Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) announces that its universal registration document 2023-24 has been filed in HTML format with the Autorité des Marchés Financiers (AMF) under number D.24-0761 on October 17, 2024. This document is available to the public under the conditions stipulated by regulations and can be consulted or downloaded from the Company's website, (www.eutelsat.com, in the “Investors/Regulated information” section). Hard copies of the document are also available upon request.
The document contains the following information:
The annual financial report 2023-24 ;
The Statutory Auditors' reports ;
Information on the fees paid to the Statutory Auditors.
Paris, 9 August 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) has entered into exclusivity and signed a put option agreement with the EQT Infrastructure VI fund (“EQT”) with respect to its passive ground infrastructure assets.
The contemplated transaction would consist in the carve-out of the passive assets (land, buildings, support infrastructure, antennas and connectivity circuits for the combined portfolio of teleports and SNPs) to form a new company which would be incorporated as a standalone legal entity. EQT will own 80% of the capital, while Eutelsat Group will remain committed as long-term shareholder, anchor tenant and partner of the new company with a 20% holding alongside EQT.
The new entity would be the world’s largest pure-play, operator-neutral, ground station- as-a-service company, bringing together top-level teams combining satellite-specific knowledge with highly experienced infrastructure service operators for optimum customer service.
On completion of the transaction, Eutelsat would enter into a long-term framework master service agreement (MSA) covering services to be rendered by the new company to Eutelsat Group. The MSA would assure the seamless continuity of Eutelsat’s activities at the same high level of efficiency, reliability and security.
The contemplated transaction values the new entity at an enterprise value of €790m, representing attractive EBITDA-Capex and EV/EBITDA multiples. It would shift future maintenance capex to the new entity, while the proceeds would enable Eutelsat to strengthen its financial profile and focus on the next generation of its multi orbit -fleet.
Eva Berneke, Chief Executive Officer of Eutelsat Group, said, “We are proud to become the first satellite operator to embark on this innovative transaction which would allow us to build on the model adopted in other industries, and to optimise the value of our extensive ground network. In EQT we have found a partner of the highest quality, who shares our vision. This transaction would represent a win-win situation for all parties, and would enable Eutelsat to strengthen its financial profile, whilst continuing to rely on the unparalleled quality and reliability of its ground infrastructure. Moreover, we are confident that with the backing of EQT, the business would be in a position to fully embrace the opportunities opening up to it as the new Global leader in this dynamic sector.
Carl Sjölund, Partner within the EQT Value-Add Infrastructure advisory team, added: “At EQT, we identified satellite ground stations as an attractive digital infrastructure vertical several years ago. They play an important role in ensuring global connectivity, especially for those not covered by fixed and mobile connectivity solutions and require deep global expertise in developing and operating telecommunications infrastructure businesses. We are delighted to partner with Eutelsat Group to create a ground station leader and capture the growth opportunity fuelled by technological innovation.”
The transaction remains subject to customary conditions precedent, in particular the approval by the relevant regulatory authorities as well as consultation with French security authorities and the appropriate employee representative bodies. Closing of the deal is expected in the first quarter of calendar year 2026.
Eutelsat Group has entered into exclusivity and signed a put option agreement with the EQT Infrastructure VI fund (“EQT”) with respect to its passive ground infrastructure assets.
Operating verticals revenues of €1,268m, within our expected range
Adjusted EBITDA of €698m, exceeding objective
Order backlog of €3.9bn, boosted by LEO pipeline
Paris, 9 August 2024– The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the year ended 30 June 2024.
HIGHLIGHTS
FY 2023-24 results in line with objectives with Operating Verticals revenues of €1,268 million and adjusted EBITDA of €698m1
Eutelsat / OneWeb combination closed end-September 2023 creating the first LEO-GEO operator.
Growth in Connectivity thanks to acceleration of LEO revenues as well as incremental GEO capacity.
Robust commercial traction, notably with major, multi-application contract with Intelsat on LEO constellation.
Operational successes including entry into service of KONNECT VHTS and EUTELSAT 10B, launch of EUTELSAT 36D, and completion of space-segment of OneWeb Constellation.
