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Public company info - Asia Satellite Telecommunications Holdings Ltd. , 01135.HK

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Asia Satellite Telecommunications Holdings Ltd., 01135.HK - Company Profile
Chairman Gregory M. Zeluck
Share Issued (share) 391,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Satellite & Aerospace
Corporate Profile Business Summary: The Group is engaged in the operation, maintenance and provision of satellite telecommunication systems for broadcasting and telecommunication. Performance for the year: Revenue for the year ended 31 December 2018 was HK$1,442 million (2017: HK$1,354 million) up 6% from the previous year. The profit attributable to owners for 2018 was HK$429 million (2017: HK$397 million). This was primarily driven by an increase in revenue. Business Review: In summary, during 2018 the Group achieved higher capacity growth with its expanded and upgraded satellite fleet with 131 transponders leased or utilised, as compared to 126 transponders as of 31 December 2017. Overall payload utilisation for the period ended 31 December 2018 was 72% as compared to 69% in the previous year. With the satellite transponder market in the Asia-Pacific undergoing a restructuring over the last two years, the Group had a contracted backlog of HK$2,976 million (2017: HK$3,684 million). The 19% reduction was primarily driven by subdued demand and customers becoming less willing to commit to longer-term contracts in an uncertain market. Prospects: The Group is cautiously optimistic about revenue prospects for 2019 and beyond, notwithstanding current oversupply of satellite capacity in key country markets, price erosion and the fierce competition from terrestrial networks. The overall demand for broadcast distribution services in the Asia-Pacific region is forecast to remain stable with a single digit upward trend in selected markets, benefiting from the on-going transition from SD to HD/Ultra HD. Underpinned by the region’s underlying demographic and economic strengths, the Group are expecting to see a continued, steady increase in transponder uptake. The Group’s customers’ ever-increasing demand for capacity, which is further fueled by the tremendous growth in online and other digital services, continues to be met by the ubiquitous coverage of the capacity provided by the Group’s satellite fleet. With the slowdown in the deployment of new geostationary satellites, coupled with the tightening supply of C-band transponders due to the expected roll-out of 5G services in a number of Asian markets, the Group believe the demand for satellite transmission capacity will be outstripping net distribution capacity. In particular, regional demand for network connectivity, such as maritime and remote communications, remains positive. Therefore, the Group believe the market equilibrium will be tipping in favour of Fixed Satellite Service (FSS) operators such as AsiaSat. To date, the impact of high-throughput satellites (HTS) on traditional FSS providers in the region has not been as significant as expected, due to the slow, incremental roll-out of HTS. Hence, the Group will continue to evaluate the timely commissioning of an HTS satellite, AsiaSat 10, to support connectivity demands in IFC, maritime and other vertical markets that demand high capacity, high speed and efficiency. In order to better adapt to a rapidly changing business environment, the Group are proactively seeking collaboration partners in emerging markets and among companies engaged in related value chains through assessing various initiatives, including mergers and acquisitions, while continuing to strengthen the Group’s core revenue base.

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