Eutelsat Group (EUTLF) Q3 2024 Sales/ Trading Statement Call

Eutelsat Group (OTCPK:EUTLF) Q3 2024 Sales/ Trading Statement Call May 14, 2024 12:30 PM ET

Company Participants

Christophe Caudrelier – CFO
Joanna Darlington – Head of Communication and IR

Conference Call Participants

Aleksander Peterc – Bernstein
Roshan Ranjit – Deutsche Bank
Stephane Beyazian – ODDO BHF
Bruno Read-Cutting – PGIM
Terence Tsui – Morgan Stanley
Aleksander Peterc – Bernstein


Hello, and welcome to the Eutelsat’s Third Quarter and Nine Months 2023-’24 Revenues. My name is George. I’ll be your coordinator for today’s event. [Operator Instructions]

I’d now like to turn the call over to your host today, Mr. Christophe Caudrelier, CFO to begin today’s conference. Please go ahead, sir.

Christophe Caudrelier

Good afternoon to everyone. Welcome and thank you for joining us today for Eutelsat’s third quarter 2024 revenues presentation. I am Christophe Caudrelier, I’m the Group Chief Financial Officer, and I’m joined by Joanna Darlington, Head of Communication and Investor Relations.

On today’s agenda, we will cover first the highlights of the third quarter, then Q3 performance, and finally, we will have a look at the outlook and financial objectives.

Let’s start with the highlights of the past quarter. Third quarter on nine months revenues were in line with expectations. Video was in line with the overall market trend of mid-single-digit decline. Now, the base effect of the nonrenewal of the digital contract and Russian sanctions was washed through as of the third quarter. Connectivity applications continue to see double-digit growth, up 22% in Government Services, plus 48% in Mobile Connectivity, and 24% in Fixed Connectivity, driven by incremental GEO capacity and LEO. With all this, we confirm all our full-year 2023-2024 financial objectives.

On the operational front, we saw the successful launch of the EUTELSAT 36D satellite, assuring service continuity for customers on EUTELSAT 36B, and in LEO, the rollout of

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