Eutelsat Profits Jump
Eutelsat generated a net profit of 170 million euros ($234.1 million) in its 2007 business year, compared to earnings of 40 million euros ($55.1 million) in 2006, the operator announced July 26. Eutelsat credited the improvement to the absence of a non-recurring net charge in 2006 related to debt and restructuring as well as lower interest charges related to the refinancing of debt.
Eutelsat posted revenues of 829.1 million euros ($1.1 billion) in its 2007 year, which closed June 30, up nearly 5 percent from revenues of 791.1 million euros ($1.1 billion) in 2006. Video applications drove the revenue gain, improving 11.7 percent to 590.4 million euros ($$813 million). Revenues in the data and value added services business and in the multi-usage business declined.
The company also announced that in a July 25 meeting, the board authorized Eutelsat to acquire a Ka-band satellite.