Eutelsat’s poor Q1 trading numbers announced after the close of the market on October 30th and a downward revision to its expected revenues over the next nine months resulted in a severe fall in its stock market share price in early trading October 31st.

Eutelsat’s share price tumbled 11.83 per cent (€2.19) to €16.29 (and at one point €16.13) as the shares fell off a cliff as the Paris Bourse opened.

CEO Rodolphe Belmer told analysts: “Despite our expectation that the revenues profile for the current year will be back-end loaded, the outturn of Q1 is slightly below our expectations, notably due to worsening trends in Data & Professional Video and the unplanned return of a couple of transponders in Russia. On the other hand, the coming quarters will benefit from easing comps in Government Services and Data & Professional Video, the contribution of new capacity and the ramp-up of African Broadband”.

The market  now feels that Eutelsat will be lucky to finish its trading year next June with extremely modest growth, if at all.

Other posts by :

1. D2D satellite battle hots up
2. Eutelsat share price rockets
3. AST SpaceMobile recovers after Verizon agreement
4. Bank has mixed messages for AST SpaceMobile
5. EchoStar clears key regulatory hurdles for Starlink deal
6. Starlinks falling to Earth every day
7. 650 Starlink D2C craft in orbit
8. Bank upgrades SES to ‘Buy’
9. Eutelsat shareholders reach agreement at AGM

Categories: Blogs, Broadband, Broadcast, Business, Inside Satellite, Results, Satellite, Services