Source - SMW
Inmarsat's revenues by 4.8% to $358.3m in the third quarter and by 7.8% to 1,046.5m for the first nine months. 

Third quarter maritime revenues were unchanged year-on-year but increased sequentially reflecting 26% increase in VSAT revenues but lower FleetBroadband and legacy product revenues.

Government revenues grew 4%, mainly reflecting stronger US results and aviation revenues were up 50% with growth in both Core business and IFC installation activity. 

Inmarsat said Air Asia's selection of GX confirmed in Q3, bringing aircraft expected under signed IFC contracts to 1,300.

It said Enterprise returned to growth, driven by higher airtime usage and terminal sales following recent hurricanes.

 GX airtime and related revenues, across the business units, was $42.3m (YTD: $102.1m).

EBITDA of $191.3m was down 6.5%. Inmarsat said the favourable impact of higher revenues more than offset by changes in revenue mix, particularly in Aviation, by further investment in IFC market capture and delivery, and by higher central operational delivery costs.

Looking ahead, it said: 'The progress being made in Maritime, Government and Aviation provides confidence about the medium to long term outlook for Inmarsat. 

'However, our markets remain challenging and the outlook continues to be difficult to predict.

' Inmarsat's performance in 2017 and 2018 will continue to be particularly determined by our results in IFC and in Government, as we outlined in March 2017.'






Related Charts

Inmarsat (ISAT)

-0.60p (-0.12%)
delayed 17:01PM