Eutelsat Communications says despite a highly resilient business some of its sectors are feeling the heat in the Coronavirus pandemic.
It’s estimating a reduction in revenues of €20 million.
The Paris-based satellite operator says with long-term contracts of €4.3 billion – equivalent to 3.3 years of revenue – the impact FY 2019-20 revenues will be limited.
However, while its core broadcast business is holding up, Occasional Use has taken a hit from the postponement of sports event and Mobile Connectivity is down because of the impact of the pandemic on airline and maritime traffic.
The company says that while revenues at the end of February were inline with expectations, it’s anticipating the slowdown to be felt in the third and fourth quarters of the current financial year.
It’s also being impacted by the operations of other players in our supply chain, notably satellite manufacturers, launchers, and gateway installers. It means the launch of Eutelsat Quantum, slated for the fourth quarter of 2020 is likely to be delayed, while the deployment of ground gateways supporting the operations of Eutelsat Konnect is also likely to be partially delayed.
