Eutelsat has announced plans for a capital increase of €1.35 billion to support the long-term development of its Low Earth Orbit (LEO) satellite activities, including its OneWeb constellation, with backing from the French State and other key shareholders including shipping line CMA CGM.
The funding will be used to support the operator’s strategy to scale its LEO-enabled connectivity services, as well as accelerate the rollout of Europe’s IRIS² multi-orbit communications programme.
Eutelsat says it is targeting full global coverage for OneWeb by the end of 2026, with a current revenue backlog of €3.7 billion already agreed for the system.
The new capital will be raised through two transactions: a €716 million reserved capital increase subscribed by the French State (via APE), Bharti Space Limited, CMA CGM and the Fonds Stratégique de Participations (FSP); and a €634 million rights issue.
The capital injection will support the continuation of the LEO rollout, including procurement of additional satellites andfurther development of satellite network portals.
Eutelsat CEO Jean-François Fallacher said the capital increase will provide the financing needed to implement the company’s LEO-focused roadmap: “Thanks to its differentiated GEO-LEO positioning and global coverage, Eutelsat is ready to become a central player in the development of the European sovereign space of tomorrow.”
The capital increase is expected to be completed by the end of 2025. Following the transaction, the French State is expected to hold a 29.99% stake, with Bharti, CMA CGM and FSP holding 18.70%, 7.81%, and 5.22%, respectively.
