Eutelsat Reports Revenues Of USD1.4 Billion, Broadcast Business Resilient
Eutelsat Communications, the global Satellite communications company, have released it 2019/2020 report, which show the company of posting better than expected COVID-19 revised operating revenues of US$1.4billion with a free cash flow of US$555million.
Despite the above figures, the Eutelsat reporting also noted that its broadcast revenues took a dip of about 1.2 per cent, which is a reflection of lower incomes due to a couple of transponders returned in Russia, and a contract termination in Sub-Saharan Africa.
Rodolphe Belmer, the chief executive officer of Eutelsat Communications, said of the yearly report: “Eutelsat has produced a robust set of results for Financial Year 2019-20 in the face of the Covid-19 headwinds, with a record level of Discretionary Free Cash Flow and an EBITDA margin that remains industry-leading.”
“Our core Broadcast business remains resilient, as demonstrated by the securing of several new contracts in Sub-Saharan Africa, notably with Canal+ Ethiopia. We have also made significant headway in our Fixed Broadband strategy ahead of entry into service of EUTELSAT KONNECT” he stated.
Credit: contribution from BroadcastPro ME