Intelsat Posts Third Quarter Net Loss of US$ 148.3 million

Luxembourg, October 29, 2019- Satelite operator Intelsat S.A. (NYSE: I), today announced financial results for the three and nine months ended September 30, 2019. Intelsat reported total revenue of US$ 506.7 million and net loss attributable to Intelsat S.A. of US$ 148.3 million for the three months ended September 30, 2019.

Intelsat reported EBITDA or earnings before net interest, gain on early extinguishment of debt, taxes and depreciation and amortization, of $336.1 million and Adjusted EBITDA of US$ 356.1 million, or 70 percent of revenue, for the three months ended September 30, 2019. Free cash flow used in operations was US$ 10.1 million.

Intelsat’s Chief Executive Officer, Stephen Spengler, said, “2019 is progressing to our expectations, expanding our managed services strategy to the benefit of our network services, media and government businesses. Our focus on the wireless sector continues to yield benefits, with new infrastructure service starts in the third quarter in Africa, Oceania and Latin America. Further, with Intelsat 39 entering service this month, we expanded the essential broadband infrastructure we provide to Myanmar under a long-term agreement, as well as increased and enhanced our mobility infrastructure throughout the Indian Ocean and Asia regions.

Spengler concluded, “The progression of our C-Band Alliance proposal under the U.S. Federal Communications Commission C-band proceeding is positive and productive.  Our focus on an expanded spectrum clearing approach clears maximum spectrum for 5G—300 MHz inclusive of a 20 MHz guard band—while maintaining the reliability of the U.S. television and radio ecosystem. In summary, the CBA members have the expertise and knowledge necessary to implement a spectrum transition solution efficiently, expeditiously and with full accountability for the timetable and safety to the ecosystem on which nearly 120 million American homes rely. We continue to demonstrate that the CBA plan represents the fastest path to cleared spectrum for 5G in the U.S."