Hispasat reports €54 million profit
Although Spain and Portugal are still important markets for Hispasat, 55% of the company's reported €54 million net profit from 2013 was generated in the Americas, mostly through satellite operations in Latin America.
The profit represents a 5.5% rise compared to 2012, although the income was almost the same, with just a 0.57% growth. Hispasat generated €201.4 million in income, a figure which, according to the company, was seriously affected by the negative currency rates.
The companies internationalisation and focus on the Latin American market has allowed it to avoid major financial troubles in Europe. Still, 44% of the group's operations are in Europe and North Africa.
Although far from the profits of the world's largest satellite companies, last year Hispasat launched the Amazonas 3 and Amazonas 4 in March, the tenth and 11th satellites in its fleet, acquiring in addition a new orbital position of 36ºWest, an important step towards growth in the Latin American region.
Regarding investment, the company spent €157 million in innovation in 2013, mainly targeting the development of future satellites, such as the Hispasat AG1 and Amazonas 4B. Since 2006, the group has invested nearly €800 million in technological innovation, also looking for business diversification through fields such as broadband, satellite Internet and, lately, UltraHD broadcasting.
The results were presented during Hispasat's annual meeting. The company has also completed a new share structure, with Abertis Telecom now the major owner with 57.05% of the group.
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