Inmarsat Reports Preliminary Full Year Results 2013
London, UK, March 6, 2014--Inmarsat plc today reported consolidated preliminary financial results for the year ended 31 December 31, 2013.
Inmarsat reported Adjusted total revenues of US$ 1,249.6m (2012: $1,277.6m) and Adjusted EBITDA of US$ 639.8m (2012: $642.8m).
Total Inmarsat Global MSS revenue was US$ 762.4m up 3.3% (2012: $738.0m). Profit before tax US$ 189.1m (2012: $293.6m). Adjusted profit before tax was US$ 365.3m up 8.6% (2012: $336.4m) . The company giave a dividend of 28.82 US cents up 5% from 2012.
Rupert Pearce, Inmarsat’s Chief Executive Officer, said, “We finished the year strongly with both financial and operational achievements. We saw continued momentum in our wholesale MSS business, with growth of over 5% in the fourth quarter. As a result, we outperformed our 2012-2013 revenue target, delivering a two-year CAGR in our wholesale MSS revenues of 2.9%. We also controlled costs successfully to ensure a strong performance in EBITDA."
In December 2013, Inmarsat successful launched the Inmarsat-5 satellite, which is expected to enter commercial service in mid-2014. Alphasat, launched in July 2013, is now in commercial service.
“Our 2013 achievements mean we enter 2014 with confidence. We have a market-leading MSS business, with growth in key services. In addition, we have new MSS services beginning to make a meaningful contribution and exciting new product launches ahead. In our Global Xpress program, we remain on track to complete global coverage with two further satellite launches planned before the end of the year and we believe that market appetite remains consistent with our three-year wholesale MSS revenue growth target of between 8% and 12% CAGR for the period 2014-2016,” added Pearce.
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