Eutelsat estimates 50 million Euro loss with Amos-6 accident

The Amos-6 payload pictured on top of the Space-X Falcon-9 space launch vehicle prior to the 1 September 2016 accident. Photograph courtesy of SpaceX.

Eutelsat Communications (Euronext Paris: ETL) regrets the loss of Spacecom’s AMOS-6 satellite following the launch pad explosion today of the SpaceX Falcon 9 rocket in Cape Canaveral. In collaboration with Facebook, Eutelsat had contracted a multi-year agreement to lease the satellite’s Ka-band payload covering Sub-Saharan Africa, with a view to launching broadband services from early 2017.

Eutelsat remains committed to growing broadband in Africa and will explore other options to serve the needs of key clients ahead of the launch of its own full-High Throughput African broadband satellite, due in 2019.

The impact on revenues is estimated at around €5 million in FY 2016-17, €15 million in FY 2017-18 and €25-30 million in FY 2018-19. Attendant savings in operating costs will partially mitigate the impact on the EBITDA margin. All financial objectives published on 29 July 2016 are confirmed.

Established in 1977, Eutelsat Communications is one of the world’s leading and most experienced operators of communications satellites. The company provides capacity on 39 satellites to clients that include broadcasters and broadcasting associations, pay-TV operators, video, data and Internet service providers, enterprises and government agencies.

Eutelsat’s satellites provide ubiquitous coverage of Europe, the Middle East, Africa, Asia-Pacific and the Americas, enabling video, data, broadband and government communications to be established irrespective of a user’s location.

Headquartered in Paris, with offices and teleports around the globe, Eutelsat represents a workforce of 1,000 men and women from 37 countries who are experts in their fields and work with clients to deliver the highest quality of service.

Over the coming days and weeks SpaceWatch Middle East will provide additional coverage and analysis of the loss of Amos-6 on the global satellite telecommunications industry as well as its impact on the Israeli telecommunications and space sectors. Watch this space…

Original published at: http://spacewatchme.com/2016/09/eutelsat-estimates-50-million-euro-loss-amos-6-accident/

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Eutelsat estimates 50 million Euro loss with Amos-6 accident

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