PARIS (Agefi-Dow Jones)–Satellite operator Eutelsat on Thursday published lower revenue for the third quarter of its staggered financial year, its five operational activities having fallen by 3.5% on a comparable.
During the quarter ended at the end of March, revenue from operating activities amounted to 285 million euros, down 3.3% compared to the same period of the previous financial year. At constant scope and exchange rates, revenue from these activities fell by 3.5%.
Total revenue for its part came to 286.8 million euros, down 4.8% as reported and 2.7% on a comparable basis. According to the FactSet consensus, analysts on average expected a turnover of 282 million euros in the third quarter.
“As of March 31, 2022, the order book stood at 4 billion euros, compared to 4.5 billion euros a year earlier and 4.2 billion euros as of December 31, 2021, reflecting its natural consumption in the absence of major renewals in the Broadcast business this quarter,” Eutelsat said in a statement.
“Given the performance of the first nine months of the year, we confirm our objective of turnover from operating activities for the current financial year, of between 1.11 and 1.13 billion euros, has added the group.
The group is still targeting for the current financial year an adjusted discretionary free cash flow of between 400 million and 430 million euros at an exchange rate of 1.20 dollars for one euro. Eutelsat also confirmed its dividend policy, i.e. a “stable or progressive” dividend.
These objectives “assume that there is no significant deterioration in the revenues generated by Russian customers”, underlined Eutelsat.
-Eric Chalmet, Agefi-Dow Jones; +33 (0)1 41 27 47 95; [email protected] ed: LBO
EUTELSAT FINANCIAL RELEASES:
https://www.eutelsat.com/en/investors/financial-information
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May 12, 2022 12:21 ET (16:21 GMT)