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EUTELSAT GROUP FULL YEAR 2023-24 RESULTS
FULL YEAR 2023-24 RESULTS
- All Full Year 2023-24 objectives attained
- Operating verticals revenues of €1,268m, within our expected range
- Adjusted EBITDA of €698m, exceeding objective
- Order backlog of €3.9bn, boosted by LEO pipeline
Paris, 9 August 2024– The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the year ended 30 June 2024.
HIGHLIGHTS
- FY 2023-24 results in line with objectives with Operating Verticals revenues of €1,268 million and adjusted EBITDA of €698m1
- Eutelsat / OneWeb combination closed end-September 2023 creating the first LEO-GEO operator.
- Growth in Connectivity thanks to acceleration of LEO revenues as well as incremental GEO capacity.
- Robust commercial traction, notably with major, multi-application contract with Intelsat on LEO constellation.
- Operational successes including entry into service of KONNECT VHTS and EUTELSAT 10B, launch of EUTELSAT 36D, and completion of space-segment of OneWeb Constellation.
- Successful refinancing of November 2025 EUTELSAT S.A. and RCF bond completed at the end of March with issuance of €600 million of senior notes, due 2029.
FY2023-24 objectives updated in January 2024 i) Pro-forma with 12 months’ OW figures; Based on a €/$ rate of 1.00; ii) Revenues in a range of €1.25bn to €1.3bn; iii) Adjusted EBITDA in a range of €650m to €680m