APT Satellite (1045) H2 2025 earnings summary

Executive summary

• Revenue for 2025 was HK$739.1 million, down 5.8% year-over-year, mainly due to lower satellite transponder capacity income.

• Profit attributable to equity shareholders fell 31.1% to HK$141.4 million, with EPS at HK15.23 cents.

• The Group maintained stable operations, a healthy financial position, and continued investment in satellite and ground infrastructure.

• Final dividend declared at HK 6.00 cents per share for the year ended 31 December 2025.

Financial highlights

• Gross profit dropped 29.0% to HK$201.9 million in 2025.

• EBITDA for 2025 was HK$501.0 million, with margin at 67.8%.

• Administrative expenses increased 14.3% to HK$115 million.

• Total cash and bank balances rose 11.7% to HK$2,734.7 million.

• Net assets per share increased to HK$6.64.

Outlook and guidance

• Market oversupply and competition, especially from LEO operators, expected to persist in 2026, pressuring prices and demand.

• Plans to expand satellite-based service markets, bandwidth, and HTS capacity utilization in Southeast Asia and Asia Pacific.

• Focus on improving resource utilization and deepening cooperation with associates.

• Plans to complete the CHK Station in Hong Kong and invest in new-generation satellite projects.