Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2024.
HIGHLIGHTS
- 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.