Intelsat reports Q4 revenues of $538m
February 26, 2018
By Chris Forrester
Intelsat full-year 2017 revenues to December 31st showed $2.14 billion (€1.73bn). Its 4th Quarter revenues were $538 million. Overall loss for the full year was $179 million (and $90 million for Q4). The satellite operator said that its contracted backlog was down $100 million to $7.8 billion.
“Our Q4 financial results, $538 million in revenue and $416 million in Adjusted EBITDA, are in-line with our 2017 annual guidance,” said Stephen Spengler, CEO/Intelsat. “In delivering on our expectation for Adjusted EBITDA for the year, we demonstrated our discipline with respect to expenses and managing cash flows. Our business results, combined with the successful extension of our $3.1 billion secured term loan maturity to 2023 and 2024, provide a solid foundation as we implement our 2018 business plan.”
“Our goals in 2018 capitalise upon the better performance and economics associated with the services delivered by our high-throughput satellite Intelsat EpicNG fleet. Our position will be further enhanced by completion of the Intelsat EpicNG global deployment, which is planned to occur later this year with the launch of the Asia Pacific-oriented Horizons 3e satellite. We developed our 2018 initiatives to drive stability in our business sectors while accelerating the introduction of new end-to-end service capabilities. As we continue to innovate in technologies that support entry to new segments, we will expand the opportunity set for our Company and create new revenue streams to support growth.”
Breaking down the quarterly numbers into their segments showed that Network Services (39 per cent of revenue) fell back 4 per cent to $212.2 million. Media revenues for the quarter (42 per cent) were just 1 per cent down at $226.2 million, although the full-year position showed growth of 5 per cent to $910.1 million.
Intelsat’s important governmental and military revenues (17 per cent of total) for the quarter year fell 3 per cent to $90.1 million. Looking at the year overall this segment suffered a 9 per cent fall to $352.6 million.
Intelsat’s average fill rate at December 31st 2017 on its approximately 1,950 station-kept wide-beam transponders was 79 per cent, as compared to an average fill rate at September 30th 2017 of 78 per cent on 2,025 transponders, reflecting the reclassification of two satellites into inclined orbit operations. High-throughput satellite Intelsat EpicNG capacity was unchanged from Q3/2017 at approximately 825 units. Intelsat 37e, launched in September 2017, is planned for entry into service in the first quarter of 2018.
Intelsat has two satellite launches scheduled for 2018. Intelsat 38 is planned to launch in the second quarter of 2018, and Horizons 3e is planned to launch in the third to fourth quarters of 2018.