The recent problems with the Proton launch rocket have caused satellite operator Inmarsat to temper its revenue outlook. The recent Proton launch failure has delayed the launch of the second and third Inmarsat-5 satellites, and hence the start of its GX services on a global basis is now not expected until the first half of 2015. As a result, GX and, therefore Inmarsat Global MSS revenues, will be correspondingly lower than previously expected over 2014-16. However, the company still expects Inmarsat Global MSS revenues to show a CAGR of 8-12 percent in the period 2014-2106, in line with its medium-term outlook.
The overall trading environment for its L-band and other business lines remains positive, except in the US government sector, where all satellite operators are suffering from budget cutbacks. The company gave the news alongside second-quarter results showing revenues down to USD 307.6 million from USD 326.6 million a year ago. Global MSS revenues were up slightly to USD 196.1 million from USD 195.9 million, while EBITDA fell to USD 159.9 million from USD 174.0 million a year earlier.
