Changing your business model is a complex undertaking.
The French satellite operator Eutelsat is experiencing this, while investors question its ability to transform.
From a leader in video (TV channels) broadcast by satellite, the group has become a global giant in spatial internet, following the acquisition of OneWeb, operator of the eponymous constellation.
“We are pivoting from one model to another.
Our risk profile is evolving, from stable, profitable and low growth, to more risky and with high growth and profit potential, as a provider of connectivity solutions,”
explained Eva Berneke, CEO of the Eutelsat group, this Friday , presenting the 2023-2024 half-year results (ending in December).
These accounts turned red, showing a net half-year loss of 191.3 million euros for a turnover of 572.6 million, up 1.2% (+ 8.4% from the first to the second quarter ).
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