Eutelsat: LEO 25% of FY revenue
August 7, 2026

By Chris Forrester



Eutelsat’s OneWeb low Earth orbiting constellation is proving to be an impressive contribution to its revenue picture. Its latest results (Q4 and Full Year to June 30th) show that OneWeb’s FY revenues grew 69.5 per cent to €297 million, and 25 per cent of its overall revenues (and were at just 15 per cent a year ago).

Indeed, Eutelsat said that the upcoming year (2026-2027 trading period to June 30th next year) will see OneWeb’s growth offset the overall decline in geostationary revenues, and with a stable EBITDA margin.


Eutelsat confirmed that it expects to receive $504 million (€437m) as compensation for switching out of the upper C-band frequencies serving the US, plus the costs of converting equipment.

Total revenues for FY 2025-26 stood at €1.23 billion, down 0.6 per cent on a reported basis and up by 3 per cent like-for-like. Revenues of the four Operating Verticals (excluding ‘Other Revenues’) stood at €1.1971 billion, up by 1.8 per cent on a like-for-like basis.

Jean-François Fallacher, Chief Executive Officer of Eutelsat, commented: “This has been a landmark year for Eutelsat. We have delivered on our financial objectives while achieving significant strategic milestones that reinforce our long-term growth trajectory. Our Low Earth Orbit business continued its strong momentum, with revenues increasing by nearly 70 per cent, demonstrating the growing demand for secure, resilient and low-latency connectivity solutions across government and enterprise markets. Over the past year, we have fundamentally strengthened the Company’s financial foundations through the successful completion of a comprehensive €5 billion refinancing, providing a robust and diversified capital structure to support our ambitions. At the same time, we secured major commercial wins, including our first call-off contract under the French Armed Forces’ NEXUS framework agreement, further validating the strategic value of our multi-orbit capabilities for sovereign customers.”

“Looking ahead, we expect continued strong growth in our LEO business to offset the structural decline in GEO, supporting slight revenue growth and stable profitability in FY 2026-27. With the forthcoming outcome of the IRIS² First Rendez-Vous expected to confirm Eutelsat’s leadership of the LEO segment, we are uniquely positioned as Europe’s leading space connectivity operator, playing a central role in delivering the sovereign communications infrastructure that Europe increasingly requires. We enter the new financial year with confidence, underpinned by a strengthened balance sheet, growing commercial momentum and a clear strategic roadmap for long-term value creation,” he added.