For the 2024–2025 financial year that ended June 30, 2025, Eutelsat Group’s total revenues were €1.24 million, up 1.6 per cent like-for-like and 2.5 per cent reported.
The company’s financial year report, released on Tuesday, was reviewed by the Eutelsat Communications Board of Directors, presided over by Dominique D’Hinnin.
€187 million LEO revenues account for 15% of Eutelsat’s total revenue
Strong demand momentum drove an 84.1 per cent increase in LEO revenues to €187 million. They account for 15 per cent of total revenue.
Like-for-like, the four operating verticals’ revenues (not including “Other Revenues”) increased by 0.8 per cent to €1.23 million.
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EBITDA decreases to €676.2 million
For the year ending June 30, 2025, reported adjusted EBITDA was €676.2 million, a 5.9 per cent decrease from €718.9 million the year before. On a like-for-like basis, it was stable.
At constant currency, the adjusted EBITDA margin was 54.2 per cent (54.4 per cent reported), down from 55 per cent (59.3 per cent reported) a year earlier. This demonstrated the continued stringent cost control procedures, the synergistic advantages of OneWeb’s integration, and the increasing share of service revenues in the LEO.
“This was in line with our financial projections of Operating Vertical Revenues around the same level, and an adjusted EBITDA margin slightly below the level of the previous year,” Eutelsat Group stated.
Total connectivity revenues
For the FY 2024–2025, total connectivity revenues were €618.1 million, up 9.1 per cent like-for-like and 10.6 per cent reported.
Revenues from fixed connectivity totalled €247 million, a 4.3 per cent increase from the previous year. They primarily represented the ongoing expansion of LEO-enabled connectivity solutions on the one hand and the more difficult circumstances for GEO-enabled solutions, such as the end of TIM revenue recognition on KONNECT-VHTS, on the other.
Orange and Eutelsat signed an LEO capacity agreement in June 2025. This agreement will allow Orange to support mobile backhauling worldwide and expand its satellite solutions portfolio with LEO connectivity options for its government and business clients.
Mobile connectivity revenues
FY 2024-25 Mobile Connectivity revenues stood at €160 million, up 0.3 per cent year-on-year. This mainly reflected growing demand for LEO-based solutions, notably in maritime, partly offset by lower GEO revenues as well as the impact of a one-off contract in aviation of €11 million, of which €8 million was recognised in FY 2023-24 and €3 million in FY 2024-25.
Recent commercial wins include a deal with India’s Station Satcom to deliver LEO connectivity services to the global maritime sector.
With over 100 certified antenna installations already finished out of a backlog of nearly 1,000 aircraft, Eutelsat confirmed the popularity of LEO-enabled services for commercial and business aviation. Today, the first aircraft is in operation.
Revenues from government services
Revenues from government services increased 24.1 per cent year over year to €211 million in FY 2024–2025.
They mirrored the rise in demand from other non-US governments and the expansion of LEO-enabled solutions, particularly with regard to services provided in Ukraine.
To strengthen the French military space communications model by integrating military and civilian resources, Eutelsat signed a significant €1 billion, 10-year framework agreement with France’s armed forces ministry (Direction générale de l’armement) in June 2025 as part of the NEXUS (Neo-Espace pour de multiples Usages Sécurisés) program.
In other news, the OneWeb LEO constellation will offer high-speed, low-latency connectivity to British embassies, high commissions, and consulates as part of a recently signed agreement with the UK’s FCDO.
Conclusively, Eutelsat signed an extension of its contract with MBS, one of Europe’s leading connectivity service integrators, through a new multi-year, multi-million-euro agreement to provide Eutelsat’s OneWeb LEO connectivity to European government and institutional customers.
Bridging the Digital Divide
Eutelsat completed its pledge under the International Telecommunication Union’s (ITU) Partner2Connect Digital Coalition by June 2025. This milestone, reached two years ahead of schedule, has provided high-speed internet access to almost one million people in underserved areas of Sub-Saharan Africa through Konnect Wi-Fi hotspots powered by the EUTELSAT KONNECT satellite.
This achievement supports the UN’s 2030 Agenda for Sustainable Development and reaffirms the company’s commitment to bridging the digital divide, which is a key component of its CSR strategy.
Corporate Social Responsibility
In FY 2024–2025, Eutelsat made significant progress in all three ESG areas, advancing its Corporate Social Responsibility agenda. Significant milestones demonstrate its dedication to climate action, transparent sustainability reporting, and inclusive connectivity.
Jean-François Fallacher, Chief Executive Officer of Eutelsat Communications, commented, “FY 2024-25 results were in line with our objectives, and the year was marked by genuine traction in our LEO revenues, which grew by over 80 per cent and now represent 15 per cent of revenues. I am excited to take the helm of Eutelsat as it enters a new chapter, centred on the deployment of LEO, a revolution for the Satellite industry.”
“Thanks to its differentiated GEO-LEO positioning and global coverage, Eutelsat is positioned to be a key player in the development of the European sovereign space of tomorrow and beyond, as showcased by the framework agreement with the French military. Finally, the recently announced €1.5 billion capital increase will give Eutelsat the requisite financing to implement its strategic roadmap, enabling us to deliver growth and value for all our stakeholders,” he added.