2008 annual report 7 april 2009
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2008 Annual Report
7 April 2009
2
Financial Highlights
Updates on Operation
Financial Highlights
4
2008
(HK$ M.)
2007
(HK$ M.)
Turnover 403.7 451.6
Profit Attributable
to Equity
Shareholders
49.6 5.6
Annual Results
5
33%
62%
5%
37%
59%
4%
43%
52%
5%
0%
20%
40%
60%
80%
100%
2006 2007 2008
BroadcastingTelecomOther
Turnover Breakdown by Business
6
49%
38%41%
14%14%13% 12%14%13%12%
20%19%13%14%14%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
China HK S'pore Indonesia Others
2006
2007
2008
Turnover Breakdown by Region
7
2008
(HK$ M)
2007
(HK$ M)
Turnover 403.7 451.6
Cost of Services (277.6) (314.8)
Gross Profit 126.1 136.8
Other net income 68.9 26.3
Administrative expenses (84.9) (81.9)
Valuation (losses) / gains on investment properties
- 0.2
Impairment Loss recognised in respect of property, plant and equipment
(8.4) -
Consolidated Income Statement (1)
8
2008
(HK$ M)
2007
(HK$ M)
Profit from operations 101.7 81.4
Finance costs (24.8) (55.3)
Share of results of jointly controlled entities 2.4 (1)
Gain on disposal of a subsidiary 3.2 -
Gain on disposal of a jointly controlled entity 9.6 -
Profit before taxation 92.1 25.1
Income tax (42.6) (20.4)
Profit for the year 49.5 4.7
Minority interest (0.1) (0.9)
Profit attributable to shareholders 49.6 5.6
Profit per share – Basic (HK cents) 12.00 1.35
Consolidated Income Statement (2)
9
69% 70% 70%
18% 18%22%
13% 12%6%
0% 0% 2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Cost ofServices
Admin. Financecosts
I mpairmentloss
2006 2007 2008
Expenses Breakdown
10
71%77%
14% 14%5% 5%
9%
1% 1% 3%
0%
20%
40%
60%
80%
100%
Depreciation Insurance Licence & OrbitSlot Fees
Satellite-basedBroadcasting and
Telecommunication
Others
2007
2008
Cost of Service Breakdown
11
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.
53%62% 63%
0%
20%
40%
60%
80%
100%
2006 2007 2008
EBITDA Margins
12
Assets & Liabilities
HK$ Million
Total Assets 2,546
Total Liabilities 506
(As at 31 December 2008)
13
Gearing
25%
58%
72%
42%37%
20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
2006 2007 2008
Debt-equity ratio
Debt-ratio
14
Cash
Free Cash: HK$122 million
Pledged Deposit : HK$1 million
(As at 31 December 2008)
Updates on APT’s OperationsUpdates on APT’s Operations
16
Transponder Utilization Rates
31 Dec 07 31 Dec 08
APSTAR VI 59% 72%
APSTAR V
(APT’s transponders)
72% 83%
17
SS/L FS1300
Commenced operation in August 2004
APT keeps 21 C & 10 Ku
The mission life is about 15 years
Utilization rates remains high with further increase potential
APSTAR V
18
APSTAR VI
Thales Alenia Space (f/k/a Alcatel Space) SB4100C1
High-power satellite with 38 C-band and 12 Ku-band
Started commercial operation on June 7, 2005
Operation mission life over 15 years
Utilization rate increased significantly
19
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 December 31, 2008, the Broadcasting Platform uplinks and broadcasts up to 87 satellite TV channels
APT Telecom Services LimitedAPT Telecom Services Limited (( a subsidiara subsidiary)y)
Provides VSAT and teleport uplink services to Hong Kong and Asian telecom users including satellite operators, telcos & ISPs
Provides two-way satellite internet services and teleport uplink services
Satellite-basedSatellite-basedTelecommunications ServiceTelecommunications Service
Data Centre
Disposed APT Satellite Telecommunication Ltd., which provide Data Centre Business with its Telepark
Continue to provide Data Centre business in Tower 2 with cooperation with internationally renowned IT firm for an airliner of Hong Kong
Support broadcasting and telecom services of the Group
Additional Revenue will start in 2H 2009
Future growth potential
22
New Satellites in China Market
Two new satellites launched in mid 2007 and one in 1H 2008
More satellite launching will result in intensive market competition
Cope with the market change with better services
As a whole, APT’s performance was not adversely affected
Business Outlook
Global financial crisis leads to unfavourable business environment
Market competition still be fierce due to supply over demand
Market demand for transponders and services may be affected by financial crisis
Better competitive edges further improves utilization rates
APT Satellite Holdings Limited
7 April 2009
www.apstar.com
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