APT Satellite (1045) investor relations material

Executive summary

• Revenue for the first half of 2025 was HK$379.7 million, down 3.11% year-over-year, mainly due to lower satellite transponder capacity income.

• Profit attributable to shareholders fell 23.88% to HK$77.4 million, with EPS at HK8.33 cents, down from HK10.95 cents.

• Interim dividend declared at HK2.50 cents per share, compared to HK4.50 cents last year.

• All in-orbit satellites and ground facilities operated reliably, serving over 75% of the global population and expanding gateway stations in several countries.

Financial highlights

• Gross profit dropped 29.62% to HK$103.3 million due to higher cost of services.

• EBITDA for the period was HK$261.0 million, with margin down to 68.7%.

• Net cash and bank balances increased to HK$2.51 billion as of 30 June 2025.

• Total assets were HK$6.96 billion and total liabilities HK$845.5 million.

• Free cash increased to HK$170 million from HK$126 million at year-end 2024.

Outlook and guidance

• Market oversupply and intense competition in satellite transponder leasing expected to persist, with downward price pressure and increased competition from LEO operators.

• Economic downturn, strong US dollar, and customer payment challenges to continue impacting business.

• Focus remains on expanding high-throughput satellite services, investing in new projects, and enhancing operational efficiency in key overseas markets.

• Strategic partnerships in Southeast Asia have led to robust growth in satellite utilization.