Eutelsat Communications SA - Paris-based satellite services provider - Says revenue for its first quarter ended September 30 was down 4.7% to €274.0 million from €287.4 million the year before. Video revenue fell 11% to €163.5 million from €183.5 million. Government Services revenue fell 3.4% to €33.5 million, Fixed Connectivity fell 13% to €40.2 million, and Mobile Connectivity increased 36% to €35.2 million. Company adjusts its full-year targets following its combination with OneWeb in September, now expects double-digit Ebitda and revenue growth, with revenue reaching between €1.32 billion and €1.42 billion in the current financial year. Ebitda is forecast to be €725 million to €825 million.

Current stock price: €4.33, down 2.6% in London

12-month change: down 21%

Copyright 2023 Alliance News Ltd. All Rights Reserved.