Intelsat posts Q2 results

Intelsat said its Q2 results were in line with expectations, despite experiencing a drop in revenues.

The satellite services provider recorded revenues of $615.7 million, falling from $653.8 million the previous year. However, it posted an EBITDA of $485.5 million for the three months ending June 30, which was an increase on last year’s $435.7 million.

The company also stated that it has a contracted backlog of $10.3 billion for future revenue and cash flow, including a 15-year agreement with a pay television operator in Africa.

“With the benefits of strong adjusted EBITDA margins, lower than average life-cycle capital expenditures and reduced interest costs producing strong cash flows, we continue to demonstrate progress on the first phase of our two-phase investment thesis,” said Intelsat CEO Dave McGlade.

In its last quarter, the operator launched a new satellite programme with direct-to-home ("DTH") operator, MultiChoice.

It is also due to launch 30 satellites in Q4.

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