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Eutelsat maintains its annual targets

(AOF) – Eutelsat rose 4% in Paris, to 10.93 euros per share, after the publication of its quarterly turnover. The satellite operator experienced in the third quarter of its 2021-2022 financial year a decline in its activity of 4.8% over one year (-2.7% on a comparable basis) to 286.8 million euros. Revenue from the five operating activities amounted to 285 million (-3.5% on a like-for-like basis), excluding a negative scope effect of around 3 points related to the sale of Euro Broadband Infrastructure (EBI) on April 30, 2021 and a positive currency effect of around 3 points.

“The third quarter was marked by solid performance, with an improving trend in Broadcast and strong double-digit growth in Fixed Broadband and Mobile Connectivity while the evolution of Government Services inevitably reflected the geopolitical environment in the Middle East,” said Eva Berneke, CEO of the satellite operator.

The Broadcast activity, which alone accounts for 61% of turnover, fell by 6.8% over one year, but nevertheless improved compared to the second quarter when it had experienced a decline of 8.6%. . “The decline in revenues mainly reflects the effect of the partial renewal of capacity with Nilesat at 7/8° West, which is not offset by the resale of this capacity, and in addition, a slight erosion of the underlying business in Europe”, explains Eutelsat.

Data and Professional Video (14% of revenue) and Government Services (12% of revenue) recorded respective declines of 2.7% and 11.3% on a comparable basis, while the High Fixed Speed ​​(6% of revenue) and Mobile Connectivity (7% of revenue) grew by 30.2% and 24.5%.

Over the first nine months of the financial year, the group’s turnover thus amounted to 859 million euros, down 7.6% on a reported basis and 4% on a comparable basis, of which 853 million (-4%) for operational activities.

“Overall, the turnover for the first nine months is in line with our expectations, and we thus confirm all of our financial objectives”, indicated Eva Berneke. For the whole of the 2021-2022 financial year, Eutelsat is aiming in particular for revenue from Operating Activities for the current financial year of between 1.11 and 1.13 billion euros.

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