Eutelsat Reports Revenue Drop – Fixed Broadband Revenue up by 9%
The satellite company has experienced a decline if revenue 3.5% YoY over all verticals for the year’s nine months operating and Third Quarter Operating Verticals revenues down 6.1% year-on-year which is in line with expectations.
“This Quarter has seen some important operational milestones, notably the outcome of the Spring renewal campaign with the US administration well above historical average, while the increase in our backlog reflects our important recent commercial wins. Most notably, we are now seeing real momentum in our Fixed Broadband ramp-up with EUTELSAT KONNECT now at full coverage, enabling us to make tangible progress in Western Europe with retail operations extended to new territories and gross additions gaining pace.”
Rodolphe Belmer, Chief Executive Officer of Eutelsat Communications
The company’s KONNECT satellite providing high-bandwidth coverage of Western Europe and sub-Saharan Africa with full coverage is now available. EUTELSAT has reached a wholesale agreement with Vox in South Africa and is testing wholesale distribution with Orange in DRC. In addition, the company recently announced a partnership with Facebook to roll out Express Wi-Fi hotspots across our African footprint.
“Distribution has also been strengthened in Africa, notably with a partnership with Facebook to roll out Express Wi-Fi hotspots across our African footprint. The outturn of our Third Quarter revenues performance is fully in line with our expectations and enables us once again to raise the bottom end of our objective range for the year as a whole, as well as to reconfirm all other elements of our financial guidance. From a strategic perspective, recent weeks have been marked by our entry into the LEO space through our investment in OneWeb, which represents a compelling entry point to address the considerable LEO opportunity as well as an additional growth engine for the Group’s connectivity activities”.
Rodolphe Belmer, Chief Executive Officer of Eutelsat Communications
