Eutelsat Communications (EUTLF) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Eutelsat third quarter 2025-2026 revenues call. For the first part of the conference, the participants will be in listen-only mode. During the questions and answers session, participants will be able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the speaker, Sebastien Rouge, Chief Financial Officer. Please go ahead. Good evening, welcome, and thank you for joining us today for UTELSAT 3rd Quarter 25-26 Revenue Presentation. I'm Sébastien Rouge, Chief Financial Officer, and here with me, Joanna Darlington, Head of Investor Relations, and Hugo in her team. Let's start with the highlights of the past quarter. Third quarter operating verticals revenue of $283.7 million, up 0.9% year-on-year, in line with our expectations. Connectivity saw further double-digit growth of 15%, driven by LEO-enabled solutions, up 65% year-on-year. During the quarter, we successfully completed the closing of a 1.5 billion senior note offering that was the final milestone in the group's comprehensive 5 billion equity and debt refinancing strategy. And finally, based on the performance of the first nine months, we confirm our objectives of the full year. If we turn now to the Q3 performance. As a reminder, all comments are on a like-for-like basis, which means at current scope and currency. Total revenues for the third quarter stood at 293 million euros, up 3.1% on a like-for-like basis. They reflected a 20 million negative currency effect and a 10 million positive swing in other revenue, mainly driven by the recognition of Iris Square and related to Eutelsat's involvement as consortium system development prime. Revenues of the four operating verticals were up 0.9% on a like-for-like basis. Let's now have a look at the s...