Overview

• Eutelsat reported annual revenues of €1.23 billion for the year ended June 30, surpassing analysts’ consensus of €1.21 billion.
• Low Earth orbit sales jumped 84.1 percent to €187 million, led by Ukrainian connectivity contracts funded by the German government.
• Geostationary operations incurred a €1.1 billion impairment as connectivity revenues fell over 7 percent and video revenues declined 6.5 percent.
• Management forecasts a further 50 percent increase in LEO revenues next year while expecting flat overall revenue and a slightly reduced EBITDA margin.
• A €1.5 billion capital injection spearheaded by France and Britain, plus a €1 billion framework deal with France’s Armed Forces, underwrites orders for 440 additional LEO satellites.