Eutelsat revenues edge up 3.4%
November 4, 2011
By Chris Forrester
Eutelsat’s Q1 revenues were up 3.4 per cent to just shy of €300 million, and it is now saying that it is likely to see accelerated top-line growth in the second half of the year, and is confirming its guidance that this year’s outlook is positive, and that looking forward three years it is confirming its quite aggressive targets.
These are highly positive statements, and are helped by extremely robust growth on Eutelsat’s ‘Multi-usage’ revenues which rocketed during Q1 from €28.8 million to €36.2 million (up 26 per cent). Video growth was more modest at 1.4 per cent, and not helped by a lack of capacity.
Growth will be helped by new capacity now coming on stream (Atlantic Bird 7 and W3C) and which will kick in their revenues during this current quarter. “The availability of these replacement and expansion resources, and a further five satellites to be launched between now and June 2014, will enable us to meet continued solid underlying demand in our markets,” said CEO Michel de Rosen. “We therefore confirm our revenue target for the current year of above €1,235 million, and of above seven per cent CAGR for the 2011-2014 outlook period accompanied by an EBITDA margin of above 77 per cent.”
Eutelsat’s shares immediately responded to this good news, rising 1.5 per cent to €30.51 a share.