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THIRD QUARTER AND NINE-MONTH 2023-24 REVENUES

14/05/2024

Press release - 14 May 2024 18:00

THIRD QUARTER AND NINE-MONTH 2023-24 REVENUES Share on Facebook Share on Linkedin Share on Twitter Download as PDF

Third Quarter Operating Verticals revenues of 300.3m

8.5%1 year-on-year

1.4%1 quarter-on-quarter

Sustained double-digit growth in Connectivity

Nine Month Operating Verticals revenues up 3.6% [1] year-on-year

FY 2023-24 financial objectives confirmed.

Paris, 14 May 2024 - Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2024.

HIGHLIGHTS

Third Quarter and Nine-month revenues in line with expectations.

Video in line with overall market trend of mid-single digit decline; base effect of non renewal of Digit rk contract and Russian sanctions washed through from Q3.

Double-digit growth in Connectivity (Government Services: 22.1%; Mobile Connectivity: 48.0%; and Fixed Connectivity: 24.2%), driven by incremental GEO capacity and LEO.

All Full Year 2023-24 financial objectives confirmed.

Successful launch of EUTELSAT 36D satellite, assuring service continuity with optimised performance for video customers at the 36 East orbital position.

Major $500m commercial deal with Intelsat for capacity on OneWeb LEO constellation.

OneWeb ground network roll-out on track.

Refinancing of November 2025 bond completed.

[1] Like-for-like change.[1] Change at constant currency and perimeter. The variation is calculated as follows: i) Q3 2023-24 USD revenues are converted at Q3 2022-23 rates; ii) the contribution of the BigBlu retail broadband operations from 1st January 2023 to 31 March 2023 is excluded from Q3 2022-23 revenues iii) Q3 2022-23 revenues are restated to take into account the contribution of OneWeb as if the operation had been completed from July 1st 2022; iv) Hedging revenues are excluded.

Full press release available here

Topics

Telecom

Radio, TV

Electronic business, communication

Innovations, inventions

Network products

Telecommunication, mobile telephony

About Eutelsat Group

Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 36 Geostationary satellites and a Low Earth Orbit (LEO) constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group's unique suite of in-orbit assets and ground infrastructure enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and the Eutelsat Group employs more than 1,700 people across more than 50 countries. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange (ticker: ETL) and the London Stock Exchange (ticker: ETL)

Find out more at www.eutelsat.com

Media enquiries

Joanna Darlington

Tel. 33 674 521 531

jdarlington@eutelsat.com

Anita Baltagi

Tel. 33 643 930 178

abaltagi@eutelsat.com

Katie Dowd

Tel. 1 202 271 2209

kdowd@oneweb.net

Investors

Joanna Darlington

Tel. 33 674 521 531

jdarlington@eutelsat.com

Hugo Laurens Berge

Tel. 33 670 80 95 58

hlaurensberge@eutelsat.com

DISCLAIMER

The forward-looking statements included herein are for illustrative purposes only and are based on management's views and assumptions as of the date of this document. Such forward-looking statements involve known and unknown risks. For illustrative purposes only, such risks include but are not limited to: risks related to the health crisis; operational risks related to satellite failures or impaired satellite performance, or failure to roll out the deployment plan as planned and within the expected timeframe; risks related to the trend in the satellite telecommunications market resulting from increased competition or technological changes affecting the market; risks related to the international dimension of the Groups customers and activities; risks related to the adoption of international rules on frequency coordination and financial risks related, inter alia, to the financial guarantee granted to the Intergovernmental Organizations closed pension fund, and foreign exchange risk. Eutelsat Communications expressly disclaims any obligation or undertaking to update or revise any projections, forecasts or estimates contained in this document to reflect any change in events, conditions, assumptions, or circumstances on which any such statements are based, unless so required by applicable law. The information contained in this document is not based on historical fact and should not be construed as a guarantee that the facts or data mentioned will occur. This information is based on data, assumptions and estimates that the Group considers as reasonable.

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LINK: https://eutelsat-com.mynewsdesk.com/pressreleases/third-quarter-and-ni...
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