Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2024.
THIRD QUARTER AND NINE-MONTH 2023-24 REVENUES
- Third Quarter Operating Verticals revenues of €300.3m
- +8.5%1 year-on-year
- +1.4%1 quarter-on-quarter
- Sustained double-digit growth in Connectivity
- Nine Month Operating Verticals revenues up 3.6% year-on-year
- FY 2023-24 financial objectives confirmed.
Paris, 14 May 2024 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2024.
- Third Quarter and Nine-month revenues in line with expectations.
- Video in line with overall market trend of mid-single digit decline; base effect of nonrenewal of Digitürk contract and Russian sanctions washed through from Q3.
- Double-digit growth in Connectivity (Government Services: +22.1%; Mobile Connectivity: +48.0%; and Fixed Connectivity: +24.2%), driven by incremental GEO capacity and LEO.
- All Full Year 2023-24 financial objectives confirmed.
- Successful launch of EUTELSAT 36D satellite, assuring service continuity with optimised performance for video customers at the 36° East orbital position.
- Major $500m commercial deal with Intelsat for capacity on OneWeb LEO constellation.
- OneWeb ground network roll-out on track.
- Refinancing of November 2025 bond completed.
Change at constant currency and perimeter. The variation is calculated as follows: i) Q3 2023-24 USD revenues are converted at Q3 2022-23 rates; ii) the contribution of the BigBlu retail broadband operations from 1st January 2023 to 31 March 2023 is excluded from Q3 2022-23 revenues iii) Q3 2022-23 revenues are restated to take into account the contribution of OneWeb as if the operation had been completed from July 1st 2022; iv) Hedging revenues are excluded.