The European Communication Satellite operator, an American Spacex competitor and its Starlink satellites, digging its net loss during its financial year 2024/2025, at 1,100 million euros, according to a statement published on Tuesday, August 5.
After having shown a net loss of 309.9 million euros a year earlier, the group suffered a significant depreciation, particularly up to 535 million euros for its geostationary satellites, as announced in the first half.
The second global satellite operator, which saw its income by 2.5% to 1.2 billion euros increased, emphasized in its press release also recorded another depreciation for its satellites in the second semester, of 186 million euros.
Profitability
If video activities have been a 6.5% drop in turnover, at 608.2 million euros, “reflecting the expiration” of the market, connectivity services experienced a 10.6% growth, at 618.1 million euros, which hides a great disparity between the two types of exploited satellites.
In the low orbit segment (Leo), an activity comparable to that of Spacex, the company has seen its practically double income (+99%), 186.8 million euros. For geostationary satellites, however, they lost 7.2%, to 431.3 million euros. The group has also seen its profitability to withdraw, with a margin of Ebidta adjusted in withdrawal of 4.9 points, with 54.4%.
In June, he also announced a capital increase of 1.35 billion euros. The French State, which already had 13% of the company, had indicated that it wanted to increase its participation by 717 million euros and become its first shareholder. President Emmanuel Macron described this operation as a “strategic problem.”
At the beginning of July, the United Kingdom said it would inject 163 million euros in Eutelsat, which had signed a several years contract with the British government a few days later.
Source: BFM TV
