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Eutelsat lowers FY revenue outlook, as underlying revenues contract 4% in fiscal Q3

Wednesday 15 May 2019 | 10:49 CET | News
Satellite operator Eutelsat has adjusted its revenue objective and now expects full-year revenues at its five operating verticals to decline by around 3 percent. The company had already lowered this target in October, when it revised the growth outlook from positive to "broadly stable" compared with FY 2017-18. This new adjustment was motivated by lower-than-expected progress at its Video and Fixed Broadband divisions, as well as tougher conditions in Professional Video and Fixed Data.

The company confirmed the other financial objectives for the current and following years, noting that a return to slight revenue growth was still expected for FY 2019-20. It also said that it was working to secure significant savings on its annual tax burden, which should amount to a reduction of EUR 70 million.

The operator's five operating verticals continued to experience negative revenue growth in the quarter that ended in March (Q3 2018-2019), with a combined 4.0 percent drop at constant currency and perimeter (-3.0% in Q2 2018-2019). On a reported basis, revenues at the operating verticals fell 1 percent to EUR 325 million. Other revenues brought the total to EUR 337 million, up 0.7 percent year-on-year.

Eutelsat's core Video division saw revenues decline 2.5 percent on a like-for-like basis to EUR 215 million. The broadcast business was described as stable, while Professional Video suffered a double-digit drop, said the company. Mobile Connectivity was the only division to post positive growth (+4.7%). Performance at the Fixed Data and Fixed Broadband divisions remained in negative territory (-17.8% and -9.7% respectively), with a slight contraction also in Government Services (-1%).



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Categories: Broadcast & Satellite
Companies: Eutelsat
Countries: World
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