Eutelsat Achieves Revenue Growth and Expands Connectivity with New Partnerships

Eutelsat Communications reported its financial results for the first quarter ending 30 September 2024, posting total revenues of €300 million. This figure reflects a 9.4% increase on a reported basis and a 5.9% increase on a like-for-like basis. The revenue from Eutelsat’s four main operating verticals stood at €297 million, marking a 5.5% increase on a like-for-like basis after excluding a negative currency effect of €1 million. However, quarter-on-quarter, revenues from these operating verticals saw a decrease of 11.9% on a like-for-like basis.

The Video vertical generated €152 million in the first quarter, indicating a 7.3% year-on-year decline, which aligns with the ongoing secular market decline in traditional video services. Professional Video revenues, accounting for less than 10% of the Video vertical, also decreased due to lower occasional use, with a quarter-on-quarter decline of 4.5%.

In terms of strategic advancements, Eutelsat achieved significant milestones, particularly in satellite deployment and partnerships. The recent successful launch of 20 additional OneWeb satellites bolsters Eutelsat’s low Earth orbit (LEO) capabilities, enhancing global connectivity options.

Noteworthy commercial developments this quarter include Eutelsat’s agreement with Bayobab, a subsidiary of the MTN Group. This partnership aims to leverage the OneWeb constellation to provide enterprise connectivity and cellular backhaul services across Africa. This collaboration is set to expand digital reach for businesses and remote communities, positioning Eutelsat as a crucial player in Africa’s digital transformation journey.