Eutelsat First-Quarter Sales Rise to 295.4 Million Euros
Eutelsat Communications (ETL) SA, the world’s third-largest satellite company, said first-quarter revenue rose 3.4 percent and it expects an acceleration in “top-line” growth in the second half of the year.
Sales in the three months through Sept. 30 advanced to 295.4 million euros ($407 million) from 285.6 million euros a year earlier, the Paris-based company said in a statement on its website today.
Growth was restricted by temporary “capacity constraints, resulting from two years of stronger-than-expected uptake of our in-orbit resources,” Chief Executive Officer Michel de Rosen said in the statement. “Replacement and expansion resources, and a further five satellites to be launched between now and June 2014, will enable us to meet continued solid underlying demand in our markets.”
Eutelsat confirmed its forecast for the full year through June 2012 and its three year targets. The company in July projected full year revenue will exceed 1.24 billion euros. Earnings before interest, taxes, depreciation and amortization are projected to exceed 955 million euros.
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