Eutelsat Stock Reaches One-Year High as Two Catalysts Align: Anuvu Deal and EU Spectrum Protection

Eutelsat shares hit 52-week high after Anuvu satellite deal and EU proposal to reserve 2 GHz spectrum for European providers, reducing US reliance.

The stars are aligning for Eutelsat Communications, whose shares have soared nearly 140% since the start of the year and punched through to a new 52-week high of €4.32 at the Paris bourse on Tuesday. Behind the rocket-like trajectory lie two distinct, yet complementary drivers: a fresh commercial contract that locks in a major airline customer and a Brussels policy move that could cement the company’s role in Europe’s satellite infrastructure for years to come.

Anuvu Deal Puts EUTELSAT 10B to Work

The latest spark came from a multi-year capacity agreement with connectivity specialist Anuvu. The deal centres on the EUTELSAT 10B satellite, in orbit since mid-2023, whose Ku-band capacity will deliver high-speed internet for a globally leading airline on routes across Europe and the Middle East. The stock jumped roughly 7% on Tuesday alone, pushing the share price to its highest level in a year and more than doubling from the December 2025 trough.

The contract underscores a deliberate strategy to load up the fleet with long-term service agreements in the aviation and maritime sectors. EUTELSAT 10B’s digital processors give the operator the flexibility to meet airlines’ surging demand for scalable bandwidth — a capability that is winning it premium deals even as the broader French market pulls back. The CAC 40 lost over 1% on the same day, making Eutelsat’s relative strength all the more striking.

Brussels Ponders Frequencies, Eutelsat Sits at the Table

While the Anuvu contract is a near-term revenue boost, a far larger regulatory catalyst is taking shape in Brussels. The European Commission is drafting a spectrum framework that would reserve two-thirds of the mobile satellite frequencies in the 2 GHz band for European providers. Starlink and Amazon’s Kuiper would be allowed access, but only to a third of the capacity — the rest would be ring-fenced for domestic players.

Eutelsat is deeply embedded in this picture through the SpaceRISE consortium, alongside SES and Hispasat, which is responsible for designing, building and operating the EU’s flagship IRIS² satellite system. IRIS² comprises 290 satellites — 272 in low Earth orbit and 18 in medium Earth orbit — and is explicitly intended to reduce Europe’s reliance on US technology. According to reports, IRIS² is among the European systems that would be prioritised for spectrum allocation, giving Eutelsat a strategic position that extends far beyond commercial satellite communications.

The proposal is not yet final — it remains subject to commissioner-level discussions and could change — but the market is clearly pricing in the potential. Shares now trade about 63% above their 200-day moving average, and the relative strength index stands at 30.7, a level the company describes as moderate, suggesting the rally has room to run rather than being overextended.

LEO Growth Already Evident in the Numbers

The regulatory tailwind meets a company that is already showing operational momentum. In the third quarter of its 2025/26 fiscal year, Eutelsat reported revenue of €293 million, up 3.1% on a constant-currency basis. The growth was concentrated in low Earth orbit, where revenues jumped 65% year-on-year to €62.2 million — a direct result of the expanding LEO fleet and new connectivity contracts.

In contrast, the legacy geostationary connectivity business continued to shrink, falling 4.3% to €93.5 million. The divergence highlights exactly why spectrum access and direct-to-device capabilities are becoming central to the equity story. The company has confirmed its full-year targets for 2025/26 and completed a comprehensive refinancing, removing near-term balance sheet overhangs.

With both a concrete airline deal and potential regulatory protection on the horizon, Eutelsat presents a case where near-term execution and long-term policy are moving in the same direction. The next key checkpoint will be the European Commission’s final decision on spectrum allocation — if it mirrors current drafts, the company’s place in Europe’s satellite infrastructure would no longer be based solely on commercial success, but on deliberate policy design.