Telenor’s Revenue Flat but Maritime Business Grows

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PARIS — Satellite fleet operator Telenor Satellite Broadcasting of Norway reported flat revenue and a dip in gross profit for the three months ending June 30, but said the results were partly offset by growth in its maritime communications business.

Oslo-based Telenor operates the Thor 5 and Thor 6 satellites at its 1 degrees west orbital slot, where it also shares ownership of the Intelsat 10-02 satellite operated by Intelsat of Luxembourg and Washington.

The Thor 3 satellite, in inclined orbit and nearing the end of its life, is stationed at 4.3 degrees west.

Thor 7, under construction by Space Systems/Loral of Palo Alto, Calif., is scheduled for launch in the second half of 2014 and will carry Telenor’s standard Ku-band payload plus a Ka-band beam for maritime high-speed connections.

For the three months ending June 30, Telenor reported revenue of 246 million Norwegian kroner ($40.5 million), flat from the same period a year ago. EBITDA, or earnings before interest, taxes, depreciation and amortization, was 64 percent of revenue, down from 68 percent in the first three months of this year and 67 percent a year ago.

Telenor said it reported higher operating expenses despite a stable underlying cost structure because of the effect of a future potential contract. The company said this contract may or may not materialize.

Telenor said it had booked five new customers for its Ku-band maritime communications business in the Mediterranean.