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August 6th, 2009

Financially Speaking... Inmarsat plc...


Inmarsat plc (LSE: ISAT) has reported consolidated financial results for the 6 months ended 30 June 2009. Inmarsat plc - 2009 Interim Highlights include:
  • Total revenue $508.7m up 4.9% (2008: $485.0m)
  • EBITDA $289.9m up 10.0% (2008: $263.6m)
  • Profit before tax $97.0m up 10.5% (2008: $87.8m)
  • Interim dividend increased by 5.0% to 12.73 cents (US$) per share
  • Strong maritime growth, revenue up 9.8%
  • Free cash flow more than doubles to $143.6m
  • Acquisition of Stratos Global completed
  • New distribution terms implemented
The Q2 2009 Highlights include:
  • Q2 Inmarsat1 revenue $173.2m up 5.8% (2008: $163.7m)
  • Q2 Inmarsat MSS revenue $170.3m up 7.4% (2008: $158.6m)
  • Q2 Inmarsat EBITDA $125.4m up 10.0% (2008: $114.0m)

Andrew Sukawaty, Inmarsat's Chairman and Chief Executive Officer said, "Our results for the first half and second quarter show that we are on track for solid revenue growth in 2009. In particular, the continuing strong performance of our maritime business, driven by revenue from new services, shows that we are more than offsetting the impact of reduced shipping volumes and vessels not in use. Furthermore, our EBITDA growth and free cash flow remain strongly positive." To read the entire financial report, access this direct link.