Eutelsat Group reports revenues for full year 2023-24 📝
📊 All FY 2023-24 objectives attained:
- Operating verticals revenues of €1,268 million,
- Adjusted EBITDA of €698 million
(Pro-forma at constant currency and perimeter)
🤝 Eutelsat / OneWeb combination closed end-September 2023 creating the first GEO/LEO player
⚡ Growth in Connectivity thanks to EUTELSAT 10B and KONNECT VHTS incremental capacity, as well as LEO ramp-up
📈 Backlog grows to €3.9 billion, with well over half from Connectivity
🚀 Entry into service of KONNECT VHTS and EUTELSAT 10B, and launch of EUTELSAT 36D
🛰️ Completion of space-segment of Eutelsat OneWeb constellation
Commenting, Eva Berneke, CEO of Eutelsat Group said:
“Eutelsat Group delivered on its FY 2023-24 objectives, thanks to a robust performance from incremental GEO capacity and the contribution of our LEO business. This has been an important year in the history of Eutelsat with the closing of its combination with OneWeb to form Eutelsat Group, the world’s first LEO-GEO satellite operator, representing a major step-up in our telecom pivot. While the operational roll-out of the OneWeb service has been more challenging than anticipated, we are now on track in terms of target coverage, and we expect to see continued growth from OneWeb in FY 2024-25.
"At the same time, the competitive landscape around us is evolving, representing both opportunities and challenges for our Group. In this context, we are adopting a progressive approach to the Next Generation of the OneWeb constellation. We remain confident in our ability to grow connectivity revenues in LEO, whilst maintaining market share in GEO. As we continue to develop our unique LEO-GEO offer, our core focus will remain on preserving financial robustness and generating value for our stakeholders.”
You can find more detail on our results on our website via the link in the comments, below ⬇️