06 May 2015: Inmarsat has provided the following unaudited information for the three months ended 31 March 2015.
“This was a solid quarter of trading, although starting slowly, in particular in Maritime and certain Government contracts” commented Rupert Pearce, Inmarsat’s Chief Executive Officer.
“However momentum developed well towards the end of the period, especially in Maritime, with strong growth in FleetBroadband subscribers and ARPU as well as XpressLink installations. We remain confident about the underlying growth and margin trends across all of our business units, and that we will deliver our wholesale MSS revenue target for 2015 and beyond.
“Our third GX satellite, I-5 F3, has been shipped to Baikonur and is on track for launch in early June. We now expect commercial launch of global GX services mid-to-late in the third quarter, which is slightly later than originally planned but does not change our expectations for GX revenue growth in 2015 or over the longer term.
“There was significant progress in Aviation in the quarter, with several major new cabin connectivity contracts in advanced stages of negotiation, and the S-band license acquisition process moving forward well. Plans for developing our air-to-ground network are also progressing well.”
Our expectations for the Group’s performance in 2015 remain unchanged. The trading environment is expected to be broadly similar to 2014, with continuing underlying revenue growth in Maritime, Enterprise and Aviation and continued weakness in Government, particularly in the US.
The Group’s longer term guidance remains unchanged:
The results conference call has been recorded and will be on our website shortly after the event.
Click here to view the Q1 financial results for 2015 and to listen to the results conference call, which will be available shortly.
1 EBITDA is defined as profit before finance income and expenses, taxation, depreciation and amortisation, losses on disposal of assets, impairment losses and share of profit of associates