Inmarsat Report Continued MSS Growth in First Half 2015
London, UK, August 6, 2015--Inmarsat plc (LSE: ISAT.L) reported continued mobile satellite services business growth for the half year ended 30 June 2015. Total revenues were US$616.2 million (2014: US$ 652.3 million). Revenues from LightSquared was US $35.0 million (2014: US$ 47.1 million). Wholesale MSS revenues were US$ 403.8m, up +4.2% (2014: US$ 387.6 million).
Total EBITDA ws US$ 342.7 million (2014: US$ 369.7 million) and frofit after tax was US$ 131.6 million (2014: US$ 136.7 million).
Rupert Pearce, Inmarsat’s Chief Executive Officer, commented: "The return to flight of the Proton launch vehicle after a three-month suspension is welcome news. A successful launch of I-5 F3 in late August will enable us to introduce global GX commercial services by the end of this year, providing a major catalyst for a step-change in revenue and EBITDA growth in 2016. We remain confident that GX will deliver incremental run-rate revenues of at least $500m per annum within five years from the launch of global services."
"Our wholesale MSS revenue grew by 4.8% in the second quarter, reflecting the continuing expansion of global demand for mobile data, and the enduring capabilities of our L-band services, delivering the service speed, reliability and global coverage that are vital for our customers," added Pearce.
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