May 14, 2018 / 6:16 PM / 2 months ago

UPDATE 1-Eutelsat says could fall short of full-year revenue target

(Adds outlook, details)

May 14 (Reuters) - Satellite operator Eutelsat reported third-quarter revenues below expectations on Monday and warned that its full-year revenues might decline by as much as 3.5 percent if certain one-off revenues didn’t materialise in the fourth quarter.

Its “other revenues” segment, composed of non-recurring revenue such as consulting fees and currency hedging, dropped 98.7 percent year-on-year to 0.1 million euros ($120,000) in the third quarter, Eutelsat said.

“We are working on a handful of active ‘Other Revenues’ opportunities in the pipeline which would enable us to land at the low end of our full-year total revenues objective of minus 1 to minus 2 percent,” CEO Rodolphe Belmer said in a statement.

“However, in the event that none of these ‘Other Revenues’ materialise in the fourth quarter, the decline in revenues could be up to c. -3.5 percent. This has no impact on our other objectives for the current and following two years which are fully confirmed,” he said.

The company reported third-quarter revenues of 337.4 million euros ($404 million), missing by 3 percent the 348 million euros expected on average in a company circulated poll, as it recorded a decline in all activities, except for its core video segment which met expectations with a nearly flat like-for-like change.

The satellite service sector faces structural challenges over the role of satellite delivery, relative to streaming media offering customers content over the Internet.

Press Release : bit.ly/2L1BQlh ($1 = 0.8373 euros) (Reporting by Nolwenn Brossier; Editing by Mark Potter and Adrian Croft)

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