Data revenues drive Inmarsat growth
Satellite communications group Inmarsat’s wholly-owned subsidiary Inmarsat Holdings said it is well on track to meet its revenue and cash flow growth objectives for the year.
InMarsat Holdings saw profit before tax rise to $40.9m in the first quarter of 2008 from $38.3m a year earlier, on revenue that rose to $147.9m from $140.8m.
Maritime sector revenue grew 7.8%, with almost all of the growth driven by increased demand for data services; maritime data saw 11.6% growth while maritime voice services revenues grew just 0.4%.
First quarter land mobile sector revenue declined 3.4% from a year earlier, with data revenue flat while voice revenue declined by 28%, primarily due to the loss of Mini M users, particularly in areas where the company’s handheld IsatPhone is not yet available. Land data revenues recovered strongly in February, however, and performed in line with expectations in March.
The aeronautical sector saw 25.7% year-on-year growth in revenues in the first quarter. SwiftBroadband continues to generate significant interest among Inmarsat’s government and business jet customers, as well as with airlines moving to trial in-flight mobile services.
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Leasing revenue was down 2.3% from a year earlier, though the quarter finished strongly with a number of late contract additions compensating for the loss of some business from a major client in the preceding quarter.
The company does not yet have a new date for the launch of its third Inmarsat-4 satellite, it remains confident that a prolonged delay is unlikely.
Inmarsat postponed the launch of its third Inmarsat-4 satellite, pending investigation into the failure of another mission.
The group said in March it was informed that Proton Breeze M rocket, carrying the satellite of another operator, suffered an anomaly resulting in the failure of the mission.
