Intelsat reports “solid progress”

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Intelsat’s Q1 numbers showed some revenue reductions in most of its divisions. The one sector that showed an increase was its ‘media’ business, which saw revenues grow 1 percent to $224.8 million compared with Q1/2014.

The reduced revenues in its other key divisions affected the overall fill rate, down to 75 per cent as at March 30th, and down from 77 per cent a year ago.

Network Services decreased 5 per cent (and yet still represent 46 per cent of Intelsat’s Q1 revenues), while its Government business decreased again, this quarter by 13 per cent (compared to Q1/2014). Government services are 16 per cent ($94.8m) of Intelsat’s revenues.

Intelsat has 2200 transponders on station (plus some in inclined orbit) with an impressive 75 percent fill rate (but down from 77 per cent a year ago).

As a result of these overall declines the operator’s all-important backlog fell back some $300 million in the past 3 months from $10 billion to $9.7 billion.

Overall free cashflow for the quarter was $199.4 million., and overall Intelsat said that its Q1 performance was in line with expectations.


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