The company's Q1 fixed connectivity revenues stood at 57m, up 30.1% year-on-year, reflecting the acceleration in its LEO services which were driven by the Neom contract.
Eutelsat Communications has reported its revenues for the First Quarter ended 30 September 2024. The company’s total revenues for the First Quarter stood at 300m, up 9.4% on a reported basis, and by 5.9% like-for-like.
Revenues of the four operating verticals, namely, video, government services, mobile connectivity and fixed connectivity (excluding other revenues) stood at 297m. They were up 5.5% on a like-for-like basis excluding a negative currency effect of 1m. Quarter-on-quarter, revenues of the four Operating Verticals were down by 11.9% like-for-like.
Fixed connectivity saw the greatest growth in the first quarter, growing revenue 30% year-over-year to 56.5m. Fixed Connectivity made up 19% of company revenue. This growth was driven by OneWebs Low-Earth Orbit (LEO) service, particularly from the joint venture with Neom. Growth also included the impact from the entry into service of the Konnect VHTS satellite.
Mobile connectivity also grew, with revenue in this segment touching 42m, up 19% year-over-year. Mobile connectivity accounted for 14% of company revenue. Eutelsat reported growth in LEO-based connectivity solutions, as well as GEO solid performances, particularly in aviation.
Government services grew as well, up 20% year-over-year to 46.4m. This segment made up 16% of revenue. Video still accounts for more than half of the companys revenue at 152m and 51% of revenue, Although, the 2024 Olympic Games gave the segment a small boost in revenue, the segment continued to decline, down 7% year-over-year during the quarter.
