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
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.