Eutelsat’s headquarters in Paris. Photo: Eutelsat

Eutelsat has seen sharp increases in revenues in mobile connectivity and fixed broadband for the three months to the end of Sept. 30. These were two of the highlights of its first quarter results, issued Oct. 12. Revenues in Mobile Connectivity for the three months reached 25.9 million euros ($25.2 million) a 30% increase compared to the same stage last year. Equally, Fixed Broadband revenues reached 18.7 million euros ($18.1 million), a 28% percent increase compared to the same stage last year. Overall, Eutelsat’s revenues were virtually unchanged from last year, reaching 287.4 million euros ($279 million) for the three months to the end of September.

In the area of Broadcast, revenues dropped to 170 million euros ($165.1 million), a drop of over 7% compared to the same stage last year. Interestingly, Broadcast now represents less than 60% of Eutelsat’s overall revenues. Combined, Mobile Connectivity and Fixed Broadband now represent 15 percent of Eutelsat’s overall revenues. The trend here is clear.

The biggest loss in terms of revenues was Eutelsat’s performances in Government Services, which only reached 35 million euros ($34 million) in the quarter. This represents close to an 18% decrease compared to the same stage last year.

Roshan Ranjit, a satellite equity analyst at Deutsche Bank said in a research note, “Eutelsat has reported Q1 group revenues which are c.1% light vs. company-compiled consensus and Deutsche Bank estimates, with a big (13%) miss in Government.”

It has been a big quarter for Eutelsat. It has seen the successful launch of its KONNECT VHTS in September, which is bringing 500 Gbps of incremental capacity over Europe. It has already secured major pre-commitments from the likes of Orange, Telecom Italia Mobile and Thales Alenia Space for capacity on this satellite.