Eutelsat’s video revenues fell by 8.3% in the last years as the loss of a contract with Digitürk conspired with sanctions against Russian and Iranian channels.
Video represents 62% of the satellite operator’s revenues. In addition to the loss of Digitürk from mid-November 2022 there were volume reductions with certain resellers. In the wake of the war against Ukraine, Eutelsat faced international calls to suspend Russian broadcasters from its platform.
The Paris-based operator was selected by Orby Elevate for the distribution of its first mainstream English language Direct-to-Home (DTH) services in the United States and upgraded DTH services across the Middle East and North Africa for du, the Emirates Integrated Telecommunications Company.
Fourth Quarter revenues stood at €170 million down by 9.7% year-on-year and broadly stable quarter-on-quarter.
Eva Berneke, Chief Executive Officer of Eutelsat Communications, said: “Fiscal Year 2022-23 has been a very solid year for Eutelsat, with revenues at the top end of our range of expectations, a high level of profitability and robust Free Cash Flow Generation. From a commercial point of view we have seen strong momentum in our Connectivity verticals, confirming our strategy of shifting our business model to address these new applications..”
Eutelsat anticipates it will return to growth in the next financial year, 2023-24, driven by the entry into service of new in-orbit resources. Video revenues are expected to be broadly in line with market trends of a mid-single digit decline.
