PR/77/12
Eutelsat Communications' Annual General Meeting
of shareholders of 8 November 2012
Paris, 8 November 2012
All resolutions approved including:
Fiscal 2011-2012 accounts
Dividend of 1 euro per share, up 11% on dividend for 2010-2011
By-lawsrevised to comply withcorporate governance best practicefor directors term of office: reduced from six to four years
Appointment of Miriem Bensalah Chaqroun and Elisabetta Oliveri as independent directors
The Ordinary and Extraordinary Annual General Meeting of Shareholders of Eutelsat Communications (Euronext Paris: ETL) was held today in Paris under the chairmanship of Jean-Martin Folz, Chairman of the Board. All resolutions put to the vote were approved, including the accounts for fiscal 2011-2012 and the proposed change to company by-laws.
Shareholders also approved the proposal to distribute 1 euro per share, an increase of 11% over the previous year. This distribution, which represents a pay-out ratio of 67%, will be paid on 21 November 2012.
Board appointments
Two women have been appointed to the Board as independent directors:
Miriem Bensalah Chaqroun (a Moroccan national) holds an MBA from the University of Dallas (Texas). She is CEO of Les Eaux Minrales dOulms (Holmarcom Group, of which she is also a Board member) and a board member of Bank Al Maghrib (the National Central and Reserve Bank of Morocco). She heads Moroccos employers union, the Confdration Gnrale des Entreprises du Maroc.
Elisabetta Oliveri (an Italian national) is a graduate in electronic engineering from the University of Genoa (Italy). She is CEO of Gruppo Fabbri Vignola and a Board member of Gruppo Editoriale L'Espresso, Azienda Trasporti Milano and SNAM (ENI Group).
Michel de Rosen, Chief Executive Officer, commented on the 2011-2012 financial results:
"Eutelsat Communications continues to deliver profitable growth, with revenues up 4.6% and the highest EBITDA margin among leading satellite operators. Our order backlog exceeded 5 billion, equivalent to 4.3 times annual revenues, lending high long-term visibility. Demand for satellite capacity across our footprint remains strong and we continue to optimise our fleet of current and upcoming satellites in order to capture growth in video, data and broadband markets in Europe, the Middle East, Africa and Asia. We remain committed to delivering profitable growth and shareholder value, targeting an EBITDA margin of around 77% in each of the next three years, and upgrading our dividend policy, with a payout ratio of 65-75% from the previous floor of 50%.
Jean-Martin Folz, Chairman of the Board, commented on the appointment of new Board members:
I am delighted to welcome two additional women to our Board. The exceptional professional and international experience of both Miriem Bensalah Chaqroun and Elisabetta Oliveri will be a strong asset to our Group.
Financial calendar for 2012-2013
February 7, 2013: earnings for the first half ended December 31, 2012
May 7, 2013: revenues for third quarter ended March 31, 2013
July 30, 2013: earnings for the full year ended June 30, 2013
About Eutelsat Communications Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the holding company of Eutelsat S.A. With capacity commercialised on 29 satellites that provide coverage across Europe, as well as the Middle East, Africa and significant parts of Asia and the Americas, Eutelsat is one of the worlds three leading satellite operators. As of 30 September 2012 Eutelsat's satellites were broadcasting more than 4,400 television channels to over 200 million cable and satellite homes in Europe, the Middle East and Africa. The Group's satellites also serve a wide range of fixed and mobile telecommunications services, TV contribution markets, corporate networks, and broadband markets for Internet Service Providers and for transport, maritime and in-flight markets. Eutelsats broadband subsidiary, Skylogic, markets and operates high speed Internet services through teleports in France and Italy that serve consumers, enterprises, local communities, government agencies and aid organisations in Europe, Africa, Asia and the Americas. Headquartered in Paris, Eutelsat and its subsidiaries employ just over 750 commercial, technical and operational professionals. This culturally diverse staff comprises employees from 30 countries. www.eutelsat.com
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