Hispasat has announced its full year 2016 results, reporting 228.9 million euros ($247.1 million) in total revenue for the year, a 4.2 percent increase compared to the previous year.

The company has invested 167.8 million euros ($181.1 million), spent mainly on ongoing satellite programs in 2016: the Hispasat 36W-1 satellite, successfully launched on January 28, 2017; the Amazonas 5 and Hispasat 30W-6 satellites, planned to launch later this year; as well as on innovation projects involving both satellites and products and services.

The company also reported operating profit of 99.9 million euros ($107.8 million), 8.1 percent higher than the previous business year, due to lower amortization expenses. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) came in at 175.7 million euros ($189.7 million), 1.8 percent less than 2015, while net profit in compared terms was 79.1 million euros ($84.4 million).

Hispasat’s commercial efforts have also led to the consolidation of a backlog equivalent to 6.5 times the company’s annual revenue at the end of the financial year.