Eutelsat Group (OTCPK:EUTLF) Q1 2025 Earnings Conference Call October 29, 2024 1:30 PM ET
Company Participants
Christophe Caudrelier – CFO
Joanna Darlington – Head, Communications and IR
Conference Call Participants
Alexander Peterc – Bernstein
Roshan Ranjit – Deutsche Bank
Stephane Beyazian – ODDO BHF
Ben Rickett – New Street Research
Operator
Hello and welcome to the Eutelsat First Quarter 2024-2025 Revenue Call. Please note, this conference is being recorded and for the duration of the call, your lines will be on listen-only. [Operator Instructions]
I will now hand you over to your host, Christophe Caudrelier, CFO to begin today’s conference. Thank you.
Christophe Caudrelier
Hello, everyone. Happy to be here with you today. I am Christophe Caudrelier, Group CFO, and I am joined today by Joanna Darlington, Head of Communications and Investor Relations.
On the agenda today, we will cover the highlights of the first quarter, the Q1 performance as well as the outlook and financial objectives. Let’s start with the highlights of the past quarter. First quarter revenues were in line with expectations, enabling us to confirm all our full year 2024-2025 financial objectives. Connectivity applications continue to see growth, mostly on the back of LEO-enabled solutions.
On the operational front, we saw the successful launch of the latest batch of 20 OneWeb satellites, reinforcing the constellation. And we secured a multi-launch agreement with Mitsubishi Heavy Industrial, adding further optionality for access to space.
So, as stated above, we successfully launched a batch of 20 OneWeb satellites on October 19th. Adding these satellites will increase network strength and redundancy, particularly in the context of the end of life of some of the first satellites of the constellation.
Let’s turn now to the Q1 performance. As a usual reminder, all commentary is on a like-for-like basis, that is to say at constant currency
