Eutelsat announced its FY17 Q2 results with revenues of €1.48 billion ($1.73 billion) and EBITDA of €1.16 billion ($1.36 billion), resulting in an EBITDA margin of 77%. The net income was €351.8 million ($411.6 million) with a net margin of 24%. Both the revenue and EBITDA had decreased by 3.3% and 2.7% respectively on yearly basis, which was in line with the company’s expectations.
The company believed that it’s strong performance was supported by solid commercial momentum in its core video business and in other verticals, particularly mobile connectivity. Also, the successful execution of it’s LEAP cost-savings plan will help the company deliver an EBITDA margin above 76% in FY18, and it is raising the target for FY19 and beyond to above 77%.