EUTELSAT COMMUNICATIONS FIRST HALF 05-06 RESULTS

First Half revenues of 774 million, up 1.5% on a like-for-like basis1

High level of profitability: EBITDA margin of 77.5%

Net attributable income of 188 million, up 17.0%; net margin of 24%

Backlog of 5.8 billion, almost four years of revenues

Full year objectives confirmed; revenues at low end of range

Paris, 17 February 2016 - The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - NYSE Euronext Paris: ETL) reviewed the financial results for the half-year ended 31 December 2015.

Key financial highlights 6 months to Dec 2014 6 months to Dec 2015 ActualChange Like-for-likeChange

Revenues - m 722.8 774.4 7.1% 1.5%[1]

Profitability

EBITDA [2]- m 559.6 600.3 7.3% -

EBITDA margin - % 77.4 77.5 0.1 pt -

Group share of net income - m 160.7 188.0 17.0% -

Financial structure

Net debt - m 3,807.0 3,723.3 - 83.7m -

Net debt/EBITDA - X 3.5 3.2 - -

Backlog - bn 6.1 5.8 - 5% -

Commenting on the First Half, Michel de Rosen, Chairman and CEO of Eutelsat Communications, said: Eutelsat's First Half results were in line with expectations. In the Second half, the ramp up of recently launched satellites for fast growing markets, notably EUTELSAT 8 West B for the Middle East and North Africa region, EUTELSAT 115 West B for the Americas and EUTELSAT 36C for Russia and Sub-Saharan Africa, should enable us to achieve our Full Year objectives.

Important steps were taken during the First Half to expand the scope of our growth drivers, particularly in the market for broadband services. First, the order of an all-electric High Throughput Satellite that will scale up our broadband efforts in Africa following the lease of capacity on AMOS-6 satellite. Second, the announcement this month of a joint venture with ViaSat to leverage our respective resources in the European satellite broadband market will support the commercial performance of KA-SAT.

Thanks to our targeted deployment plan and our focus on fast-growing markets and applications, Eutelsat is positioned to capture the growth opportunities available in our sector. In this context I am delighted to welcome Rodolphe Belmer, who will assume the role of CEO on 1 March at such an exciting time in our company's development .

[1]At constant currency and excluding non-recurring revenues

[2]Operating income before depreciation and amortisation, impairments and other operating income/(expenses)

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 2016 and approved by the Board of Directors of Eutelsat Communications on 16 February 2016.

RECENT HIGHLIGHTS

The semester was marked by the entry into service in October 2015 of two satellites: EUTELSAT 8 West B, boosting coverage of the MENA region, and EUTELSAT 115 West B, bringing additional resources to the Americas.

EUTELSAT 36C was launched on 25 December 2015. The satellite's Ku-band capacity entered into service in February. EUTELSAT 36C replaces EUTELSAT 36A to bring incremental video capacity to Russia and Sub-Saharan Africa. It also carries a Ka-band High Throughput payload for broadband services in Russia which will be operational later in the year.

EUTELSAT 9B was launched on 29 January 2016 and will enter into service in March, bringing mostly replacement capacity to broadcast markets in Western and Central Europe.

Eutelsat's broadband efforts in Sub-Saharan Africa, initiated with the lease of the AMOS-6 Ka-band payload in partnership with Facebook, took a new step forward with the procurement of a High Throughput Satellite to be launched in 2019 that will expand coverage and increase performance.

On 9 February 2016, Eutelsat and ViaSat entered into a joint-venture that leverages their respective resources and strengths to operate and expand the commercial reach of the KA-SAT satellite. The two companies are jointly considering longer-term plans for additional satellite broadband capacity in Europe.

ANALYSIS OF REVENUES [1]

In millions Six months to December 2014 Six months to December 2015 Reported

change At constant

currency

Video Applications 452.4 468.9 3.7% 1.5%

Data Services 107.4 118.0 9.9% -3.1%

Value-Added Services 51.4 55.1 7.3% 6.7%

Government Services 92.2 106.2 15.2% -1.5%

Other revenues 19.4 26.1 34.5% 30.7%

Sub-total 722.8 774.4 7.1% 1.5%

Non-recurring revenues - - - -

Total 722.8 774.4 7.1% 1.5%

EUR/USD exchange rate 1.31 1.11 - -

Group First Half revenues stood at 774.4 million, up 1.5% at constant currency and by 7.1% on a reported basis. The appreciation of the dollar added 5.6 points to top-line growth, particularly represented in Government Services and to a lesser extent Data.

Second quarter revenues stood at 386.7 million, up 1.0% at constant currency and by 5.9% on a reported basis.

Video Applications (63% of revenues)

Video Applications revenues in the First Half were up 1.5% at constant currency to 468.9 million. This rise reflected the entry into service of EUTELSAT 8 West B at the beginning of the second quarter, bringing incremental capacity to the MENA region. Growth was also driven by positive trends at Fransat, Eutelsat's Direct-to-Home platform serving TV homes in France, and at the 7 East (Turkey, East Africa) and 16 East (Central Europe, Sub-Saharan Africa) orbital positions. This performance offset the negative impact of contract renegotiations with Russian customers as well as lower revenues at the HOT BIRD position following the non-renewal of contracts with some service providers last year.

Second quarter revenues stood at 239.5 million, up 4.7% at constant currency.

At 31 December 2015, the total number of channels broad

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