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Inmarsat Plc Interim Management Statement

Inmarsat Solutions

                                      Three months ended                                                          
                                          30 September     Increase/
    (US$ in millions)                    2012      2011   (decrease)

    Inmarsat MSS                        104.1     107.4      (3.1%)
    Broadband and Other MSS             101.8      90.0      13.1%
    Total revenue                       205.9     197.4       4.3%

Lower Inmarsat MSS revenue at the Inmarsat Solutions level was driven primarily by lower revenue from Afghanistan and lower event-related revenue year-over-year.  Growth in Broadband and Other MSS was primarily due to increased revenue from our US Government business unit in relation to managed network services and equipment sales.  

Liquidity

At 30 September 2012, the Inmarsat plc group had net borrowings of $1,423.0m, made up of cash and cash equivalents of $446.8m and total borrowings of $1,869.8m.  Including cash and available but undrawn borrowing facilities, the group had total available liquidity of $1,527.5m.  We remain fully funded as to all our capital needs for the foreseeable future.  

Our Financial Reports

Inmarsat Group Limited, our wholly-owned subsidiary, today reported unaudited consolidated financial results for the three months ended 30 September 2012.  A copy of the full financial report for Inmarsat Group Limited can be accessed via the investor relations section of our website.

Other Information

Inmarsat management will discuss the results announced today and other financial and business information in a conference call on Monday, 5 November at 2:00pm London time, ( United States 9:00am EST).  To access the call please dial +44(0)1452-555566.  The conference id for the call is 53479787.  The call will be recorded and available for one week after the event.  To access the recording please dial +44(0)1452-550000 and enter the access number 53479787.  The call will also be available via a webcast, to access the webcast please go to http://www.inmarsat.com/webcast.

Forward-looking Statements

Stock quotes in this article: ISAT 

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