Eutelsat Reports Strong LEO Growth Amid Mixed Financial Results for 2025-26

For the fiscal year ending June 2026, Eutelsat Communications reported notable growth in its Low Earth Orbit (LEO) business, which increased by 69.5% to €297 million, now constituting 25% of total revenues. Overall revenues reached €1,235.9 million, showing a 0.6% decrease on a reported basis but a 3.0% increase like-for-like.

The company faced challenges with its Geostationary Orbit (GEO) services, which declined, yet the growth in LEO offset this, supporting a stable adjusted EBITDA margin of 51.2%. The company also achieved a solid financial structure with net debt reduced by €1,162 million, lowering the net debt/Adjusted EBITDA ratio to 2.32x.

Looking forward, Eutelsat anticipates continued LEO growth to counter GEO declines in FY 2026-27. They expect over 30% LEO revenue growth, contributing to slight overall revenue growth and stable profitability. Major recent endeavors include a €5 billion refinancing and a significant contract with the French Armed Forces.