Eutelsat projects more than €10 billion in commercial services revenue from the European Union's IRIS² satellite constellation between 2032 and 2040. Driven by €8.9 billion committed to designing and building the new system, the company's total backlog swelled from €3.4 billion to €12.1 billion. To support this growth, the operator plans to invest €3.39 billion in infrastructure between 2027 and 2034, which will secure over double the current bandwidth of its OneWeb network. While near-term quarterly revenue fell 2.1 percent to €278.3 million and missed market estimates, Eutelsat still reaffirmed its medium-term financial targets.
Key points
The IRIS² constellation provides Eutelsat with a massive pipeline of business to offset w…: The IRIS² constellation provides Eutelsat with a massive pipeline of business to offset weakening legacy broadcast sales.
Heavy capital expenditures totaling €3.39 billion will secure the company more than twice…: Heavy capital expenditures totaling €3.39 billion will secure the company more than twice the existing bandwidth of OneWeb.
Long-term commercial service projections remain strong despite soft quarterly revenue per…: Long-term commercial service projections remain strong despite soft quarterly revenue performance and satellite launches starting in 2029.
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Oct 29 : Eutelsat expects commercial services revenue of more than €10 billion ($11.1 billion) between 2032 and 2040 as it takes a leading role in the European Union's planned alternative to Elon Musk's Starlink satellite internet service, it said on Thursday.
The Franco-British operator had been chosen to lead the low Earth orbit (LEO) segment of the EU's IRIS² network that will feature 330 satellites. The first IRIS² satellites are scheduled for launch in 2029, with initial services expected from 2030.
Eutelsat has gained prominence as Europe tries to reduce the bloc's reliance on US technology after President Donald Trump's return to office, since it owns OneWeb, the only LEO satellite network alternative to SpaceX's Starlink.
In a trading update, the Paris-based company said its backlog now includes €8.9 billion of revenue from designing and building IRIS², to be recognised primarily between 2027 and 2031. That alone is more than seven times the €1.24 billion of revenue Eutelsat generated last year, and lifts its total backlog to €12.1 billion from €3.4 billion at end-June.
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