A strong momentum for video applications has led to a growth in revenues of 4.8% at the satellite operator Eutelsat Communications for the year ending June 30, 2007. Consolidated net income rocketed to €170 million from €40m just a year earlier.
Chairman and chief executive officer Giuliano Berretta said the results demonstrated the effectiveness of a strategy that combined the development of in-orbit resources with a positioning within the most profitable applications in the fixed satellite services sector. “As a result of the priority allocation of additional resources to Video Applications in order to support the strong dynamic of digital broadcasting, we have been able to increase the share of video in our business portfolio to over 72%, thereby reinforcing strong visibility on revenues.” Eutelsat is in the process of opening up a new satellite slot at 9 degrees East that will be combined with the existing Hot Bird satellite neighbourhood at 13 degrees East.
Berretta said that the growth of high definition and mobile TV services would enable Eutelsat to reach a 2007/08 revenue target of between €840m and €850m.