- 1 -
PR/05/07
EUTELSAT COMMUNICATIONS REPORTS FIRST HALF 2006-2007 RESULTS
IN LINE WITH FULL YEAR GUIDANCE
-
5.2% revenue growth, driven by progress in Video Applications
-
Strong development in emerging markets
-
EBITDA
1
margin at 79.4%, maintained at the highest level among leading satellite operators
2
in
the Fixed Satellite Services sector
-
Sharp increase in consolidated net income at 79.9 million euros
-
Confirmation of full-year and medium-term objectives
Paris, February 15, 2007 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL),
one of the world’s leading satellite operators, today reported results for the first half ended December
31, 2006.
Six months ended December 31
In millions of euros
2005
2006
% change
Key elements of the consolidated income statement
Revenues M€
394.9
415.3
+5.2%
EBITDA M€
311.0
329.6
+6.0%
EBITDA margin
%
78.7
79.4
+0.7pt
Consolidated net income
M€
(21.2)
79.9
NA
Earnings per share
€
(0.16)
0.33
NA
Key elements of the consolidated cash flow statement
Net cash flow from operating activities
M€
228.2
240.3
+5.3%
Capital expenditure
M€
73.1
138.1
+88.9%
Operating free cash flow
M€
155.1
102.2
-34.1%
Key elements of the financial structure
Net debt
M€
2,242
2,302
+2.7%
Net debt/EBITDA
3
x
3.8
3.6
NA
Key operational metrics
Backlog €bn
4.0
3.8
NA
Leased transponders
Units
352
394
+42
Commenting on first half 2006-2007 results, Giuliano Berretta, Chairman and Chief Executive Officer
of Eutelsat Communications said: “This solid performance for our first half-year shows the dynamic of
the full set of digital markets addressed by our satellites. We have actively pursued growth of Video
Applications within the framework of our objective to maximise revenue yield per transponder. As a
result, this activity has increased over the last six months from 67% to account for 70% of revenues.
The successful launches in 2006 of two HOT BIRD™ satellites have also enabled us to consolidate
our key video neighbourhood, which, at the end of December 2006, passed the tipping point of 1,000
digital channels addressing 121 million satellite and cable homes in Europe, North Africa and the
Middle East. With these launches under our belt, we could also go ahead with redeploying two existing
satellites to other locations to serve broadcast markets experiencing solid growth.
In parallel, our Group has pursued the development of broadband services for regions not served by
terrestrial infrastructure, while the introduction of in-flight broadband for business aviation passengers
has fuelled further diversification of our portfolio of value-added services.
1
EBITDA is defined as operating income before depreciation and amortisation, excluding impairment charges, dilution profits
(losses) and insurance proceeds
2
SES, Eutelsat Communications, Intelsat
3
Based on last 12 months EBITDA