Eutelsat Communications Reports First Quarter Results with Double-Digit Growth Expected in Mobile and Fixed Connectivity

Eutelsat Communications reports revenues for the First Quarter ended 30 September 2023.

For the First Quarter, Eutelsat Communications reported total revenues of €274 million, down 4.7% on a reported basis and 0.8% like-for-like. Revenues of the four Operating Verticals (ie, excluding ‘Other Revenues’) stood at €273 million, down 2.4% on a like-for-like basis excluding a negative currency effect of €8 million and a negative perimeter effect of c. -1 point from the disposal of the BigBlu retail broadband operations in late June 2023.

Mobile Connectivity revenues stood at €35 million, up 44.1% year-on-year, reflecting the commercialization of the final beam on EUTELSAT QUANTUM for a maritime mobility client and the successful entry into service of the high-throughput satellite, EUTELSAT 10B, with 500 Gbps of incremental capacity and firm commitments totalling c.€450m. Mobile Connectivity is expected to see double-digit growth for the Full Year driven by strong demand for both GEO and LEO-based connectivity solutions.

Fixed Connectivity revenues stood at €40 million, down by 2.6% year-on-year, but up 6.5% quarter-on-quarter on the back of the resale of OneWeb capacity for data usages in Alaska. Over the Full Year, Fixed Connectivity is set to deliver double-digit growth on the back of the entry into service of KONNECT VHTS as well as the contribution from LEO connectivity offers.

Overall, Eutelsat Communications is confident in its ability to deliver on its Full Year objectives, with revenues expected to be in the range of €1.135 billion to €1.150 billion, and EBITDA expected to be in the range of €645 million to €660 million.