Eutelsat Communications has
announced robust first-quarter results for the period ending September 30,
2024, with total revenues reaching €300 million—an increase of 9.4% on a
reported basis and 5.9% on a like-for-like basis.
Among its four main business
segments—video, government services, mobile connectivity, and fixed
connectivity—total revenues amounted to €297 million, showing a 5.5%
like-for-like increase, excluding a €1 million currency effect. However,
quarter-over-quarter revenues for these segments dipped by 11.9% on a
like-for-like basis.
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Fixed connectivity was the standout
performer, with revenue surging 30% year-over-year to €56.5 million, now
comprising 19% of Eutelsat’s revenue. This growth was significantly driven by
OneWeb's Low-Earth Orbit (LEO) services, notably through the joint venture with
Neom. The entry into service of the Konnect VHTS satellite also contributed to
this revenue boost.
The mobile connectivity segment saw
revenues increase to €42 million, a 19% rise year-over-year, accounting for 14%
of the company’s revenue. Growth in this area stemmed from both LEO-based
connectivity solutions and strong performance in GEO services, particularly
within aviation.
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Government services revenue rose 20%
year-over-year to €46.4 million, making up 16% of the total revenue. Meanwhile,
video services, which continue to represent over half of the company's revenue
at €152 million or 51%, experienced a 7% decline year-over-year despite a
temporary lift from the 2024 Olympic Games.
Source: https://www.broadcastprome.com/
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