Intelsat Reports Fourth Quarter and Full Year 2012 Result
Plans replacement satellite, Intelsat 27R; updates guidance for capital expenditures
28 February 2013
Intelsat S.A., reported financial results for the three and twelve months ended December 31, 2012.
Intelsat S.A. reported revenue of $672.4 million and a net loss of $3.7 million for the three months ended December 31, 2012. The company also reported Intelsat S.A. EBITDA1, or earnings before net interest, loss on early extinguishment of debt, taxes and depreciation and amortization, of $520.0 million, and Intelsat S.A. Adjusted EBITDA1 of $516.5 million, or 77 percent of revenue, for the three months ended December 31, 2012.
For the twelve months ended December 31, 2012, Intelsat S.A. reported revenue of $2,610.2 million and a net loss of $146.6 million. The company also reported Intelsat S.A. EBITDA of $1,940.6 million, and Intelsat S.A. Adjusted EBITDA of $2,016.5 million, or 77 percent of revenue, for the twelve months ended December 31, 2012. Contracted backlog at December 31, 2012, was $10.7 billion.
Intelsat CEO Dave McGlade said, "In 2012, we achieved steady revenue and Adjusted EBITDA performance while accomplishing a number of important milestones that improve our growth profile. We launched and placed into service five new satellites, with capacity that refreshed our premier video neighborhoods and established the first global broadband mobility infrastructure. We also announced our next generation satellite platform, Intelsat EpicNG , which is based on spot-beam, high-throughput technology that enables increased bandwidth quantity and efficiency to support future customer growth and access to expanded markets. We positioned Intelsat for further diversification of our government business when selected as a supplier under the Custom SatCom Solutions contract.
"While the failure of the launch of Intelsat 27 early this month was deeply disappointing, we are already reconfiguring our satellite fleet to accommodate customer requirements, including on our global broadband mobility infrastructure, a demonstration of the resilience and flexibility of our global satellite network. We also plan to order a replacement satellite with a payload that addresses the specific needs of our media customers in the Americas. We enter 2013 with $10.7 billion in contract backlog and the resources to meet expanding demand for broadband connectivity, global media distribution solutions, and innovative, end-to-end government services."