The French satellite operator has published its annual results for 2022-2023. Sales from operating activities are higher than forecast.
Growth expected next year
On July 28 the Eutelsat group published its financial results for the 2022-2023 financial year, ended June 30 .
On this occasion, the French satellite communications operator announced that it had achieved all its financial targets sales from operating activities came in at €1.157 billion, i.e. at the top end of the annual forecast range, profitability proved high, and strong free cash flow generation was recorded (€518 million).
Net income attributable to the Group stands at €315 million compared with €231 million last year, an increase of 36%, representing a net margin of 28%.
These good results, which allow Eutelsat to continue to hope for a return to sales growth from the 2023-2024 financial year onwards.
" On the commercial front, we have seen very good momentum in our connectivity activities, confirming the relevance of our strategy to refocus our business model on these new applications, commented Eva Berneke, Group CEO since January 2022. From an operational point of view, Eutelsat has proven its technological capabilities by ensuring a record number of satellite launches and commissionings. "
Following these announcements, the stock fell by 1 % on the Paris Bourse.
Two dates in September
The group, which has for the past year been planning to merge with the Indo-British operator OneWeb, has further specified that the General Meeting to approve the combination will be held between now and the end of next September.
In the meantime, Eutelsat confirms that OneWeb has been experiencing similar commercial momentum since October 2022, with an order backlog up 50 % (from $600 to $900 million).
Also, on the eve of the 26th Euroconsult World Satellite Business Week (WSBW), to be held in Paris from September 11 to 15 an interview with Eva Berneke will be published in Air & Cosmos issue no. 2841, due out on September 7.
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