Arianespace’s sales and net income for 1999 slipped slightly from 1998 levels, the France-led launch organization reported at its annual meeting May 30.
Sales for 1999 fell to about $908.5 million, compared with 1998’s sales of slightly over $1 billion, partly due to a four-month hiatus because the satellites of some customers were not available. Revenues were generated by nine Ariane 4 launches and one Ariane 5 launch.
Also at the shareholders meeting held in Evry, France, Arianespace revealed that tax changes contributed significantly to a plunge in net income, which fell during 1999 to about $6.8 million, from slightly more than $13 million in 1998.
Although operating income nearly tripled to $31.3 million, net income was down because Arianespace paid income taxes of $5.6 million in 1999, while it had a tax credit of $11.4 million in 1998. In addition, Arianespace will pay its shareholders a dividend of about $2.2 million for 1999, compared with no dividend payment in 1998.
Arianespace also increased its reserves by $9.5 million to about $291.4 million in 1999, strengthening its ability to deal with risks inherent in space business, company officials said.
By the end of 2000, three Ariane 5s and four or five Ariane 4s will orbit the following satellites, depending on availability:
- ANIK F1
- ASTRA 2B
- BRASILSAT B4
- B SAT 2A
- EURASIASAT
- EUROPE*STAR
- GE 7 and GE 8
- LDREX
- N SAT 110
- NILESAT 102
- PAS 1R
- SKYNET 4F
- W1
Source: Arianespace
