The old Eutelsat logo, with its merger with OneWeb, and a satellite model
Eutelsat announced on Monday a downward revision of its financial targets for the 2023-24 financial year, as the LEO activities of OneWeb, with which the satellite company finalized its merger in September, fell behind schedule.
The company is now targeting revenue of between €1.25 billion and €1.30 billion, compared to a previous range of €1.35 billion and €1.42 billion.
“The results recorded by OneWeb’s LEO activities show a certain delay compared to the initial schedule”, indicates the group in a press release, adding that this situation is explained by “delays in the deployment of ground infrastructures” and “a distribution of turnover more marked than expected in favor of the marketing of user terminals”.
Eutelsat now forecasts adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of between €650 million and €680 million, below the previously forecast range of €725 million to €825 million. .
(Written by Augustin Turpin, with the contribution of Gaëlle Sheenan, edited by Blandine Hénault)