The company grows 25% in revenue, up to almost 230 million, and plans to distribute 80% of the profit as a dividend
MADRID, 6 Mar. (EUROPA PRESS) -
Hispasat has generated a net profit of 46.8 million euros, somewhat below last year due to higher investments, and is studying to continue making acquisitions to grow in 2023.
The CEO of the satellite company, Miguel Ángel Panduro, highlighted in an interview with Europa Press that the company has managed to grow in a context in which the sector has fallen several points.
Hispasat has increased its revenues by almost 25% at constant rates, to almost 230 million euros, driven by organic growth of 4% and acquisitions.
Last year, the firm acquired the American Axess Networks, a company specializing in satellite services and solutions for the corporate market, for 95 million euros.
The company has contributed 28.5 million euros to the Redeia parent company and losses of 1.2 million euros in the period recorded within the group. In the full year, it has added income of 66.3 million euros and posted losses of 2.84 million euros, according to Redeia's annual financial report.
Looking ahead to 2023, the firm has been provisionally awarded the Único Demanda Rural affordable satellite connectivity service, a €93 million program to subsidize Internet access in remote areas for €35 per month.
Panduro has highlighted that the company has a debt level of 1.5 times the gross operating profit (Ebitda), half that of the companies in the sector, which gives it a run in the inorganic market.
"We have very important financial strength for new projects. If we are not the best, it will be close," said the CEO, who stressed that 85% of the debt is fixed at fixed rates below 2%.
Likewise, after successfully launching its Amazonas Nexus satellite, the company will generate new additional income from the second half of the year, when it begins to provide service.
The manager has indicated that this satellite itself has a capacity equivalent to half of the entire fleet that the company has in orbit and already has 60% of pre-contracted capacity.
On the other hand, the company hopes to participate in the large projects launched in the sector at a European level, such as the IRIS2 satellite constellation and is already a member of a project to install fixed communications on the Moon. "It is a very important issue for us to once again be that Spanish benchmark in space", he highlighted.
Hispasat plans to distribute a dividend of 37.4 million euros this year, 80% of its profit last year, although this step is pending its proposal and approval at the general meeting of shareholders.
The bulk of the dividend would be received by Redeia, the former Red Eléctrica and Hispasat's main shareholder with practically 90% of the capital, which makes it a recipient of 33.5 million euros.
For its part, the Sociedad Estatal de Participaciones Industriales (SEPI) would receive 2.77 million euros for the 7.41% of the capital it owns, and the Center for Industrial Technological Development (CDTI), more than one million euros for 2.91%.