Eutelsat Communications<\/b> is optimistic for a return to top line growth in the coming fiscal year, despite drop in Video revenues. The company reported 1.13 billion euros ($1.25 billion) in revenue in its 2022-23 fiscal year on July 28, down 1.8% compared to the prior year. <\/p>\n
Revenue in the Video segment fell 8% during the year to 705 million euros ($778 million). Eutelsat said this reflects a non-renewal with Turkish broadcaster Digit\u00fcrk, and the effects of sanctions against Russian and Iranian channels. Video is still the largest portion of group revenues at 62%. <\/p>\n
Government Services and Fixed Connectivity also saw declines in revenue. <\/p>\n
Mobile Connectivity was a bright spot, growing 27% year-over-year to 110 million euros ($121 million), and Eutelsat noted particular momentum in the maritime area. Mobile Connectivity is now 10% of group revenues. <\/p>\n
Contracted backlog fell from 4 billion euros ($4.4 billion) at the end of June 2022 to 3.4 billion euros ($3.8 billion) at the end of June 2023, but video now makes up a smaller portion of backlog at 59% compared to 64% last year. <\/p>\n
Looking to the coming year, Mobile Connectivity and Fixed Connectivity verticals are expected to experience double-digit growth in fiscal year 2023-24 with Eutelsat 10B and Konnect VHTS entering into service, both with firm pre-commitments, and positive commercial traction. <\/p>\n
Eutelsat said Video revenues are expected to be broadly in line with market trends of a mid-single digit decline, in the coming year, excluding the effect of sanctions. <\/p>\n
Eutelsat said the transaction to combine with OneWeb will likely close in late September of this year, and OneWeb has a total backlog around $900 million euros ($993 million), a 50% increase since October 2022. <\/p>\n
\u201cFiscal Year 2022-23 has been a very solid year for Eutelsat, with revenues at the top end of our range of expectations, a high level of profitability and robust free cash flow generation. From a commercial point of view we have seen strong momentum in our Connectivity verticals, confirming our strategy of shifting our business model to address these new applications,\u201d CEO Eva Berneke commented. <\/p>\n","protected":false},"excerpt":{"rendered":"
Eutelsat Communications is optimistic for a return to top line growth in the coming fiscal year, despite drop in Video revenues. The company reported 1.13 billion euros ($1.25 billion) in revenue in its 2022-23 fiscal year on July 28, down 1.8% compared to the prior year. Revenue in the Video segment fell 8% during the […]<\/p>\n","protected":false},"author":1,"featured_media":47376,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-53024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/53024"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=53024"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/53024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/47376"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=53024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=53024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=53024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}