Page 58 - hisdeSAT annual report 2014

Hisdesat in figures

5.2 Financial Results

Revenues from services amounted The negative financial result of
to 57.7 million €, compared to 60.3 7.8 million € incorporates the bulk
million € registered at the close of of the reorganization of assets
2013, primarily as a result of capa- associated with our subsidiary
city adjustment by clients. Xtar, and includes 10.5 million €
in exchange rate gains generated
Regarding operating expenses, the
during the year by managing our
changes in income level have also currency exposure.
brought about a contraction in the
related costs of ex- Tax on profits attracts the afore-
Net income grew ternal capacity, mentioned tax credit of 18.6 mi-
leading to a 2.5 mi-
by 6.6 % llion € reduction in llion €, thus reaching 4.6 million
€ compared to a figure of -9.5 mi-
the cost of supplies. llion € in 2013.
The total figure for operating ex-
penses stood at 17.2 million € at Finally, the net profit achieved in
year end. This means that the 2014 is 24.0 million €, exceeding
EBITDA reached 41.3 million €, that recorded in 2013 by 1.5 million
representing a margin of 70.6%. € or 6.6%.

Income Statement 2014

(Million Euros)

58,5 41,3 26,6 24,0

Total EBTIDA Operating Net
Income Income Income

58