On October 29, 2026, Eutelsat announced it expects more than EUR 10 billion in commercial services revenue between 2032 and 2040 thanks to its leading role in IRIS2, the European network conceived as an alternative to Starlink. The Franco-British company will lead the low Earth orbit segment of this network, which will have 330 satellites, with the first launches planned for 2029 and the first services for 2030.
The scale of the project is reflected in its order book: it already includes EUR 8.9 billion for the design and construction of IRIS2, to be recognized mostly between 2027 and 2031, raising its total backlog to EUR 12.1 billion, up from EUR 3.4 billion at the end of June. Eutelsat will invest EUR 3.39 billion in shared and commercial infrastructure between 2027 and 2034, in exchange for access to more than double OneWeb current bandwidth.
The announcement comes at a transitional moment for the company, which is looking to offset the decline of its video broadcasting business with satellite internet. Even so, the quarter was not entirely positive: revenue from its four operating businesses fell 2.1% on a comparable basis, to EUR 278.3 million, below the EUR 291 million analysts expected.
Source: Reuters (https://www.reuters.com/business/media-telecom/eutelsat-expects-11-billion-revenue-after-eus-starlink-rival-comes-online-2026-10-29/)
