Overview

• Eutelsat reported annual revenues of €1.23 billion for the year ended June 30, beating analyst forecasts of €1.21 billion by 0.8%.
• Revenues from its low Earth orbit satellites surged 84.1% to €187 million, and the company forecasts a further 50% increase next year.
• It took a €1.1 billion impairment charge on its 34 geostationary satellites, reflecting the decline in its legacy broadcast and fixed-internet business.
• The company installed a new CEO and chairman and secured €1.5 billion in capital injections led by the French state, the UK government and Bharti Group.
• Government and corporate demand, notably for Ukraine’s battlefield communications funded by Germany, drove higher service revenues from Europe and other non-U.S. clients.