Eutelsat’s OneWeb division saw its revenues grow by more than 84 per cent (€187 million) and now represent about 15 per cent of overall revenue. The numbers emerged as Eutelsat reported its end-of-year results.

Total revenues for FY 2024-25 stood at €1.244 billion, up by 2.5 per cent on a reported basis and by 1.6 per cent like-for-like. Revenues of the four Operating Verticals (excluding ‘Other Revenues’) stood at €1.226 billion, up by 0.8 per cent on a like-for-like basis.

Jean-François Fallacher, CEO of Eutelsat, commented: “FY 2024-25 results were in line with our objectives, and the year was marked by genuine traction in our LEO revenues, which grew by over 80 per cent and now represent 15 per cent of revenues. I am excited to take the helm of Eutelsat as it enters a new chapter, centred on the deployment of LEO, a revolution for the Satellite industry. Thanks to its differentiated GEO-LEO positioning and global coverage, Eutelsat is positioned to be a key player in the development of the European sovereign space of tomorrow and beyond, as showcased by the framework agreement with the French military. Finally, the recently announced €1.5 billion capital increase will give Eutelsat the requisite financing to implement its strategic roadmap, enabling us to deliver growth and value for all our stakeholders.”

The results showed the continued decline in revenue from its Video division which is largely made up of DTH services for broadcasters. Full Year Video revenues came in at €608.2 million (down 6.5 per cent y-o-y). The fall during Q4 was larger at 7.5 per cent compared with the same period a year ago. Video remains 50 per cent of Eutelsat’s overall revenues.

However, Government Services were a star performer with revenue of €211 million, and an improvement of 27.6 per cent y-o-y. Eutelsat’s Q4 Government Services revenue grew 40.09 per cent compared with the same period a year ago.

“Eutelsat’s leading video hotspots nevertheless continue to attract broadcasters, notably HOTBIRD video neighbourhood at 13° East, which saw the renewal of a capacity agreement with longstanding customer, SSR SRG (Swiss broadcasting corporation), renewed a deal, while wedotv, the global ad-supported streaming TV network, signed a new deal to add free-to-air streaming channels on the HOTBIRD satellites,” said the company. “As recently announced, Eutelsat has removed several more Russian channels from its fleet, in compliance with the latest directives of its national regulator, ARCOM. The impact on revenues of the  removal of these channels is estimated at c.€16 million and a similar amount at the EBITDA level in FY 2025-26.”

Eutelsat’s backlog is down at €3.5 billion (€3.9 billion a year ago).

In FY 2025-266, LEO revenues are expected to grow by 50 per cent year-on-year. “This dynamic growth will compensate, but not yet outweigh the decline in GEO revenues, which are notably impacted by additional Russian sanctions in the Video Business,” said Eutelsat.

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Categories: Articles, Broadband, Broadcast, Business, DTH/Satellite, Results, Satellite

Tags: eutelsat, LEO, OneWeb