Eutelsat Communications has reported that its revenues fell 5.2 percent to €272 million for the third quarter ended 31 March 2023.
Eutelsat Communications has generated revenue of €156.5 million (–10.6 percent) from Broadcast, €38.4 million (–7.3 percent) from Data & Professional Video, €31.4 million (–13.4 percent) from Government Services, €18.5 million (+7.3 percent) from Fixed Broadband and €26.9 million (+23 percent) from Mobile Connectivity during January-March 2023.
Eutelsat’s Broadcast revenues, which represented 58 percent of revenues, fell due the non-renewal of the Digiturk contract, as well as lower revenues in Europe. Sanctions against certain Russian and Iranian channels impacted the revenue for second half of FY 2022-23.
Eutelsat was selected by certain Latin American customers for broadcast services in Mexico and Brazil, leveraging the coverage of the EUTELSAT 65A, 117WA and 117WB satellites over the region. Revenues in the fourth quarter are expected to slightly decrease compared to the third quarter on the back of lower volumes in Europe.
Eutelsat signed a partnership with POULSAT to provide schools in North Africa with high-speed internet connectivity thanks to Eutelsat ADVANCE solutions. POULSAT’s digital classroom project, supported by The World Bank Group, will connect over 100 schools in the next three years.
Eutelsat said the backlog stood at €3.5 billion as of 31 March 2023 versus €4 billion a year ago, and €3.7 billion at end-December 2022, reflecting its erosion in the absence of major broadcast renewals this quarter. Eutelsat’s backlog was equivalent to 3.1 times 2021-22 revenues, with Broadcast representing 58 percent.
Eutelsat said it will have Capex of not exceeding €400 million per annum for each of the next two fiscal years (FY 2022-23 / FY 2023-24).