Eutelsat is a leading satellite operator and the world's first integrated GEO-LEO satellite operator, formed in 2023 through the combination of Eutelsat and OneWeb. With a fleet of 34 geostationary satellites and a LEO constellation of over 600 satellites, the company provides global services for video broadcasting, broadband, data connectivity, and government communications. Eutelsat also delivers services for maritime and in-flight mobility, offering solutions like the Eutelsat Advance platform for high-end connectivity and digital platforms for broadcasters. Associated keywords include satellite communications, GEO-LEO infrastructure, and broadcast services.
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Eutelsat secured French export credit financing to fund an additional 440 OneWeb satellites.
Eutelsat achieved government services revenues of 98.6 million euro ($117.1 million) for the six months to the end of December, a near 8% increase compared to the same stage last year.
Latham & Watkins LLP acted as legal advisor to Eutelsat for the financing.
In the six months to the end of December, Eutelsat generated 110.5 million euro ($131.2 million) of connectivity revenues via the OneWeb LEO constellation, an increase of close to 60% compared to the same stage last year.
The disbursement of the ECA financing remains subject to several conditions precedent, including a bond issuance at Eutelsat Communications.
Eutelsat’s operating verticals revenues for the first half 2025-26 were €573.8 million.
Eutelsat's Government Services vertical contributed 17% of revenues and generated €98.6 million, with a like-for-like year-on-year change of +7.7%.
After canceling the Flexsat Americas order, Eutelsat has no geostationary Earth orbit (GEO) satellites on order.
With its OneWeb expansion and its contribution to IRIS2, Eutelsat has committed over €4 billion in spending.
On 11 February, Eutelsat signed a €975 million financing agreement with the French Export Credit Agency.
Eutelsat is a core member of SpaceRISE alongside SES and Hispasat.
Eutelsat's net debt-to-EBITDA ratio was 3.88× in June 2025.
Eutelsat committed €2 billion as part of the consortium partner share for IRIS2.
Eutelsat's June 2025 investor presentation identified a need for an additional 340 satellites to expand OneWeb availability until IRIS2 is operational in the early 2030s.
Eutelsat completed a €1.5 billion capital raise in late 2025 backed by investors including the UK and French governments.
Eutelsat is set to receive almost €1 billion in French government-backed financing to expand its OneWeb broadband constellation.
Eutelsat estimated the cost of the OneWeb extension at between €2 billion and €2.2 billion.
Access to the French-backed financing is subject to several conditions, including a bond issuance that would require Eutelsat to raise additional funding from private investors.
Eutelsat reported net debt of just over €2.6 billion in June 2025, an increase of €82.2 million year-on-year.
Eutelsat ordered 100 satellites from Airbus Defence and Space in December 2024 to ensure continuity of its current OneWeb service.