Eutelsat Reports Third Quarter 2018 Results
Paris, France, May 14, 2018–Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) today reported revenues for the Third Quarter and Nine Months ending March 31, 2018. Third Quarter revenues were €337 million, down -7.4%, while nine month revenues of €1,034 million, down 5.0%
The company said that overall trend for operating verticals is improving, down only 1.1%. Rodolphe Belmer, Chief Executive Officer, commented: “In the third quarter, the overall revenue trend of our five operating verticals improved further at -1.1% after -1.8% at the half-year stage. Video continued to progress, notably with improving trends at our HOTBIRD video position, while in Government Services the outcome of the latest US Department of Defense renewals was positive once again, at above 95%. On the other hand, ‘Other Revenues’ are running behind expectations following the outturn of the Third Quarter.
We are working on a handful of active “Other Revenues” opportunities in the pipeline which would enable us to land at the low end of our Full Year total revenues objective of -1 to -2%. However, in the event that none of these “Other Revenues” materialize in the fourth quarter, the decline in revenues could be up to c. -3.5%. This has no impact on our other objectives for the current and following two years which are fully confirmed.
The year to date has seen significant headway on our strategic roadmap. In particular the procurement of KONNECT VHTS, represents a major milestone in our growth strategy in Connectivity and comes with major multi-year distribution commitments with Orange and Thales. Elsewhere, the disposal of our stake in Hispasat will contribute to accelerating our deleveraging in line with our commitment to financial optimisation,” said Belmer.
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