Eutelsat has reported revenues of €300 million for Q1 FY 2024-25, up by 9.4 percent on a reported basis and 5.9 percent on a like-for-like basis.
Video revenues, which represent 51 percent of total revenue, reached €152 million, down 7.3 percent. Key contract renewals included agreements with Al-Jazeera in the Middle East, Cable Color in Latin America, and a new partnership with TVPlus for coverage in Australia and New Zealand.
Fixed Connectivity revenues, which account for 19 percent of total revenue, increased by 30.1 percent to €57 million, mainly driven by growth in low Earth orbit (LEO) services like the NEOM contract. Notable deals included partnerships with Bayobab for connectivity across Africa and SoftBank for services in Japan.
Government Services revenues, which represent 16 percent of total revenue, rose 20.3 percent to €46 million, driven by LEO-enabled solutions. Eutelsat achieved an 80 percent renewal rate with the U.S. Department of Defense in Fall 2024.
Mobile Connectivity revenues, which accounts for 14 percent of total revenue, reached €42 million, up 18.8 percent, reflecting growth in LEO solutions and strong GEO performance, especially in aviation. Eutelsat’s OneWeb LEO network was integrated into Inmarsat Maritime’s NexusWave solution.
Eutelsat said backlog stood at €3.9 billion, equivalent to 3.2 times FY 2023-24 revenues. Eutelsat targets a gross capital expenditure of €700-800 million for FY 2024-25.
