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November 6, 2015

Aviation broadband lifts Inmarsat to Q3 revenue rise

News: Wholesale satellites, maritime and government business also post growth.

By Alexander Sword

Inmarsat saw revenues rise in Q3, driven by large increases in its aviation and mobile satellite businesses.

Total revenues for the quarter were $323.1 million, an increase of 7 percent year-on-year.

Due to financing costs in the quarter, profits fell to $62 million from $78.7 million.

The aviation unit was Inmarsat’s biggest grower, rising $11.9 million, or 57.5 percent, to hit $32.6 million. The quarter saw a partnership signed with Deutsche Telekom to produce an LTE-based hybrid satellite and ground network for airlines, as well as an MOU signed with Lufthansa to provide in-flight connectivity.

Wholesale Mobile Satellite Service revenues rose 11.3 percent year-on-year to hit $213.7 million.

In addition, LightSquared paid $17.9 million to Inmarsat as part of the cooperation agreement between the two companies over spectrum, an 83 percent increase year-on-year.

Revenues from the maritime and government businesses saw rises of 1.8 percent and 1.2 percent respectively, while enterprise fell 2.9 percent.

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The quarter saw the successful launch of I-5 F3, the third Global Xpress satellite, joining a constellation that when operational will provide a global satellite broadband network through one provider.

 

Why satellite comms is "not for the faint-hearted" and how Inmarsat will soon return to double-digit growth: read CBR’s exclusive interview with Rupert Pearce, Inmarsat CEO, here.

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