Two new satellite launches have increased Eutelsat’s backlog by a record 9.6% amid increased demand for services.
The Paris-based operator grew revenues by 4.6% to €602.4 million in half year results to the end of December.
CEO Michel de Rosen said the successful launches meant the operator had anchored its position on the Middle East, Africa, Central Europe and the Indian Ocean Islands and remained on track to deliver annual revenues of over €1,235 million in the current financial year. “This objective is however more challenging in view of the current competitive environment in some regions and a partial delay in the rollout of KA-SAT services”.
Eutelsat’s refinancing resulted in a 10.1% dip in net income to €156.8 million, as a result of costs connected with the December transaction. Based on the sound financial performance of Eutelsat Communications, Moody’s upgraded its ratings on 20 October 2011.
Video Applications recorded growth of 2.9% to €403.3 million as the two new satellites pushed revenues up by 3.5% between the two quarters. At 7 degrees West wide beam coverage was extended across the Middle East and North Africa by the arrival of Atlantic Bird 7. Meanwhile the 16 degrees East video neighbourhood was strengthened by the entry into service of W3C.
At 31 December 2011, Eutelsat’s fleet was transmitting a total of 4,173 channels, up 391, from 3,782 the year before. Over 90% of TV channel growth came from fast growing markets, including North Africa, the Middle East, Central and Eastern Europe; Russia and Africa.