The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), chaired by Éric Labaye, released the financial results for the year ended 30 June 2026.Total revenues for FY 2025-26 stood at €1,235.9 million, down 0.6% on a reported basis and up by 3.0% like-for-like. Revenues of the four Operating Verticals (excluding ‘Other Revenues’) stood at €1,197.1 million, up by 1.8% on a like-for-like basis.
LEO revenues amounted to €297 million, up 69.5%1, and now accounting for 25% of revenues, up from c.15% a year ago.
Adjusted EBITDA stood at €632.4million on 30 June 2026, down 3.1% like-for-like. The Adjusted EBITDA margin stood at 51.2%, down 3.2 points like-for-like1.
This was in line with our financial projections of Operating Vertical Revenues around the same level, and an adjusted EBITDA margin slightly below the level of the previous year.
Jean-François Fallacher, Chief Executive Officer of Eutelsat commented: "This has been a landmark year for Eutelsat. We have delivered on our financial objectives while achieving significant strategic milestones that reinforce our long-term growth trajectory. Our Low Earth Orbit business continued its strong momentum, with revenues increasing by nearly 70%, demonstrating the growing demand for secure, resilient and low-latency connectivity solutions across government and enterprise markets. Over the past year, we have fundamentally strengthened the Company's financial foundations through the successful completion of a comprehensive €5 billion refinancing, providing a robust and diversified capital structure to support our ambitions. At the same time, we secured major commercial wins, including our first call-off contract under the French Armed Forces' NEXUS framework agreement, further validating the strategic value of our multi-orbit capabilities for sovereign customers.
