Eutelsat reports €47.9 million revenue from Africa in H2 2020

Eutelsat Communications generated €47.9 million in revenue from Africa, representing 7.6% of its total revenue of €628.5 million.

Eutelsat half-year 2020-21 financial result

Eutelsat Communications generated €47.9 million in revenue from Africa, representing 7.6% of its total revenue of €628.5 million. Africa’s revenue dipped by a 0.1 percentage point compared to the €48.9 million reported in the previous half-year.

Eutelsat Communications, a leading satellite operator with coverage over Europe, the Middle East, Africa, Asia and the Americas, released its financial results for the half-year ended December 31, 2020, on February 12, 2021. Its Board of Directors, chaired by Dominique D’Hinnin, reviewed and assented the financial results a day earlier.

Compared to the previous half-year report of December 31, 2019, the total revenue fell from €636.6 million to €628.5 million. And of the five Eutelsat applications, broadcast (€378.9 million), data and professional video (€81.4 million), and government services (€76.9 million) still account for the majority of the revenue. Fixed broadband and mobile connectivity account for €42.1 million and €33.9 million, respectively. Other revenues reported €15.4 million.

With Operating Verticals revenues down by 2%, “Eutelsat has produced a solid first-half performance, reflecting our resilience in the COVID-19 impacted context and with an EBITDA margin at 76.7%, despite the costs associated with broadband ramp-up”, Rodolphe Belmer, CEO of Eutelsat, said.

“Free-cash flow generation at the half-year stage already amply covers the dividend paid in November. The past six months have been dynamic from a commercial point of view…Because of this solid start to the year, we are in a position to absorb the negative perimeter effect linked to Broadband transactions and to raise the low end of our FY 21 revenue objective”.

Eutelsat is ramping up efforts in its African market. In November 2020, following the entry into service of the Eutelsat Konnect satellite, the Eutelsat launched the Konnect retail distribution service. This next-generation of satellite broadband services across Europe and Africa is currently being rolled out across both continents, with broadband packages designed to address individuals’ needs, small businesses, and institutions currently operating beyond the fibre footprint.

It also signed an agreement to provide broadband in Zimbabwe and to post offices in Ivory Coast. Eutelsat expanded its contract with Multichoice and extended its agreement with ZAP.

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