Eutelsat confirms guidance, with OneWeb network on track

Eutelsat Group, the world’s third-biggest satellite operator by revenue, on Tuesday reported third-quarter sales in line with expectations and reiterated its full-year outlook.

Sales were 300.8 million euros ($325.38 million), just short of the 304 million euros forecast by analysts in a poll compiled by the company.

The group formed by the September merger of France’s Eutelsat and Britain’s OneWeb lowered guidance in January after delays to the rollout of its OneWeb ground network.

It said in February that it had caught up after the delays and confirmed in Tuesday’s trading update that the rollout was on track.

The company said in February that it expects full-year adjusted core profit between 650 million and 680 million euros. Reuters