- Third Quarter Operating Verticals revenues down 1.6% year-on-year; up 1.2% quarter-on-quarter
- Broadcast showing resilience, with return to slight growth quarter-on-quarter
- Backlog of €4.2bn representing 3.2 years of revenues
- Updated financial objectives confirmed
Paris, 14 May 2020 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) today reported revenues for the Third Quarter and Nine Months ended 31 March 2020
Rodolphe Belmer, Chief Executive Officer, commented: “Third Quarter revenues were in line with our expectations, and confirmed the underlying improvement in Operating Verticals trends. In particular, Broadcast was highly resilient with stable revenues year-on-year and return to quarter-on-quarter growth with ongoing signs of commercial dynamism in emerging markets with a new DTH platform in Sub-Saharan Africa and the extension of a contract in the Balkans. Other commercial highlights include a solid Spring Renewal campaign with the US Government, a multi-year contract with Telenor Maritime in Mobile Connectivity, and for Konnect Africa, a MoU to connect several thousand schools across the Democratic Republic of Congo.
“Faced with the unprecedented constraints of the Covid-19 crisis, our focus is on the health and well-being of our employees and ensuring business continuity for our customers at a time when demand for reliable connectivity has never been higher. Our business is resilient compared with many industries, in particular our core Broadcast vertical. As a result, we expect the impact on Full Year revenues to be limited, reflecting mainly the effects of confinement on Mobility, Professional Video and to a lesser extent Fixed Broadband. As we continue to assess the effects on future years, we do so with the confidence that our strong financial position and cash-flow generation capacity, together with our combination of resilient heritage activities and connectivity-related growth opportunities will ensure we are well positioned to withstand challenges of the current environment.”
1 Change at constant currency and perimeter. The variation is calculated as follows: Q3 2019-20 USD revenues are converted at Q3 2018-19 rates.
2 Other revenues include mainly compensation paid on the settlement of business-related litigations, the impact of EUR/USD revenue currency hedging, the provision of various services or consulting/engineering fees and termination fees.
About Eutelsat Communications
Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Around 7,000 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,000 men and women from 46 countries who are dedicated to delivering the highest quality of service.
Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).
For more about Eutelsat go to www.eutelsat.com
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