Eutelsat’s mid-year presentation saw CEO Jean-François Fallacher confirm the financial objectives for the full year ahead (Eutelsat’s financial year end is on June 30th). He noted upgrades from both Moody’s and Fitch ratings agencies.

As to the company’s key division, the outstanding highlight was the LEO (OneWeb) activity which rose almost 60 per cent and now represent more than one-third of the company’s Connectivity revenues. Overall revenues were €574 million (down on the previous year’s €599.9 million).

Eutelsat’s Video division fell 12.3 per cent and not helped by the continued sanction problems with Russian customers. There is also the general downward trend in Video usage, but Eutelsat had won or renewed capacity sales for beIN Group and PolSat+.

Fixed Connectivity revenues rose 17.2 per cent, while Government services also showed growth (7.7 per cent).

Eutelsat’s Mobile Connectivity sector grew 8.5 per cent and helped by the installation of almost 600 aircraft out of a backlog of 1,500 aircraft.

The company’s overall contracted backlog stood at €3.4 billion as at December 31st 2025, vs €3.7 billion a year earlier.

Jean-François Fallacher, Chief Executive Officer of Eutelsat Communications commented: “The first half of FY 2025-26 marked a decisive step forward for Eutelsat. We significantly strengthened our financial foundations through the successful execution of our refinancing plan, supported by our shareholders, rating agencies, and institutional partners. At the same time, we secured the long-term operational continuity and technological evolution of our LEO constellation, reinforcing our ability to serve customers with greater performance and flexibility. With financing secured and our growth strategy clearly on track, we are entering the next phase with confidence, focused on unlocking the full potential of our LEO business and delivering sustainable value for all stakeholders.”

Fallacher also talked about the recent decision by France to not permit Eutelsat to sell its Ground Station/Teleport assets. He said the decision was no longer a problem given that the company was now refinanced.

However, he also talked about Direct-to-Device services, and that Eutelsat “was working” on the concepts although there was nothing yet to report.

He also addressed the options for European individual nations and their plans for constellations. Specifically, he said that the amount already invested in OneWeb (including the pre-bankruptcy element) totalled some €7 billion, and that the physical challenge of building a ‘stand alone’ fleet were significant, and then there was ground segment and spectrum acquisition. In his view, it was much easier to join and participate in the SpaceRISE scheme for IRIS2.

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Tags: eutelsat, Jean-Francois Fallacher, OneWeb, spacerise