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Inmarsat results highlight FB to VSAT migration

Migration from FB to FX has accelerated according to Inmarsat’s figures Migration from FB to FX has accelerated according to Inmarsat’s figures

Inmarsat has reported its financial results for the first half of 2017, with maritime revenue for the six months down by 3.9 per cent to $278.4 million compared with the same period last year, as customers move from FleetBroadband on to VSAT services.

{mprestriction ids="1,2"}FleetBroadband (FB) continues to be the company’s major maritime revenue source, with the $87.9 million generated in the second quarter of this year representing almost two thirds of the Q2 2017 maritime revenue total of $139.3 million.

This FB quarterly revenue is a reduction of more than $6 million compared with Q2 2016, however this has been offset by an increase in VSAT revenues (from both the XpressLink and Fleet Xpress products) of more than $5 million when comparing the second quarters of 2016 and 2017.

These results have also been impacted by migration from Inmarsat's L-band service to the Ka-band VSAT product, which included 358 vessels during Q2 2017. Fleet Xpress (FX) added another 209 vessels from new customers for the quarter, while XpressLink migrations for the period numbered 435 ships.

The net installation run rate for Fleet Xpress has risen to 266 ships per quarter in the first half of 2017, compared with an average of 136 VSAT ship additions per quarter during 2016. The installation order book stands at approximately 680 at the end of the first half of 2017, the company says, with some 1,337 FX vessels installed by the end of the period.

Fleet One, Inmarsat’s L-band service for smaller vessels, has also shown strong growth in 2017, with approximately 400 new users added during the second quarter of the year to take the customer base past 2,000 vessels at the end of the June 2017. Average revenue per Fleet One user stands at around $90 per month.{/mprestriction}

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