The Board of Directors of Eutelsat Communications, chaired by Dominique D’Hinnin, has released the financial results for the Half Year ended 31 December 2022.
- All standalone Full Year 2022-23 and longer-term financial objectives confirmed
- Operating vertical revenues down 4.1% like-for-like; within the range of Full Year objectives
- Industry-leading profitability maintained, with a 73% EBITDA margin
- Successful launch of four satellites in H1, paving the way for return to growth in FY 2023-24
- Positive commercial momentum at OneWeb; combination deal on track for closing in calendar Q2/Q3 2023
Eutelsat delivered a solid First Half, with revenues from our Operating Verticals within the range of our Full Year objectives and industry-leading profitability maintained with a 73% EBITDA margin. This financial performance enables us to confirm our standalone outlook for the Full Year 2022-23, and for the outer years. The start of the year has also seen considerable operational success, with the ongoing strong commercial ramp-up of EUTELSAT QUANTUM, and a record number of four satellite launches, providing both service continuity and incremental capacity which will pave the way for our return to growth in FY 2023-24. Elsewhere, OneWeb continues to deliver positive commercial ramp-up, and the proposed deal to combine our two companies is on track for closing in calendar Q2/Q3 2023. In the long term, our new orbital assets as well as the projected combination with OneWeb will unlock significant potential in markets where the demand for connectivity is booming.Eva Berneke, Chief Executive Officer, Eutelsat Communications