PARIS (Reuters) – Eutelsat, the world’s third-biggest satellite operator by revenue, reported on Wednesday a 4.5% decline in revenues in the first quarter of its fiscal year, driven by a steep fall of its broadcast activities.
Group sales over the three months that ended on Sept. 30 amounted to 287 million euros ($279 million), the French company said in a statement.
Eutelsat, which announced its plan to merge with British peer Oneweb earlier this year, confirmed its full-year targets, including an annual adjusted discretionary free cash flow of 420 million euros.
($1 = 1.0288 euros)
(Reporting by Mathieu Rosemain; Edited by Benoit Van Overstraeten)
