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2007 Interim Results
7 September 2007
AgendaAgenda
Financial HighlightsFinancial Highlights
Updates on OperationsUpdates on Operations
Business OutlookBusiness Outlook
Financial Highlights
1H / 2007(HK$ M)
1H / 2006(HK$ M)
Turnover 230.7 208.0
Profit / (Loss)
Attributable to
Equity
Shareholders
5.0 (21.1)
Interim Results
43%50%
7%
27%
69%
4%
0%
20%
40%
60%
80%
100%
1H/2006 1H/2007
BroadcastingTelecomOther
Turnover Breakdown by Business
Turnover Breakdown by Region
55%
37%
11%16%
9% 8%11%
25%
14% 14%
0%
20%
40%
60%
80%
100%
China HK S'pore Indonesia Others
1/H 2006 1H/2007
1H/2007
(HK$ M)
1H/2006
(HK$ M)
Turnover 230.7 208.0
Cost of Services (165.3) (167.5)
Gross Profit 65.4 40.5
Other net income 12.7 9.1
Revaluation gain on investment
property
- 0.1
Administrative Expenses (37.1) (35.4)
Profit from Operations 41.0 14.3
Consolidated Income Statement (1)
1H/2007
(HK$ M)
1H/2006
(HK$ M)
Profit from Operations 41.0 14.3
Finance costs (28.7) (31.0)
Share of results of jointly controlled entities
(0.6) (0.5)
Profit / (Loss) before taxation 11.7 (17.2)
Income tax (7.3) (4.5)
Profit / (Loss) after taxation 4.4 (21.7)
Attributable to:
Equity shareholders of the Company 5.0 (21.1)
Minority interests (0.6) (0.6)
Profit / (Loss) after taxation 4.4 (21.7)
Earnings / (Loss) per share – Basic (HK cents)
1.22 (5.12)
Consolidated Income Statement (2)
Expenses Breakdown
72% 71%
15% 16% 13% 13%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Cost of Services Admin. Exp. Finance Cost
1H/2006
1H/2007
Cost of Service Breakdown
69% 67%
17%15%
7% 6% 7%12%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Depreciation Insurance Licence & OrbitSlot Fees
Satellite-basedTelecom
1H/2006
1H/2007
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.
53%61%
0%
20%
40%
60%
80%
100%
YE/2006 1H/2007
Asset & Liabilities
Total Assets HK$3,320 million
Total Liabilities HK$1,334 million
Bank borrowings due within one year
HK$187 million
Bank borrowings due after one year
HK$675 million
(As at 30 June 2007)
Gearing
67%
40%
72%
42%
0%
10%
20%
30%
40%
50%
60%
70%
80%
YE/2006 1H/2007
Debt-equity ratio
Debt-ratio
Cash
Free Cash: HK$375 million
Pledged Deposit : HK$77 million
(As at 30 June 2007)
Updates on APT’s OperationsUpdates on APT’s Operations
Singasat Pte Limited 20.33%
China Telecommunications Broadcast Satellite
Corporation
16.26%
CASIL Satellite Holdings Limited 14.95%
China Aerospace Science & Tech. Corporation
8.85%
Kwang Hua Development & Investment Limited
7.40%
67.79%
Principle Shareholders
(including both direct and indirect interests as of 30 June 2007)
Transponder Utilization Rates
As at
30 June 07
APSTAR VI 66%
APSTAR V 67%
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
Alcatel 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
Significant increased in utilization rate
Strategic Alliance with Intelsat
Signed framework agreement with Intelsat in December 2006
Expand business with combined satellite capacities and ground resources
Provide broadcasting, telecom & uplink services
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, 2007, the Broadcasting Platform uplinks and broadcasts up to 70 satellite TV channels
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
Data Centre
APT Satellite Telecommunication Ltd., a jointly controlled entity.
Provide Data Centre Business with its Telepark
Total floor area: 16,890 sq. m.
Support broadcasting and telecom services of the Group
Revenue will start in Q4 2007
New Satellites in China Market
Two new satellites launched in mid 2007 Market competition more intense Some satellite TV programs movements o
ccurred APSTAR VI has taken up some new custo
mers and new usages in Ku band As a whole, APT’s revenue is not adversel
y affected by these movements APT continues to pursue both China and
overseas market for growth
Business Outlook
Broadcasting and telecom businesses will 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
7 September 2007
www.apstar.com