Inmarsat Publishes First Year Financial Results

Current Issue
May 28, 2001

Digest Archive May 21, 2001
May 14, 2001
May 7, 2001
April 30, 2001
April 23, 2001
April 16, 2001
April 9, 2001
April 2, 2001
March 26, 2001
March 19, 2001
March 12, 2001
March 5, 2001
February 26, 2001
February 19, 2001
February 12, 2001
February 5, 2001
January 29, 2001
January 22, 2001
January 15, 2001
January 8, 2001
December 18, 2000
December 11, 2000
December 4, 2000
November 27, 2000
November 13, 2000
November 6, 2000
October 30, 2000
October 23, 2000
October 16, 2000
October 2, 2000
October 9, 2000
October 2, 2000
September 25, 2000
September 18, 2000
September 11, 2000
September 4, 2000
August 28, 2000
August 21, 2000
August 14, 2000
August 7, 2000
July 31, 2000
July 24, 2000
July 17, 2000
July 10, 2000
June 26, 2000
June 19, 2000
June 12, 2000
June 5, 2000
May 29, 2000
May 22, 2000
May 15, 2000
May 8, 2000
May 1, 2000
April 24, 2000
April 17, 2000
April 10, 2000
April 3, 2000
March 27, 2000
March 20, 2000
March 13, 2000

Inmarsat Publishes First Year Financial Results

Inmarsat Holdings Ltd published its first financial results as a private limited company for the fiscal year ending 31 December 1999. Total operational revenues, including the period 1 January to 14 April 1999 from Inmarsat's status as an intergovernmental organization (IGO), were US$406.2 million. Profit on ordinary activities including the period 1 January to 14 April 1999 from Inmarsat as an IGO, were US$119.4 million before taxation with a provision of US$150.0 million for the diminution in the value of the ICO Global Communications (Holdings) Ltd (ICO) investment. At the end of 1999, Inmarsat decided that continued direct investment in ICO would not be compatible with Inmarsat's future growth strategy. The Board of Inmarsat Holdings Ltd approved a provision for the entire amount of the investment and accepted to take the full impact in 1999, thus eliminating any future exposure. The total number of customer mobile satcoms units grew by 32%, to over 183,000 at the end of 1999. Inmarsat's total airtime volumes grew by 15.5%, data services grew by 26%, land mobile sector airtime volumes increased by 34% and the maritime sector by 9%. 1999 the Inmarsat mini-M mobile satcoms unit platform experienced growth of 69%, with over 26,000 new units commissioned. at the end of 1999 there were just under 65,000 units in the market. In December 1999 the Board approved an investment of US$1.4 billion for Inmarsat’s next generation of satellites, Inmarsat I-4. content Inmarsat plans to expand it's aeronautical services by moving into the provision of live TV broadcasting to the intercontinental airline fleets, adding to the voice and data services currently provided to 78% of the world's wide-bodied long-haul aircraft. Inmarsat has operating licenses in 171 countries.

SPACEandTECH Digest is a weekly roundup of the latest industry news of interest to the space professional. SPACEandTECH Flash! is an internet push service offered by Andrews Space & Technology to bring the latest on orders, launches, and important breaking news to your desktop. SPACEandTECH Digest and SPACEandTECH Flash! are part of the Andrews Space & Technology www.spaceandtech.com website, a website designed to serve the information needs of the space industry.

If you would like to subscribe to the SPACEandTECH Flash! (currently a free service), contact the www.spaceandtech.com Editor-in-Chief, Joe Hopkins, at editor@spaceandtech.com

March 20, 2000

Andrews Space & Technology