Inmarsat (ISAT)

Sector:

Telecom Operators

Index:

FTSE 250

   Trade now with Barclays Stockbrokers   Trade now with Barclays   Sponsored by Barclays Stockbrokers

576.80p
   
  • Change Today:
      2.00p
  • 52 Week High: 585.80
  • 52 Week Low: 362.80
  • Currency: UK Pounds
  • Shares Issued: 463.58m
  • Volume: 79,701
  • Market Cap: £2,673.93m
  • RiskGrade: 68
  • Beta: 0.01

Inmarsat swings to loss, cites takeover costs

By Michele Maatouk

Date: Wednesday 01 May 2019

LONDON (ShareCast) - (Sharecast News) - Satellite telecommunications company Inmarsat posted a 12.9% drop in first-quarter earnings on Wednesday and said it swung to a pre-tax loss, but reiterated its future guidance.
In the three months to 31 March 2019, earnings before interest, tax, depreciation and amortisation fell to $152.4m from $174.9m, partly due to costs relating to the recommended offer for the group, with revenue up just 0.4% to $346.9m.

Inmarsat agreed last month to a $3.4bn takeover offer from a group led by the private equity firms Apax and Warburg Pincus.

The group said it swung to a pre-tax loss of $266.9m versus a profit of $56m the year before.

Revenue in the maritime division declined 9.5% to $128.5m, while revenue in the enterprise and Ligado and other businesses fell 13.8% and 90.1%, respectively, to $28.2m and $3.6m. Government revenue rose 28.6% to $100.7m and aviation revenue was up 53.4% to $85.9m.

Inmarsat said that in maritime, challenges remain in the mid-market but actions taken are now favourably impacting vessel loses. Meanwhile, there has been further customer take-up of key products in both its US and global government businesses.

The enterprise segment saw a continued decline of products in legacy markets, while the company's aviation arm saw a material increase in in-flight connectivity revenues, driven by substantial equipment sales and continued growth in GX airtime revenues.

Chief executive officer Rupert Pearce said: "Inmarsat produced a strong underlying performance during the first quarter of the year, building on the positive momentum achieved during 2018.

"We continue to successfully build and aggressively defend market share in our target markets, supported by our diversified product portfolio, enabling the business to capitalise on the significant growth opportunities in these markets."

Inmarsat said it remains confident about its future prospects and reiterated its guidance, which includes a target of mid-single digit percentage revenue growth on average over the five year periodto 2022, with EBITDA and free cash flow generation improving steadily.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Inmarsat Market Data

Currency UK Pounds
Share Price 576.80p
Change Today 2.00p
% Change 0.35 %
52 Week High 585.80
52 Week Low 362.80
Volume 79,701
Shares Issued 463.58m
Market Cap £2,673.93m
Beta 0.01
RiskGrade 68

Inmarsat Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
64.83% below the market average64.83% below the market average64.83% below the market average64.83% below the market average64.83% below the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Price Trend
53.13% above the market average53.13% above the market average53.13% above the market average53.13% above the market average53.13% above the market average
71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average71.43% above the sector average
Income Not Available
Growth
92.15% below the market average92.15% below the market average92.15% below the market average92.15% below the market average92.15% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Inmarsat Dividends

  Latest Previous
  Final Interim
Ex-Div 18-Apr-19 13-Sep-18
Paid 30-May-19 19-Oct-18
Amount 12.00¢ 8.00¢

Trades for 19-Aug-2019

Time Volume / Share Price
09:07 483 @ 576.80p
09:07 500 @ 576.80p
09:07 2,091 @ 576.77p
09:04 366 @ 577.00p
09:04 864 @ 577.00p

Inmarsat Key Personnel

CEO Rupert Pearce
CFO Tony Bates

Top of Page