2009 Interim Results

19 September 2009

AgendaAgenda

Financial HighlightsFinancial Highlights

Updates on OperationsUpdates on Operations

Business OutlookBusiness Outlook

Financial Highlights

1H/2009

(HK$ M)

1H / 2008(HK$ M)

Turnover 229.5 198.0

Profit Attributable

to Equity

Shareholders

52.8 6.9

Interim Results

42%

53%

5%

34%

60%

6%

0%

20%

40%

60%

80%

100%

1H/2008 1H/2009

BroadcastingTelecomOther

Turnover Breakdown by Business

Turnover Breakdown by Region

40%33%

13% 13%16% 16% 14%

22%17% 16%

0%

20%

40%

60%

80%

100%

China HK S'pore Indonesia Others

1H/2008 1H/2009

1H/2009

(HK$ M)

1H/2008

(HK$ M)

Turnover 229.5 198.0

Cost of Services (132.9) (141.5)

Gross Profit 96.6 56.5

Other net income 7.3 8.9

Revaluation (losses)/gains on Investment Property

(0.2) 0.1

Administrative Expenses (34.2) (47.6)

Profit from Operations 69.5 17.9

Consolidated Income Statement (1)

1H/2008

(HK$ M)

1H/2008

(HK$ M)

Profit from Operations 69.5 17.9

Finance costs - (15.0)

Share of profits of jointly controlled entities Gain on disposal of a subsidiary

--

2.03.2

Profit before taxation 69.5 8.1

Income tax (16.7) (1.3)

Profit after taxation 52.8 6.8

Attributable to:

Equity shareholders of the Company 52.8 6.9

Minority interests - (0.1)

Profit after taxation 52.8 6.8

Earnings per share – Basic (HK cents) 12.78 1.67

Consolidated Income Statement (2)

Expenses Breakdown

69%

80%

24%20%

7%0%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cost of Services Admin. Exp. Finance Cost

1H/2008

1H/2009

Cost of Service Breakdown

77% 77%

14% 14%7% 8%

2% 1%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Depreciation Insurance Licence & OrbitSlot Fees

Satellite-basedTelecom

1H/2008

1H/2009

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.

62%72%

0%

20%

40%

60%

80%

100%

1H/2008 1H/2009

Asset & Liabilities

Total Assets HK$2,861 million

Total Liabilities HK$771 million

Bank borrowings due within one year

HK$46 million

Bank borrowings due after one year

HK$187 million

(As at 30 June 2009)

Gearing

37%

27%

51%

34%

0%

10%

20%

30%

40%

50%

60%

1H/2008 1H/2009

Debt-equity ratio

Debt-ratio

Cash

Free Cash: HK$629 million

Pledged Deposit : HK$7 million

(As at 30 June 2009)

Updates on APT’s OperationsUpdates on APT’s Operations

Transponder Utilization Rates

As at

30 June 09

As at

30 June 08

APSTAR 6 70.3% 53.0%

APSTAR 5 80.6% 67.4%

Built on SS/L FS1300 and commenced operation in August 2004 with life is over 15 years

APT keeps 21 C & 10 Ku

Provides versatile services including DTH, internet, VSAT services in the region with interconnection to USA

One of the two beacon transmitters onboard of APSTAR 5 has suffered from an anomaly, which does not affect the normal operation of the satellite

APSTAR 5

APSTAR 6

Thales Alenia (Alcatel) SB4100C1

Started operation in 7 June 2005

High-power satellite with 38 C-band and 12 Ku-band

Operation mission life over 15 years

Equipped with advanced anti-jamming feature

Increase potential on utilization rates

APSTAR 2R

Built on SS/L FS1300 and commenced operation in November 1997 with 15 years life

APT terminated the Lease Agreement with Telesat on 9 July 2009 and took up 43 transponders with corresponding customer contracts

The C-band transponders cover Europe, Asia, Africa, and Australia, approximately 75% of the world’s population and Ku-band transponders mainly cover China

High filling rate for C transponders

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, 2009, the Broadcasting Platform uplinks and broadcasts up to 93 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

Continue to provide Data Centre business with cooperation with internationally renowned IT firm

Support broadcasting and telecom services of the Group

Additional Revenue will start in 2H 2009

Future growth potential

New Satellite – APSTAR 7

A new satellite is planned to replace APSTAR 2R which will expire in Q4 2012 To boost customer base To cope with the market change with better

services and latest advanced technology To sustain business continuity To achieve revenue and profit growth

Business Outlook

Business environment has not fully recovered from global financial crisis

Market competition still be fierce due to supply over demand

Demand for transponders and services are still affected by economic uncertainty

APT will leverage the increase in business growth from APSTAR 2R and better competitive edges for better performance

APT Satellite Holdings Limited

www.apstar.com