Eutelsat’s GEO and LEO businesses proved to be the success stories in the first half of the financial year.
The Paris-based operator has been talking up the prospects of its GEO operations that have contributed to the return to top line growth, driven by the availability of EUTELSAT 10B and KONNECT VHTS.
The LEO activities of One Web are also progressing, though delays in the availability of the ground network have impacted revenues, and the mix leaning towards the sale of user terminals affecting margins.
“We nevertheless remain confident in the prospects of OneWeb, and the potential of Eutelsat Group’s unique combined GEO-LEO offer and anticipate an acceleration in revenues in the coming months as the constellation achieves full global operational coverage of the ground network,” said Eva Berneke, Chief Executive Officer, Eutelsat Communications.
Total revenues for the first half of FY 2023-24 stood at €572.6 million, down by 0.2%.
First Half Video revenues were down by 8.0% to €331.1 million recording the impact of a non-renewal of capacity by Digitürk and the the effect of sanctions against some Russian and Iranian channels.
