The lights are green for the Eutelsat group

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The French satellite telecommunications operator has published its 2022-2023 annual results. It appears that turnover from operational activities is higher than forecast.

Growth expected next year

On July 28, the group Eutelsat released its financial results for the 2022-2023 fiscal year, which closed on June 30.

On this occasion, the French satellite telecommunications operator announced that it had achieved all of its financial objectives: turnover from operational activities amounted to €1.157 billion, i.e. at the top of Within the range of annual forecasts, profitability is high, and strong free cash flow generation was recorded (€518 million).

The net profit attributable to the group amounted to €315 million against €231 million last year, an increase of 36%, which represents a net margin of 28%.

These good results allow Eutelsat to continue to hope to return to growth in its turnover from the 2023-2024 financial year.

“On the commercial front, we have observed very good momentum in our connectivity activities, which confirms the relevance of our strategy of refocusing our business model on these new applications,” commented Eva Berneke, Group Chief Executive Officer since January 2022. From an operational point of view, Eutelsat has proven itself in terms of its technological capabilities by ensuring a record number of satellite launches and entry into service. »

Following these announcements, the title fell by 1% on the Paris Stock Exchange.

Two meetings in September

The group, which for a year has been planning to merge with the Indo-British operator OneWebalso specified that the General Meeting which must approve the merger will be held by the end of next September.

In the meantime, Eutelsat confirms that OneWeb has experienced a similar commercial dynamic since October 2022, with an order book up 50% (from $600 million to $900 million).

Furthermore, on the eve of the 26th World Satellite Business Week (WSBW) inEuroconsult which will be held in Paris from September 11 to 15, an interview with Eva Berneke will be published in n°2841 ofAirlines and Destinationsto be published on September 7.

John Walker Avatar