Eutelsat’s third quarter revenues ending March 31 amounted to €364.3 million and were 4.2% down at constant currency and perimeter.
On a reported basis, they were down by 4.9%. Third quarter video applications, which accounted for 64% of revenues, were, at €228.1 million, 4.1% down year-on-year. Those from broadcast were down 3.5% year-on-year, impacted by the rationalisation of capacity at the Hotbird position and lower revenues from Fransat.
As of March 31, the total number of channels broadcast by Eutelsat satellites stood at 6,356, up 3.2% year-on-year. HD penetration continued to rise, representing 16.6% of channels compared to 13.1% a year earlier, or 1,057 channels, up from 807 (+31%) a year earlier.
“Commenting on the results, Rodolphe Belmer, CEO, said: “Revenues for the third quarter were in line with our expectations, with a solid underlying performance in Broadcast. In consequence we affirm our revenue target for the full year with an outturn around the middle of our range of objectives.
“During the quarter, we have made solid commercial progress, with an outcome of the Department of Defense Spring renewal campaign in line with expectations as well as the sale of new and renewal capacity at a number of our Video neighbourhoods. We have continued to maximise capex efficiencies notably with the agreement to host the Egnos navigation system payload on Eutelsat 5 West B and the contract with Blue Origin to further diversify our options for access to space. We have made significant headway on our strategic roadmap, with the closure of the first phase of the ViaSat partnership agreement. These elements enable us to look the medium term return to growth with confidence.”
