The results follow the formal completion of the Eutelsat and OneWeb combination in September 2023. By pairing geostationary high-throughput satellites with the OneWeb LEO constellation, Eutelsat has positioned itself as a multi-orbit operator competing directly against non-geostationary broadband providers including Starlink and Project Kuiper. While traditional GEO broadcast services face pressure from video cord-cutting, the LEO segment has delivered consistent double-digit quarterly revenue growth.
The €297 million figure was driven by commercial adoption across several markets as global LEO coverage reached full operational maturity. In-flight connectivity expanded through deployment of dual-beam LEO/GEO terminals across commercial airline fleets. Maritime broadband grew across cruise liners, commercial shipping fleets, and offshore energy platforms. Government and defense adoption rose among NATO members and national defense authorities seeking secure, jam-resistant orbital backhaul, and enterprise land mobility grew through cellular backhaul agreements with mobile network operators extending 4G and 5G coverage into rural regions. The growth was supported by wholesale distribution agreements with global telecommunications carriers, system integrators, and mobility providers.
“The strong performance of OneWeb’s LEO constellation demonstrates that our multi-orbit strategy is delivering tangible commercial results,” said Eva Berneke, Chief Executive Officer of Eutelsat Group. “Reaching nearly 70 percent annual growth and establishing LEO services as a quarter of our total revenue base proves the growing demand for low-latency, high-throughput connectivity across government, aviation, and maritime sectors. We remain focused on expanding our commercial footprint while maintaining strict financial discipline as we build out our next-generation constellation capabilities.”
The company’s ability to blend low-latency LEO capacity with wide-beam GEO coverage allows it to offer guaranteed service level agreements tailored to mission-critical enterprise customers. Eutelsat frames the result as evidence of its position as a leading European sovereign multi-orbit telecommunications provider, funding LEO network optimization with cash flow from its heritage GEO broadcasting fleet.
Eutelsat expects the proportion of revenue generated by LEO operations to increase further in fiscal year 2027 as additional ground gateways come online and user terminal manufacturing scales. The company continues to advance procurement plans for its second-generation OneWeb constellation, OneWeb Gen 2, designed to deliver enhanced capacity, higher spectral efficiency, and direct integration with 3GPP Non-Terrestrial Network standards.
