The combined Eutelsat/OneWeb entity is forecast to have revenues of around €2 billion and EBITDA of €1.4 billion in FY 2027.
The figures were provided by Eutelsat in a strategy update on its proposed merger with OneWeb, which was announced in July this year.
The parties see the combination as “the logical next step” in their growing combination since Eutelsat’s initial investment in OneWeb in April 2021.
Eva Berneke, CEO of Eutelsat, and Neil Masterson, CEO of OneWeb, said: “The proposed combination between Eutelsat and OneWeb represents a decisive leap forward for satellite connectivity. Eutelsat’s initial investment in OneWeb was underpinned by a strong belief that the future growth in connectivity will be driven by both GEO and LEO capacity. This belief has intensified as Eutelsat and OneWeb’s relationship has deepened, and we are confident that moving to the next level, with a full combination, will ensure the potential of the GEO/LEO integration is fully realised, underpinned by compelling financial, strategic, and industrial logic. This ground-breaking combination will create a powerful global player with the financial strength and technical expertise to accelerate both OneWeb’s commercial deployment, and Eutelsat’s pivot to connectivity”.
Separately, Eutelsat has reported broadcast revenues of €170.1 million for Q1 2021-22, a 7.4% like-for-like reduction on the same period last year. Its total operating verticals revenues amounted to €290.5 million (-4.3% lfl) and total revenues €287.4 million (-4.5%).
Broadcast accounted for 59% of the company’s revenues and reflected mostly the carry-forward effect of the partial renewal of capacity with Nilesat at7/8 degrees West in October 2021.
Excluding this impact, they were down in low single digits.
