In Short:
Eutelsat Group, the third-largest satellite operator in the world, reported third-quarter sales of 300.8 million euros, slightly below analysts’ forecast. The company reaffirmed its full-year outlook after merging with OneWeb in September. Due to delays in the rollout of the ground network, the company had lowered its guidance in January but confirmed in February that it was back on track. It expects adjusted core profit between 650 million and 680 million euros for the full year.
Eutelsat Group Reports Third-Quarter Sales in Line with Expectations
Eutelsat Group, the world’s third-biggest satellite operator by revenue, reported third-quarter sales of 300.8 million euros ($325.38 million), in line with expectations.
This figure fell just short of the 304 million euros forecast by analysts in a poll compiled by the company.
Rollout of OneWeb Ground Network
The group, formed by the September merger of France’s Eutelsat and Britain’s OneWeb, had lowered guidance in January due to delays in the rollout of its OneWeb ground network.
However, in February, the company announced that it had caught up after the delays and confirmed in Tuesday’s trading update that the rollout was on track.
The company expects full-year adjusted core profit between 650 million and 680 million euros.
