Inmarsat published this morning its Q3 results. Group revenues (excluding Ligado) were up 3.9% yoy to $336.4m, driven by Aviation. This was in line with the consensus. The strong growth in Aviation (+34%) is, however, overshadowed by a disappointing decline in Maritime (-5.7%). EBITDA was up 7.9% yoy to $173.6m, with an EBITDA margin of 55.9% (vs. 54.3%. Q3 17), driven by a strong EBITDA performance in Aviation and lower Central Services costs. This came in largely above consensus which expec
08 Nov 2018
Disappointing on the Maritime side, but bright perspectives from Aviation
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Disappointing on the Maritime side, but bright perspectives from Aviation
Inmarsat published this morning its Q3 results. Group revenues (excluding Ligado) were up 3.9% yoy to $336.4m, driven by Aviation. This was in line with the consensus. The strong growth in Aviation (+34%) is, however, overshadowed by a disappointing decline in Maritime (-5.7%). EBITDA was up 7.9% yoy to $173.6m, with an EBITDA margin of 55.9% (vs. 54.3%. Q3 17), driven by a strong EBITDA performance in Aviation and lower Central Services costs. This came in largely above consensus which expec