Press release -
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% [1] 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.
[1] 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.
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About Eutelsat Group
Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 36 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group’s unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL)
Find out more at www.eutelsat.com
Media enquiries
Joanna Darlington
Tel. +33 674 521 531
jdarlington@eutelsat.com
Anita Baltagi
Tel. +33 643 930 178
abaltagi@eutelsat.com
Katie Dowd
Tel. +1 202 271 2209
kdowd@oneweb.net
Investors
Joanna Darlington
Tel. +33 674 521 531
jdarlington@eutelsat.com
Hugo Laurens Berge
Tel. +33 670 80 95 58
hlaurensberge@eutelsat.com
DISCLAIMER
The forward-looking statements included herein are for illustrative purposes only and are based on management’s views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Group's customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organization's closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.
