Eutelsat projects modest revenue uptick for 2027 as OneWeb gains traction
Eutelsat forecasts slight revenue growth in 2027, driven by over 30% growth in its OneWeb LEO business, as it positions itself as a European alternative to Starlink.
French satellite operator Eutelsat has projected a slight increase in revenue for the 2027 fiscal year, signaling growing confidence in its low-Earth orbit (LEO) internet business. The company issued the guidance in a trading update on Friday, noting that it expects revenue growth next year after a period of stable performance.
The company's core profit margin for 2027 is expected to remain broadly in line with the 2025/26 level. The forecast hinges on the continued expansion of its OneWeb constellation, which the company says is the only operational global LEO connectivity network outside of Elon Musk's Starlink. This positioning makes Eutelsat a key player in European efforts to cultivate alternatives to U.S.-dominated satellite services.
Eutelsat anticipates that LEO revenue will climb by more than 30% in the coming year. This growth is expected to offset the ongoing decline in its legacy geostationary satellite operations, which are primarily focused on video broadcasting.
The company also reported its full-year results for the period ending in June, showing a 3% increase in like-for-like revenue to €1.24 billion (approximately $1.43 billion). This figure surpassed the average analyst expectation of €1.20 billion, underscoring the company's stronger-than-anticipated performance in its core business.