Eutelsat Announces First Quarter 2023-24 Results

Paris, France, October 26, 2023 – Satellite operator Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the First Quarter ended 30 September 2023.

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  • Operating Vertical revenues of €273m, down 2.4% like-for-like on a year-on-year basis. They rose by 2.9% on a sequential basis (quarter-on-quarter), excluding a one-off contract booked in Government services in Q4 FY 2022-
  • Continued robust double-digit growth in Mobile Connectivity:
  • Commercialization of the final beam on EUTELSAT QUANTUM. All of the satellite’s capacity is now commercialized, just 18 months following its entry into service.
  • Multi-year, multi-million euro contract with Marlink, for capacity on EUTELSAT 10B for maritime Connectivity in EMEA
  • Successful entry into service of the EUTELSAT KONNECT VHTS satellite, driving connectivity growth with 500 Gbps of incremental capacity and firm commitments totalling c.€450m.
  • Eutelsat/OneWeb combination project approved on 28 September 2023.
  • All financial objectives for Eutelsat Group are confirmed; they replace Eutelsat standalone objectives.
  • Further strong commercial momentum at OneWeb; backlog close to $1.0bn[1], up 66% year-on-year.

[1] Of which $275m is with Eutelsat.