2008 Interim Results
11 September 2008
AgendaAgenda
Financial HighlightsFinancial Highlights
Updates on OperationsUpdates on Operations
Business OutlookBusiness Outlook
Financial Highlights
1H / 2008(HK$ M)
1H / 2007(HK$ M)
Turnover 198.0 230.7
Profit Attributable
to Equity
Shareholders
6.9 5.0
Interim Results
27%
69%
4%
42%
53%
5%
0%
20%
40%
60%
80%
100%
1H/2007 1H/2008
BroadcastingTelecomOther
Turnover Breakdown by Business
Turnover Breakdown by Region
37% 40%
16%13%
8%16%
25%
14% 14% 17%
0%
20%
40%
60%
80%
100%
China HK S'pore Indonesia Others
1H/2007 1H/2008
1H/2008
(HK$ M)
1H/2007
(HK$ M)
Turnover 198.0 230.7
Cost of Services (141.5) (165.3)
Gross Profit 56.5 65.4
Other net income 8.9 12.7
Revaluation gain on investment
property
0.1 -
Administrative Expenses (47.6) (37.1)
Profit from Operations 17.9 41.0
Consolidated Income Statement (1)
1H/2008
(HK$ M)
1H/2007
(HK$ M)
Profit from operations 17.9 41.0
Finance costs (15.0) (28.7)
Share of results of jointly controlled entities Profit from disposal of business operation
2.03.2
(0.6)-
Profit before taxation 8.1 11.7
Income tax (1.3) (7.3)
Profit after taxation 6.8 4.4
Attributable to:
Equity shareholders of the Company 6.9 5.0
Minority interests (0.1) (0.6)
Profit after taxation 6.8 4.4
Earnings per share – Basic (HK cents) 1.67 1.22
Consolidated Income Statement (2)
Expenses Breakdown
71% 69%
16%24%
13%7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Cost of Services Admin. Exp. Finance Cost
1H/2007
1H/2008
Cost of Service Breakdown
67%
77%
15% 14%6% 7%
12%
2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Depreciation Insurance Licence & OrbitSlot Fees
Satellite-basedTelecom
1H/2007
1H/2008
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% 62%
0%
20%
40%
60%
80%
100%
YE/2007 1H/2008
Asset & Liabilities
Total Assets HK$3,027 million
Total Liabilities HK$1,028 million
Bank borrowings due within one year
HK$243 million
Bank borrowings due after one year
HK$339 million
(As at 30 June 2008)
Gearing
51%
34%
58%
37%
0%
10%
20%
30%
40%
50%
60%
70%
YE/2007 1H/2008
Debt-equity ratio
Debt-ratio
Cash
Free Cash: HK$283 million
Pledged Deposit : HK$79 million
(As at 30 June 2008)
Updates on APT’s OperationsUpdates on APT’s Operations
Transponder Utilization Rates
As at
30 June 08
APSTAR VI 53.0%
APSTAR V 67.4%
SS/L FS1300
Commenced operation in August 2004
APT keeps 23 C & 12 Ku
The mission life is over 15 years
High utilization rates with further increase potential
Provides versatile services including DTH, internet, VSAT services in the region with interconnection to USA.
APSTAR V
APSTAR VI
Thales Alenia (formerly known as Alcatel) SB4100C1
Started operation in 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
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, 2008, the Broadcasting Platform uplinks and broadcasts up to 81 satellite TV channels
APT Telecom Services LimitedAPT Telecom Services Limited (( a subsidiary)a subsidiary)
Provides VSAT, facilities management services and teleport uplink services to Hong Kong and Asian telecom users including satellite operators, telcos, ISPs players
Provides two-way satellite internet services and teleport uplink services
Satellite-basedSatellite-basedTelecommunications ServiceTelecommunications Service
Business Outlook
Broadcasting and telecom businesses grow steadily
Market competition will still be fierce due to supply over demand
Better competitive edges help further increase utilization rates
Continue to expand in overseas market
APT Satellite Holdings Limited
www.apstar.com