellite TV Development Ltd.
Television Service Licence renewed in February 2010 for another 12 years.
Satellite-based Telecommunications Services
APT Telecom Services Limited. New broadcasting customers including Xin Hua News.
Transponder lease services have been successfully established new customers and explored markets in Nepal, Philippines, Cambodia, Indonesia, India, New Zealand
Business Prospects
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Global economy and politics still holds uncertainties, however Supply and demand of transponders has been maintained at a stable level resulting sustainable growth
Fierce market competition
Steady growing demand for transponders and services
Replacement Programme boosts market confidence and gear up the promotion and sales of the Ku-Band transponders of APSTAR for emerging markets in Asia, Middle East, Africa.
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APT Satellite Holdings
Limited
www.apstar.com
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