Record Occasional-use Business Boosts Telenor’s Quarterly Revenue
PARIS — Satellite fleet operator Telenor Satellite Broadcasting of Norway reported a 2 percent increase in revenue and higher gross profit for the three months ending June 30, saying it booked a record amount of occasional-use business.
Oslo-based Telenor, in a July 24 financial statement, said its satellite capacity at 1 degree west is also seeing a shift in data business from land-based to maritime markets. Telenor hopes to capture a larger share of the growing maritime communications market with the Thor 7 satellite, which features Ka-band capacity and is scheduled for launch in late 2013.
Telenor has said that maritime customers booking Ku-band capacity in its current satellites will be offered a path to upgrade to the higher-speed Ka-band capacity — which will require new ship hardware — once Thor 7 is launched.
For the three months ending June 30, Telenor Satellite Broadcasting reported revenue of 248 million Norwegian kroner ($41.3 million), up 2 percent from the same period a year ago.
EBITDA, or earnings before interest, taxes, depreciation and amortization, was 67 percent of revenue compared with 65 percent a year ago. Telenor said that after removing foreign exchange effects and other one-time elements from the figures, EBITDA improved by 3 percent.
Cato Halsaa, chief executive of Telenor Satellite Broadcasting, said the increase in occasional-use contracts followed the company’s decision to reallocate to Europe capacity on the IS 10-02 satellite, which it shares withof Luxembourg and Washington.
Telenor announced separately that its occasional-use capacity at 1 degree west is nearly sold out for the London Olympics.