Eutelsat Reports Third Quarter Operating Verticals Revenues of €285m

Paris, France, May 12 2022 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2022. Highlights of the results include:

  • Third Quarter Operating Verticals revenues of €285m
    • -3.5%1 year-on-year
    • -0.7%1 quarter-on-quarter
  • Broadly stable Broadcast revenues quarter-on-quarter
  • Strong growth in Fixed Broadband and Mobile Connectivity
  • Nine Month operating vertical revenues down 4.0%1 year-on-year, in line with expectations
  • All financial objectives confirmed

Eva Berneke, Chief Executive Officer of Eutelsat Communications, said: “The Third Quarter saw robust delivery, with an improvement in Broadcast trend and strong double-digit growth in both Fixed Broadband and Mobile Connectivity whereas Government Services inevitably reflected the geopolitical environment in the Middle East. Recent months have seen meaningful progress on the commercial front in particular with the successful commercialization of EUTELSAT QUANTUM. Elsewhere, our global distribution agreement with OneWeb to address key connectivity verticals enhances the competitive position of both companies and represents a first step towards the development of combined GEO/LEO solutions. Overall, revenues at the Nine Month stage are in line with our expectations, and we confirm all our financial objectives.”

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1. Like-for-like change.
2. Change at constant currency and perimeter. The variation is calculated as follows: i) Q3 2021-22 USD revenues are converted at Q3 2020-21 rates; ii) the contribution of Eurobroadband Infrastructure (EBI) is excluded from Q3 2020-21 revenues; iii) Hedging impact is excluded from Other Revenues.
3. Other Revenues include mainly the impact of EUR/USD revenue currency hedging, the provision of various consulting/engineering services and termination fees.