The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 / Euronext Paris: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the Half Year ended 31 December 2022.
Commenting on the First Half, Eva Berneke Chief Executive Officer of Eutelsat Communications, said: “Eutelsat delivered a solid First Half, with revenues from our Operating Verticals within the range of our Full Year objectives and industry-leading profitability maintained with a 73% EBITDA margin. This financial performance enables us to confirm our standalone outlook for the Full Year 2022-23, and for the outer years. The start of the year has also seen considerable operational success, with the ongoing strong commercial ramp-up of EUTELSAT QUANTUM, and a record number of four satellite launches, providing both service continuity and incremental capacity which will pave the way for our return to growth in FY 2023-24. Elsewhere, OneWeb continues to deliver positive commercial ramp-up, and the proposed deal to combine our two companies is on track for closing in calendar Q2/Q3 2023. In the long term, our new orbital assets as well as the projected combination with OneWeb will unlock significant potential in markets where the demand for connectivity is booming.”
Notes: This press release contains figures from the consolidated half-year accounts prepared under IFRS and subject to a limited review by the Auditors. They were reviewed by the Audit Committee on 15 February 2023 and approved by the Board of Directors on 16 February 2023. EBITDA, EBITDA margin, Net debt / EBITDA ratio, Cash Capex, Discretionary Free Cash-Flow and Adjusted Discretionary Free Cash-Flow are considered Alternative Performance Indicators. Their definition and calculation are in Appendix 3 of this document.