Eutelsat H1 surprises

Eutelsat H1 surprises

Eutelsat has reported better than expected half-year numbers. While the headline revenues of €754.4 million were down 0.9%, cost savings and efficiencies helped deliver a respectable level of profitability, with an EBITDA margin of 77.9% (up 0.4%). Net income was up 2.2% at €192 million.

However, Eutelsat is certainly not out of the woods. Most analysts expect the satellite operator to be facing a tough year – or even two – ahead. For example, its all-important Backlog fell back a worrying 8 % (€500 million) to €5.3 billion.

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