Inmarsat plc Interim Management Statement
London, UK: 9 May 2012. Inmarsat plc (LSE: ISAT.L), the leading provider of global mobile satellite communications services, today provided the following information for the three months ended 31 March 2012.
Inmarsat plc - Highlights
· Total revenue $355m up 10% (2011: $324m)
· Wholesale maritime revenues up 7%
· Over 2,000 FleetBroadband terminals added in Q1
· Over 55,000 IsatPhone Pro subscribers at end of Q1
· Agreement with LightSquared, resulting in $56m payment in April
· Honeywell to develop Global Xpress in-flight passenger services
· First XpressLink dealers appointed
Inmarsat Group Limited - First Quarter Highlights
· Total revenue $237m up 6% (2011: $223m)
· Inmarsat Global MSS revenue $178m (2011: $181m)
· Inmarsat Solutions revenue $191m (2011: $176m)
· Total EBITDA $205m up 1% (2011: $204m)
· MSS active terminals up 10%
Rupert Pearce, Inmarsat's Chief Executive Officer, said, "The results for the first quarter are in line with our expectations and give us confidence in our outlook. Strong subscriber growth of over 10% in the first quarter continues to underpin our expectations for improved results in 2012. In addition, we are encouraged by rapidly developing market interest in our XpressLink service and in the partnerships we are forming for our Global Xpress service."
