Eutelsat reports results for the period ended 31 March 2024

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

Video (53% of revenues)

Third Quarter Video revenues amounted to €160.2 million, down 4.9% year-on-year, in line with the broader market trend following wash-through of the base effect of last year’s non-renewal of the Digitürk contract and Russian sanctions. On a quarter-on-quarter basis revenues were down 3.9% reflecting the non-recurrence of a one-off c.€3 million contract in Q2.

On the commercial front, Eutelsat secured several new contracts in emerging broadcast regions, highlighting the ongoing relevance of satellite in these markets, where sustained demand is partially mitigating the decline in Europe. They included notably new business on the EUTELSAT 117 West A satellite which was selected by StarTV for the deployment of StarFlix, its new video streaming service, and by Instituto Nacional de Radio y Televisión del Perú which signed a multi-year capacity agreement for large-scale content distribution to homes and IP devices across the country.

Eutelsat also inked new business at its 7/8° West orbital position with Télédiffusion d’Algérie which increased capacity on the EUTELSAT 7 West A satellite to consolidate its TV and radio channels on the country’s leading video neighbourhood. Finally, iKO Media Group is leveraging capacity at the 16° East, 13° East, and 7/8° West orbital positions to bring its new eSports TV package, eCLUTCH, to screens across Europe, the Middle East and Africa.

On the operational front, Eutelsat celebrated the successful launch and deployment of its EUTELSAT 36D satellite, set to replace EUTELSAT 36B, at the 36° East orbital position, assuring service continuity with optimised performance for customers over its footprint.