Eutelsat records IRIS² construction backlog as low-orbit revenue grows
Eutelsat ($ETL) reported €286 million of revenue for the first quarter of fiscal 2026/27, down 2.4% as reported and 0.9% on a comparable basis. Low-Earth-orbit revenue increased 30.1% like for like to €70.9 million, supporting 11.9% growth in connectivity revenue. Video remained a drag, with revenue declining 17.8% on the same basis. Completion of the IRIS² programme’s first review allowed the project to enter construction, adding €8.9 billion of future construction revenue to the order backlog.
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