Inmarsat increases 2013 full year dividend by 5% in $ terms

DividendMax Ltd.

Inmarsat increases 2013 full year dividend by 5% in $ terms

Inmarsat plc - Highlights

Adjusted total revenues $1,249.6m (2012: $1,277.6m)

Total Inmarsat Global MSS revenue $762.4m up 3.3% (2012: 738.0m)

Adjusted EBITDA $639.8m (2012: $642.8m)

Profit before tax $189.1m (2012: $293.6m)

Adjusted profit before tax $365.3m up 8.6% (2012: $336.4m)

Final dividend of 28.82 cents (US$) up 5%

Continued subscriber growth: FleetBroadband, XpressLink, SwiftBroadband

New CFO announced

Inmarsat Group Limited - Fourth Quarter Highlights

Inmarsat Global MSS revenues $194.3m up 5.4% (2012: $184.4m)

Inmarsat Solutions revenues $192.6m (2012: $208.2m)

Total EBITDA $150.9m (2012: $150.5m)

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, we had a successful launch and deployment of our first Inmarsat-5 satellite, which we now expect to enter commercial service in mid-2014. Alphasat, launched in July 2013, is now in commercial service and has strengthened our L-band network it terms of capacity, capability and resilience. 

"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 programme, 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." 

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