Outlook lowered and targets suspended
- Eutelsat shares drop 16% after OneWeb delays
- Outlook for fiscal 2024 and 2025 targets lowered
- OneWeb’s LEO activities running behind schedule
- Revenue expected to be between 1.25 billion to 1.3 billion euros
- Adjusted EBITDA estimated to range between EUR650 million to EUR680 million
- Legacy business remains on track
- Objectives for fiscal 2025 suspended
- Company aims for double-digit growth rate in revenue and adjusted EBITDA
Eutelsat shares dropped 16% after the French satellite operator lowered its outlook for fiscal 2024 and suspended its fiscal 2025 targets due to delays at its recently acquired U.K. satellite-internet company OneWeb. OneWeb’s low Earth orbit communications network activities are running behind schedule, hurting revenue. Eutelsat’s revenue for the year is now expected to be between 1.25 billion to 1.3 billion euros, and adjusted EBITDA is estimated to range between EUR650 million to EUR680 million. The company’s legacy business remains on track, but objectives for fiscal 2025 are suspended. Eutelsat aims for a double-digit compound annual growth rate in revenue and adjusted EBITDA between fiscal 2024 and 2028.
Public Companies: Eutelsat (EUTLF), OneWeb (N/A)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific information about Eutelsat lowering its outlook for fiscal 2024 and suspending its fiscal 2025 targets due to delays at OneWeb. It includes details about the drop in share price and the reasons behind the delays. The information is specific and does not contain irrelevant or misleading information. However, it is a short article and lacks in-depth analysis or additional context.
Noise Level: 7
Justification: The article provides relevant information about Eutelsat’s lowered outlook and the reasons behind it. It includes details about the delays at OneWeb and the impact on Eutelsat’s revenue and earnings. However, the article lacks in-depth analysis or exploration of long-term trends or antifragility. It also does not hold powerful people accountable or provide actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Eutelsat shares
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the impact of Eutelsat lowering its outlook for fiscal 2024 and suspending its fiscal 2025 targets due to delays at its recently acquired U.K. satellite-internet company OneWeb. This has resulted in a drop in Eutelsat shares.
www.marketwatch.com 
