Eutelsat raises revenue expectations on strong results

Satellite operator Eutelsat has revised its revenue expectations upwards following strong third quarter results.

The company increased revenues by 10% to €295.2 million in the quarter ending March 31, with strong growth reported in all areas, including double-digital increases for its Data and Value Added Services, and multi-usage divisions.

Revenue from Eutelsat’s core video applications business increased 4.7% to €198.5 million. At the end of March, Eutelsat’s satellite carried 3,835 channels, up from 3,539 a year earlier, an increase of 8.4%. The number of HD channels broadcast by the fleet stood at 210, up from 120.

Data and Value Added Services increased revenues by 13.3% to €58.9, with multi-usage revenue up 29.9% to €32.6 million.

Michel de Rosen, CEO of Eutelsat, said: “We are delighted to report third quarter revenue growth of 10%. This growth was driven by further strong momentum in all our markets; an exceptionally strong contribution from our multi-usage activity as demand from government agencies was high; and by the continued optimization of our in-orbit resources, with the fill rate standing at above 90% since 31 December 2010.”

The company has raised its objective for the full year and now expects to deliver revenues of €1.16 billion. “Looking ahead, demand remains string in all of our regions and our significant fleet expansion plan in the coming years will ensure that we are well-positioned to capture this growth,” said Rosen.