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By Staff Writer | November 10, 2009

Telecom

[Satellite TODAY 11-10-09] Inmarsat achieved growth in all of its mobile satellite services markets in the 2009 third quarter, which generated an 8.7 percent revenue increase over 2008 at $176.7 million, the company announced in its financial results, released Nov. 9.
     The company’s EBITDA grew 18.4 percent to $133 million and profits after tax improved 33.5 percent to $50.2 million.
     Inmarsat Holdings reported net borrowings of $879.9 million, which excludes net borrowings of Inmarsat and Stratos Global Corp. and its subsidiaries. Inmarsat Holding’s ratio of net borrowings to its last twelve-month EBITDA was 1.8 to 1.0.
     Inmarsat CEO Andrew Sukawaty was pleased with the results and announced he will extend his CEO term by two years. “Our cost control and reduced capital expenditure needs are contributing respectively to strong EBITDA growth, up 18.4 percent, and a substantial increase in free cash flow, up over 90 percent year-over-year. … We are well positioned to deliver on our targets for the full year,” Sukawaty said in a statement.

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