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Press release - 30 July 2021 07:16
FULL YEAR 2020-21 RESULTS Facebook
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Operating Verticals revenues at the top end of our expected range
Further high level of Free Cash Flow generation
Topline to grow from FY 2022-23 with an acceleration in FY 2023-24
Adjusted Discretionary Free Cash Flow objective for FY 2021-22 raised by 30m; growth from FY 2022-23
Recommending 5% dividend increase to 0.93[1] per share
Paris, 30 July 2021 - The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), chaired by Dominique D'Hinnin, reviewed the financial results for the year ended 30 June 2021.
Rodolphe Belmer, Chief Executive Officer of Eutelsat Communications, said: FY 2020-21 was a solid year with revenues at the high end of our upwardly revised guidance, record high cash generation and a further reduction in our Net Debt / EBITDA ratio. Major commercial highlights included, in Broadcast, the Sky Italia renewal, reflecting the long-term relevance of satellite in Europe and two hosted payloads in Government Services. The year was a turning point for our Connectivity business, in particular Fixed Broadband, with notably the entry into service of EUTELSAT KONNECT as well as major wholesale agreements with Telcos, Orange and TIM, for capacity on both EUTELSAT KONNECT and EUTELSAT KONNECT VHTS. Finally, Eutelsat accomplished a major strategic move, gaining a foothold in the LEO segment through its investment in OneWeb. OneWeb represents an additional growth engine for our Connectivity businesses with strong potential for co-operation thanks to complementarity of resources and assets.
Looking ahead, Operating Verticals revenues for FY 2021-22 are expected between 1,110 and 1,150 million. They will subsequently return to growth from FY 2022-23 with an acceleration in FY 2023-24 on the back of the entry into service of incremental assets with substantial firm precommitments. Our Adjusted Discretionary Free Cash Flow objective for FY 2021-22 is raised by 30m with growth from FY 2022-23. We are also renewing our commitment to strong shareholder returns with a recommended dividend of 0.93, up 5%.
Subjects
Electronic business, communication
Innovations, inventions
Network products
Telecommunication, mobile telephony
Telecom
Radio, TV
About Eutelsat Communications
Founded in 1977, Eutelsat Communications is one of the worlds leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Over 6800 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Headquartered in Paris, with offices and teleports around the globe, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service.
Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).
For more about Eutelsat go to www.eutelsat.com
Media enquiries
Joanna Darlington
Tel.: 33 1 53 98 31 07
jdarlington@eutelsat.com
Marie Sophie Ecuer
Tel.: 33 1 53 98 32 45
mecuer@eutelsat.com
Jessica Whyte
Tel.: 33 1 53 98 46 21
jwhyte@eutelsat.com
Investors
Joanna Darlington
Tel.: 33 1 53 98 31 07
jdarlington@eutelsat.com
C dric Pugni
Tel.: 33 1 53 98 31 54
cpugni@eutelsat.com
Alexandre Illouz
Tel.: 33 1 53 98 46 81
aillouz@eutelsat.com
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