Eutelsat: suspending programmes in Russia and Iran will hit financial results

The logo of the European satellite operator Eutelsat is pictured at the company's headquarters in Issy-les-Moulineaux near Paris, France, August 17, 2022. REUTERS/Sarah Meyssonnier

PARIS, Dec 22 (Reuters) - Eutelsat (ETL.PA) will take a bottom-line hit of around 10 to 15 million euros ($16 million) to its full-year revenues following the suspension of several television programmes in Russia and Iran, the company said.

The moves to stop carrying three Russian programmes as well as ending all broadcasting activities in Iran, will cost the company's EBITDA operating profit 15-20 million euros ($15.96 -21.28 million) and reduce available cash flow by around 10 million euros.

Eutelsat said in a statement it had now ended all involvement in the broadcast of three Russian channels, Rossiya One, Pervyi Kanal and NTV, after France's Arcom television regulator urged the company to do so.

"Eutelsat has also ensured that it is not involved in the broadcasting of RT News in Russia," it added.

The company's halting of broadcasting activities related to Iran came in reaction to a European Union regulation this month.

($1 = 0.9394 euros)

Reporting by Tassilo Hummel; Editing by Sudip Kar-Gupta

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