Eutelsat Communications reports revenues for the First Quarter ended 30 September 2020.
Rodolphe Belmer, Chief Executive Officer of Eutelsat Communications, said: “Eutelsat has made a solid start to the year, with Operating Verticals revenues in line with expectations and a backlog of €4.4bn, up 3% year-on-year. Highlights of the First Quarter include the renewal of the Sky Italia contract at HOTBIRD, confirming the ongoing relevance of satellite in Western Europe, and significant steps in our Fixed Broadband strategy with the acquisition of Bigblu Broadband Europe ahead of the imminent entry into service of EUTELSAT KONNECT.
This performance demonstrates the general resilience of our business to the current environment. Although the rate of new business in certain verticals, in particular in Broadcast, is slower than usual against the general operating backdrop, we have nevertheless produced a solid commercial outturn securing several new contracts and renewals on favourable terms. Based on this performance we confirm our financial objectives for the current year and subsequent year.”
Total revenues down 0.7% and Operating Verticals revenues down 1.9% year-on-year highlighting the general resilience of our activity in the Covid context;
Confirmed solidity of Broadcast in the First Quarter:
Sky renewal confirming the ongoing relevance of satellite broadcast in Western Europe
Extension of contract durations with Tricolor TV in Russia and Azam TV in Sub-Saharan Africa, new wins with BluTV and Kabelio
Slowdown in the pace of new business against current operating backdrop;
Significant steps in our Fixed Broadband strategy:
Imminent entry into service of EUTELSAT KONNECT
Wholesale agreement with Orange for the entire French capacity on the satellite
Integral retail pillar added with acquisition of Europe’s leading satellite broadband distributor, Bigblu Broadband Europe;