Thursday, 09 March 2017 06:17

Inmarsat sees small rise in revenue for 2016

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British satellite telecommunications company Inmarsat has recorded revenue of US$358.1 million for the fourth quarter of 2016, an increase of 7% over the corresponding quarter of 2015.

For FY2016, the company saw a 4.3% upward rise in revenue, with US$1.329 billion coming in, as compared to US$1.274 billion in the previous full year.

The company said it recorded EBITDA of US$794.8 million for the year, an increase of 9.5% over the US$675.4 million in 2015. The latter figure does not include earnings from its deal with Ligado Networks.

Inmarsat said strong results in the government and aviation sectors were offset to some extent by the showing in the maritime and enterprise sectors.

It said distribution contracts had been established for more than 5000 ships with Marlink, Speedcast and Navarino.

An additional agreement had been signed with Satlink in the first quarter of 2017 for 1500 vessels.

Inmarsat said it expected to service more than 950 aircraft under signed contracts, with another 3000 in the pipeline.

The European Aviation Network was continuing to be developed and an S-band satellite was to be launched in the second quarter of 2017 and the complementary ground component would be offered as a commercial service in the second half of the current year.

Inmarsat chief executive Rupert Pearce commented: "Despite a challenging operating environment in our markets, we delivered a robust performance in 2016, supported by the
first material revenues from our GX platform and a successfully negotiated upgrade of the Ligado agreement."

The agreement in question means Ligado will make aggregate payments of approximately US$108 million, US$111 million and US$118 million to Inmarsat for 2016, 2017 and 2018 respectively, payable in quarterly instalments.

Pearce added: "As a result, Inmarsat remains well-positioned to take advantage of a number of significant growth opportunities in the coming years, supported by our unique skills and experience in global, mobile, broadband services, our solutions-based offerings, our strong global networks and our market-leading distribution channels.


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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