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Telesat reports lower Q1, hit by forex effects and customer headwinds

Thursday 30 April 2020 | 16:41 CET | News
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Revenues for Q1 reached CAD 209 million, down 6 percent year-on-year and off 5 percent excluding forex effects while operating expenses increased to CAD 45 million. The net result sank to a loss of CAD 278 million from a gain of 172 million, pulled down by non-cash exchange losses arising from the translation of Telesat US denominated debt into Canadian dollars, as compared to the year before. Adjusted EBITDA decreased by 11 percent to CAD 166 million, with the margin falling to 79.6 percent from 84.2 percent. Contracted backlog for future services at end March amounted to CAD 3.2 billion.

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Categories: Broadcast & Satellite
Companies: Telesat
Countries: Canada
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