OTTAWA, Ontario, March 27, 2025 (GLOBE NEWSWIRE) — Telesat (NASDAQ and TSX: TSAT), one of the world’s largest and most innovative satellite operators, today announced its financial results for the three and twelve-month periods ended December 31, 2024. All amounts are in Canadian dollars and reported under IFRS® Accounting Standards unless otherwise noted. “Telesat achieved […]
Telesat (NASDAQ and TSX: TSAT) announced its financial results for the quarter and twelve months ended December 31, 2024, on March 27, 2025. Highlights include achieving 2024 revenue and Adjusted EBITDA above guidance, industry-leading Adjusted EBITDA margins, a GEO backlog of $1.1 billion, and securing $2.54 billion in loan financing from the Governments of Canada and Quebec for Telesat Lightspeed. Telesat Lightspeed development is progressing, but significant increases in operating expenditures and capital investment are expected to result in a 53% decrease in consolidated Adjusted EBITDA in 2025. 2024 consolidated revenue was $571 million, a 19% decrease year-over-year. Adjusted EBITDA for 2024 was $384 million, a 28% decrease year-over-year. CFO Andrew Browne is retiring later in the year.
