PARIS โ€” The Arianespace launch consortium expects to report a slight profit on revenues of about 700 million euros ($948 million) for 2004 and has eliminated its corporate debt following a capital infusion by its shareholders, Arianespace Chief Executive Officer Jean-Yves Le Gall said Jan. 4.

The company launched just three times in 2004 and plans six Ariane 5-rocket launch campaigns in 2005, including two or three of the companyโ€™s enhanced Ariane 5 ECA, which failed in its December 2002 debut. Le Gall said Arianespace expects to remain marginally profitable in 2005 on substantially higher sales.

But Le Gall also said the share-capital increase of 60 million euros approved by shareholders in December has left Arianespace with just 395,000 euros after debt repayment. He characterized the sum as โ€œa bit weakโ€ and said it could be strengthened by further shareholder investment in mid-2005.

Arianespace shareholders are scheduled to meet in mid-June to close the companyโ€™s 2004 financial account and may decide on further investments at that time, Le Gall said.

As of Dec. 31, Arianespace had a backlog of 40 satellites to be launched and had received advance launch payments of more than 360 million euros.

At a press conference here, the Evry, France-based company reaffirmed that it intends to launch its long-delayed Ariane 5 ECA rocket in February if all goes well in a planned Jan. 12 wet dress rehearsal of the vehicle. An October rehearsal, during which the fuel tanks are filled and the vehicle is brought to its launch pad for a trial countdown, was stopped because of a component failure.

Arianespace announced Jan. 4 that it had signed contracts with the French space agency, CNES, for the launch of the two Pleiades high-resolution optical Earth observation satellites, in 2008 and 2009 aboard Russian-built Soyuz rockets operated by Arianespace from Europeโ€™s Guiana Space Center in equatorial French Guiana. A Soyuz launch pad at that site is under construction, with a first launch scheduled for 2007.

CNES also contracted with Arianespace for the launch of the Corot astronomy satellite โ€” also aboard a Soyuz, but this one from the vehicleโ€™s traditional launch site at the Russian-run Baikonur Cosmodrome in Kazakhstan โ€” in 2006.

Arianespace and EADS Astrium Ltd. of Stevenage, England, also confirmed Jan. 4 that Arianespace will launch Britainโ€™s two Skynet 5 military communications satellites in mid-2006 and mid-2007.

Peter B. de Selding was the Paris bureau chief for SpaceNews.