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Key figures 2008/2009 
Eutelsat achieved
record growth and results
for the 2008-2009
financial year.Progression of all financial indicators.
Consolidated revenues increased
by 7.2%, or by 6.7%
at a constant exchange rate excluding other income and non-recurring income. This performance reflects the progression of all the Group’s business activities which were notably driven by the dynamic of broadcasting, business communications and broadband.
Consolidated EBITDA* is up by
6.7%, taking Group EBITDA margin
to 78.9%. The Group's commercial
performance over the year, together
with a policy maintained of strict
cost control, enabled profitability to
remain at the highest level among
leading satellite operators.
*EBITDA is defined as operating income before depreciation and amortisation, and excludes impairment of assets. 
Up by 15.6%, cash flow from
operating activities was 654.7 M€,
representing 69.6% of revenues
compared with 64.5% for 2007-
2008. This performance enables
the Group to self-finance its capital
investments and leaves a free cash
flow of 358.7 M€. Free cash flow,
up by 149%, includes receipt
of an insurance indemnity for
121 M€. 
Consolidated net income is up
sharply by 43.6%, showing the
high level of Eutelsat’s operational
performance and, in terms of its
equity investments, the excellent
results of Hispasat, the Spanish
operator in which Eutelsat owns
a 27.69% stake. The figure also
includes one-off non-recurring
income of 25 M€ received in return
for relinquishing certain rights. 
The Group reduced its net debt
during the year by nearly 100 M€
compared with end-June 2008.
Its net debt / EBITDA ratio improved
to 3.13 from 3.48. At June 30, 2009
Eutelsat achieved
record growth and results
for the 2008-2009
financial year.Progression of all financial indicators.
Consolidated revenues increased
by 7.2%, or by 6.7% at a constant exchange rate excluding other income and non-recurring income. This performance reflects the progression of all the Group’s business activities which were notably driven by the dynamic of broadcasting, business communications and broadband.
Consolidated EBITDA* is up by
6.7%, taking Group EBITDA margin
to 78.9%. The Group's commercial
performance over the year, together
with a policy maintained of strict
cost control, enabled profitability to
remain at the highest level among
leading satellite operators.*EBITDA is defined as operating income before depreciation and amortisation, and excludes impairment of assets.
Up by 15.6%, cash flow from
operating activities was 654.7 M€,
representing 69.6% of revenues
compared with 64.5% for 2007-
2008. This performance enables
the Group to self-finance its capital
investments and leaves a free cash
flow of 358.7 M€. Free cash flow,
up by 149%, includes receipt
of an insurance indemnity for
121 M€. Consolidated net income is up
sharply by 43.6%, showing the
high level of Eutelsat’s operational
performance and, in terms of its
equity investments, the excellent
results of Hispasat, the Spanish
operator in which Eutelsat owns
a 27.69% stake. The figure also
includes one-off non-recurring
income of 25 M€ received in return
for relinquishing certain rights. The Group reduced its net debt
during the year by nearly 100 M€
compared with end-June 2008.
Its net debt / EBITDA ratio improved
to 3.13 from 3.48. At June 30, 2009