Paris, 28 October 2015 - Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) today reported revenues for the first quarter ended 30 September 2015.
Three months to 30 September 2015
In millions Q1 2014-15 Q1 2015-16 Actual change Change at constant currency
Video Applications 227.6 229.4 0.8% -1.6%
Data Services 51.2 58.8 14.9% -0.3%
Value-Added Services 26.3 29.7 13.1% 12.4%
Government Services 44.5 53.0 19.2% -0.7%
Other revenues 8.0 16.7 x2.1 x2.0
Sub-total 357.6 387.7 8.4% 2.0%
Non-recurring revenues - - - -
Total 357.6 387.7 8.4% 2.0%
EUR/USD exchange rate 1.35 1.11 - -
Commenting on the First Quarter, Michel de Rosen, Chairman and CEO, said: Eutelsat's first quarter revenues were up 2.0% at constant currency and put us on track to deliver on our full-year objectives. The entry into service of EUTELSAT 8 West B and EUTELSAT 115 West B will bring new capacity during the second quarter, which will ramp-up as the year progresses. We have taken major steps to position ourselves to grasp the significant opportunities on the African Broadband market with the lease AMOS-6 Ka-band payload in partnership with Facebook and the procurement of a follow-on standalone high throughput satellite for Africa.
RECENT OPERATING HIGHLIGHTS
The Group has had several recent contract successes in Video and Data applications in all geographies, which are detailed later in this release.
Early October saw the entry into service of two new satellites: EUTELSAT 8 West B, boosting coverage of the MENA region, followed by EUTELSAT 115 West B which started operations ahead of schedule and brings additional resources to meet demand in LATAM.
Eutelsat's African Broadband initiative was kicked off with the lease of the AMOS-6 Ka-band payload in partnership with Facebook and the subsequent procurement of a follow-on standalone High Throughput Satellite to serve the African market.
Finally, as part of its initiatives to advance the adaptation of the satellite industry to evolving video landscapes, Eutelsat along with SES, launched Future Video Initiative' to develop and promote next-generation video technologies, standards and formats.
FIRST QUARTER REVENUE ANALYSIS[1]
Total revenues for the first quarter ending 30 September 2015 stood at 387.7 million, up 2.0% at constant currency. The appreciation of the dollar relative to the euro added 6.4 points to top-line growth, particularly visible in Government Services and to a lesser extent in Data Services.
[1]The share of each application as a percentage of total revenues is calculated excluding other revenues and non-recurring revenues . Unless otherwise stated, all growth indicators are made in comparison with first quarter ended 30 September 2014.
VIDEO APPLICATIONS (62% of revenues)
First quarter revenues for Video Applications amounted to 229.4 million, down 1.6% at constant currency. This mainly reflected on one hand a good performance at Eutelsat Americas and higher revenues at 16 East (Sub-Saharan Africa and Central Europe) and 7 East (Turkey and East Africa) and on the other, lower revenues at the HOT BIRD position following the non-renewal of contracts with some service providers last year and the impact of contract renegotiations with Russian customers.
New capacity entered into service in October should ramp-up as the year progresses.
At 30 September 2015, the total number of channels broadcast by Eutelsat satellites stood at 5,855, up 1.2% year-on-year. HD penetration continued to increase, representing 12.3% of channels compared to 10.9% a year earlier, or 721 channels, up from 629 a year earlier.
Several recent video contracts have been announced in both mature and fast growing markets:
In Europe, a multi-year agreement for an additional transponder with Arqiva at 28 East to serve the UK DTH (Direct-to-Home) broadcast market, additional capacity taken by Telekom Austria Group and ANTIK Telekom at 16 East for their new Direct-to-Home platform for the Slovak and Czech markets.
In Africa, a multi-year contract with CANAL Overseas at 3 East to broadcast a new package of DTT channels for French-speaking Africa and a multi-year contract at 16 East with United Business Machines EG for a new digital TV platform in Equatorial Guinea.
In Latin America, a multi-year agreement with SpeedCast Servi os Multimedia for Ku-band capacity on the upcoming EUTELSAT 65 West A satellite for professional video services.
DATA SERVICES (16% of revenues)
First quarter revenues for Data Services stood at 58.8 million, almost unchanged year-on-year at constant currency
(-0.3%). Growth was driven by Latin America and the ramp-up of regular capacity on EUTELSAT 3B. Revenues were lower at 53 East as a result of the rationalization of capacity at this position in May 2015.
As in previous quarters, pricing pressure remains strong in EMEA.
Recent contracts include multi-year / multi-transponder agreements signed by Eutelsat Americas across Latin America for capacity with Elara (at 115 and 117 West) and with Axesat (at 113 and 115 West).
VALUE-ADDED SERVICES (8% of revenues)
First quarter revenues for Value-Added Services amounted to 29.7 million, up 12.4% year-on-year.Uptake on KA-SAT continued, with 190,000 broadband terminals activated at 30 September 2015, compared with 166,000 a year earlier and 185,000 as of 30 June 2015.
Maritime mobility also contributed to year-on-year growth.
GOVERNMENT SERVICES (14% of revenues)
First quarter revenues for Government Services stood at 53.0 million versus 44.5 million a year earlier. At constant currency this represented a decline of -0.7%. The quarter saw the early termination of a significant contract with a distributor, with the attendant termination fee recognized in Other revenues', and continued to reflect the effect of
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Paris, 28 October 2015 - Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) today reported revenues for the first quarter ended 30 September 2015.
