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Eutelsat: slumps to net loss in H1

( - Eutelsat has reported a net loss of -E191.
3m for H1 2023-24, compared with a E51.9m profit a year earlier, with an adjusted EBITDA margin of 64.1% at constant exchange rates, vs. 73% a year earlier.

The satellite operator says that its adjusted EBITDA margin reflects the gradual rebalancing of activities towards connectivity applications, where, at E571.1m, sales from operating activities rose by 1.2% on a comparable basis.

At end-January, Eutelsat lowered its targets for the current financial year, anticipating adjusted EBITDA of E650m to E680m, and sales of E1.25bn to E1.3bn.

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