Eutelsat cuts FY 2024 EBITDA forecast 14% on OneWeb ground operations delays in India, Saudi Arabia, Thailand, Turkey

by Peter B. de Selding

LA PLATA, Maryland — Satellite fleet operator Eutelsat said delays in the deployment of the ground network of its OneWeb constellation of low-orbiting broadband satellites will reduce expected gross profit by 14% in the fiscal year ending June 30, and cut full-year revenue by 7%.

Eutelsat said OneWeb’s backlog as of mid-January was some 1.15 billion euros ($1.25 billion), up 150 million from in late 2023 on the strength of additional take-or-pay contracts from customers. The figure includes 275 million euros in . . .

To view the entire article, become a subscriber!

You may also like