Intelsat has posted revenues of $482.78 million for the last quarter of 2020.
This, according to the company in its latest set of results, was down from $516.95 million in the same period in 2019.
Its adjusted EBITDA was $307.61 million ($371.26 million) and net loss -$270.99 million (-$114.36 million).
Commenting on the last quarter and full year results, Intelsat’s CEO Stephen Spengler, said, “The Covid-19 pandemic made 2020 a challenging year; however, we are proud of our ability to maintain a high standard of operations and delivery of mission critical services to our customers. The strategic value of our global network and the services it provides to our customers was reaffirmed during the year. Our mobility customers were significantly impacted by the reduction in travel in both the maritime and aeronautical sectors, yet they renewed contracts and committed to new business with Intelsat. In addition to ongoing business trends, the media services business was also affected by weakening market currencies and a reduction in occasional use revenue, attributable in large part to Covid-19. Satellite network services and the uptake of our FlexGround land mobility managed service drove positive momentum for the government services business”.
He added: “As we look to 2021 and beyond, our team is focused on the delivery of high-value services to our customers, and also on the catalysts that will drive the transformation of our business. These include executing on the C-band relocation to secure the accelerated payments, successfully integrating and expanding the Intelsat commercial aviation business and emerging from restructuring as a healthy and flexible company. We are investing in our next-generation software defined network, which will be critical to this transformation and enable us to deliver on our strategy to be an industry leader in end-to-end managed services”.