Eutelsat Communications Q3 2022

Note – Eutelsat’s fiscal calendar diverges from the standard calendar. 

In Q3 2022, operator Eutelsat reported:

• Operating vertical revenues of 284.7 million euros ($296 million), down about 3% compared to the same time last year.
• Eutelsat’s nine-month operating verticals total revenue of 853 million euros ($888 million) is down 4% YoY, but in line with the company’s expectations.
• Fixed Broadband reported 17 million euros ($17.7 million) in Q3, up 30% from the same time last year.
• Broadcast, Eutelsat’s largest segment, reported 172.5 million euros ($180 million) in revenue in Q3, down about 6.8% compared to the same time last year, due to a partial capacity renewal with Nilesat and a slight erosion in the underlying business in Europe.
• Data & Professional Video segment reported 40 million euro ($42 million) in revenue, down about 3% compared to the same time last year.
• Government Services revenue was 35 million euro ($26.4 million) in Q3, down 11% from the previous year. This reflected a negative carry-forward effect of U.S. government renewals, driven by the withdrawal of troops from Afghanistan.
• Mobile Connectivity, with 21 million euros ($22 million) in revenue, was up 25% from the same time last year, due to the carry-forward effect of the Anuvu contract signed last year, and growth in Maritime
• The operator confirmed full year guidance of revenue between 1.11 billion euros and 1.13 billion euros ($1.16 billion t0 $1.18 billion).
• Impact of war in Ukraine: The operator derived about 6.3% of its revenues from Russian customers in fiscal year 2020-21 and has no material revenue exposure to Ukraine.
• Eutelsat is under the leadership of a new CEO, Eva Berneke.