2009 interim results 19 september 2009. agenda financial highlights updates on operations business...
TRANSCRIPT
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2009 Interim Results
19 September 2009
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AgendaAgenda
Financial HighlightsFinancial Highlights
Updates on OperationsUpdates on Operations
Business OutlookBusiness Outlook
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Financial Highlights
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1H/2009
(HK$ M)
1H / 2008(HK$ M)
Turnover 229.5 198.0
Profit Attributable
to Equity
Shareholders
52.8 6.9
Interim Results
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42%
53%
5%
34%
60%
6%
0%
20%
40%
60%
80%
100%
1H/2008 1H/2009
BroadcastingTelecomOther
Turnover Breakdown by Business
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Turnover Breakdown by Region
40%33%
13% 13%16% 16% 14%
22%17% 16%
0%
20%
40%
60%
80%
100%
China HK S'pore Indonesia Others
1H/2008 1H/2009
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1H/2009
(HK$ M)
1H/2008
(HK$ M)
Turnover 229.5 198.0
Cost of Services (132.9) (141.5)
Gross Profit 96.6 56.5
Other net income 7.3 8.9
Revaluation (losses)/gains on Investment Property
(0.2) 0.1
Administrative Expenses (34.2) (47.6)
Profit from Operations 69.5 17.9
Consolidated Income Statement (1)
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1H/2008
(HK$ M)
1H/2008
(HK$ M)
Profit from Operations 69.5 17.9
Finance costs - (15.0)
Share of profits of jointly controlled entities Gain on disposal of a subsidiary
--
2.03.2
Profit before taxation 69.5 8.1
Income tax (16.7) (1.3)
Profit after taxation 52.8 6.8
Attributable to:
Equity shareholders of the Company 52.8 6.9
Minority interests - (0.1)
Profit after taxation 52.8 6.8
Earnings per share – Basic (HK cents) 12.78 1.67
Consolidated Income Statement (2)
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Expenses Breakdown
69%
80%
24%20%
7%0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Cost of Services Admin. Exp. Finance Cost
1H/2008
1H/2009
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Cost of Service Breakdown
77% 77%
14% 14%7% 8%
2% 1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Depreciation Insurance Licence & OrbitSlot Fees
Satellite-basedTelecom
1H/2008
1H/2009
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EBITDA Margins
Note: EBITDA Margin represents earnings before interest income / expenses, other income, taxation, depreciation, amortization, impairment loss and share of results of jointly controlled entities as a percentage of turnover.
62%72%
0%
20%
40%
60%
80%
100%
1H/2008 1H/2009
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Asset & Liabilities
Total Assets HK$2,861 million
Total Liabilities HK$771 million
Bank borrowings due within one year
HK$46 million
Bank borrowings due after one year
HK$187 million
(As at 30 June 2009)
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Gearing
37%
27%
51%
34%
0%
10%
20%
30%
40%
50%
60%
1H/2008 1H/2009
Debt-equity ratio
Debt-ratio
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Cash
Free Cash: HK$629 million
Pledged Deposit : HK$7 million
(As at 30 June 2009)
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Updates on APT’s OperationsUpdates on APT’s Operations
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Transponder Utilization Rates
As at
30 June 09
As at
30 June 08
APSTAR 6 70.3% 53.0%
APSTAR 5 80.6% 67.4%
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Built on SS/L FS1300 and commenced operation in August 2004 with life is over 15 years
APT keeps 21 C & 10 Ku
Provides versatile services including DTH, internet, VSAT services in the region with interconnection to USA
One of the two beacon transmitters onboard of APSTAR 5 has suffered from an anomaly, which does not affect the normal operation of the satellite
APSTAR 5
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APSTAR 6
Thales Alenia (Alcatel) SB4100C1
Started operation in 7 June 2005
High-power satellite with 38 C-band and 12 Ku-band
Operation mission life over 15 years
Equipped with advanced anti-jamming feature
Increase potential on utilization rates
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APSTAR 2R
Built on SS/L FS1300 and commenced operation in November 1997 with 15 years life
APT terminated the Lease Agreement with Telesat on 9 July 2009 and took up 43 transponders with corresponding customer contracts
The C-band transponders cover Europe, Asia, Africa, and Australia, approximately 75% of the world’s population and Ku-band transponders mainly cover China
High filling rate for C transponders
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Satellite TV Broadcasting Platform
APT Satellite TV Development Ltd. (A Subsidiary)APT Satellite TV Development Ltd. (A Subsidiary)
Successfully established a satellite TV uplink and broadcasting services platform for broadcasting services under the Satellite TV Uplink and Downlink Licence of Hong Kong SAR
As at June 30, 2009, the Broadcasting Platform uplinks and broadcasts up to 93 satellite TV channels
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APT Telecom Services LimitedAPT Telecom Services Limited (( a subsidiary)a subsidiary)
Provides VSAT, wholesales voice services, facilities management services and teleport uplink services to Hong Kong and Asian telecom users including satellite operators, telcos, ISPs & wholesale voice players
Provides two-way satellite internet services and teleport uplink services
Satellite-basedSatellite-basedTelecommunications ServiceTelecommunications Service
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Data Centre
Continue to provide Data Centre business with cooperation with internationally renowned IT firm
Support broadcasting and telecom services of the Group
Additional Revenue will start in 2H 2009
Future growth potential
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New Satellite – APSTAR 7
A new satellite is planned to replace APSTAR 2R which will expire in Q4 2012 To boost customer base To cope with the market change with better
services and latest advanced technology To sustain business continuity To achieve revenue and profit growth
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Business Outlook
Business environment has not fully recovered from global financial crisis
Market competition still be fierce due to supply over demand
Demand for transponders and services are still affected by economic uncertainty
APT will leverage the increase in business growth from APSTAR 2R and better competitive edges for better performance
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APT Satellite Holdings Limited
www.apstar.com