Eutelsat Cuts Annual Revenue Guidance

Eutelsat Cuts Annual Revenue Guidance

Eutelsat Group (EUTLF.PK), a French satellite operator, said on Monday that it has revised down its full-year revenue outlook, citing the delay in the ground network, especially in mobility and in certain geographies where market access is still outstanding.

The Group said: "The results of the LEO activities of OneWeb, while progressing well, with 100% of the satellites in place and a backlog of $1.1bn at the end of the last quarter, are running behind schedule relative to the original roadmap. This reflects delays in the availability of the ground network, as well as a revenue mix more oriented than expected towards the sale of user terminals, which impacts margins."

For the full year, the company now expects revenue of 1.25 billion euros to 1.3 billion euros compared with its previous guidance of 1.32 billion euros- 1.42 billion euros.

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