Successful refinancing of November 2025 EUTELSAT S.A. and RCF bond completed at the end of March with issuance of €600 million of senior notes, due 2029.
FY2023-24 objectives updated in January 2024 i) Pro-forma with 12 months’ OW figures; Based on a €/$ rate of 1.00; ii) Revenues in a range of €1.25bn to €1.3bn; iii) Adjusted EBITDA in a range of €650m to €680m
Paris, 17 June 2024 – Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), confirms its participation in Seraphim Space’s second VC fund, SSV II. Eutelsat’s investment aims to foster technological innovation within the space sector, supporting dynamic start-ups in Seraphim’s portfolio.
Through this partnership, Eutelsat Group and Seraphim will support the development of advanced capabilities to meet the growing market demand for global connectivity, Earth observation, and advanced data services. The investment underscores Eutelsat Group’s dedication to remaining at the forefront of innovation and supporting emerging technologies that will transform the space industry.
SSV II, will have a particular focus on the application of Artificial Intelligence (AI) to space data, in-orbit computing and space-enabled communications.
Eutelsat Group and Seraphim Space are eager to begin this promising collaboration, paving the way for new advances in the space domain and beyond.
“We are excited to invest into Seraphim Space, a leading global player in space technology investment. This partnership allows us to closely engage with groundbreaking companies, enhancing our capacity to innovate and deliver next-generation connectivity solutions. We look forward to working with Seraphim and its portfolio of start-ups to shape the future of satellite communications and space services.” said Guillaume Scottez, Chief Innovation Officer at Eutelsat Group.
Mark Boggett, CEO of Seraphim Space, commented: “We are thrilled to strengthen Seraphim Space’s heavyweight industry and corporate backing with the addition of Eutelsat Group, a trailblazer in satellite communications and a strong advocate for NewSpace. We are looking forward to working together to amplify our ability to support pioneering space companies that are driving significant advancements in the space sector. Together, we are well-positioned to support the next wave of innovation in satellite infrastructure, services and beyond.”
Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), confirms its participation in Seraphim Space’s second VC fund, SSV II. Eutelsat’s investment aims to foster technological innovation within the space sector, supporting dynamic start-ups in Seraphim’s portfolio.
Paris, 3 June 2024 – Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), has announced that its first generation of more than 600 satellites in Low Earth Orbit (LEO) has achieved a platinum rating in the Space Sustainability Rating (SSR), marking a significant recognition of the company's commitment to responsible space utilization.
First imagined at the World Economic Forum (WEF), the rating’s aim is to reduce the creation of space debris, limit the risk of satellite collisions, and help ensure space operations are managed safely and sustainably.
An international consortium developed the methodology behind the rating including experts from the European Space Agency, the Massachusetts Institute of Technology, BryceTech and the University of Texas at Austin. eSpace – EPFL Space Center was chosen to operationalise the SSR and lead its implementation in the hope to recognize the space sustainability efforts of different space actors, as well as recognizing compliance and encouraging better-than-required behaviours.
The SSR rating is based on six modules, including: Mission Index, which calculates the impact of spacecraft on operational risk, Collision Avoidance Capabilities; Data Sharing; Detectability, Identification and Trackability; Application of Design and Operation Standards; as well as the use of future External Services.
By surpassing the 80% threshold, resulting in the highest-level rating, a platinum level Space Sustainability Rating score, Eutelsat Group's achievement underscores the Group’s dedication to prioritizing sustainable design and operations of the constellation.
"With our increased presence in both LEO and geostationary orbit (GEO), we remain committed to the sustainable and responsible use of space” said Eva Berneke, CEO of Eutelsat Group. “We are honoured to receive SSR’s recognition and congratulations to the entire team for their hard work and dedication to sustainable and safe operations."
Eutelsat Group has announced that its first generation of more than 600 satellites in Low Earth Orbit (LEO) has achieved a platinum rating in the Space Sustainability Rating (SSR), marking a significant recognition of the company's commitment to responsible space utilization.
Third Quarter Operating Verticals revenues of €300.3m
+8.5%1 year-on-year
+1.4%1 quarter-on-quarter
Sustained double-digit growth in Connectivity
Nine Month Operating Verticals revenues up 3.6% year-on-year
FY 2023-24 financial objectives confirmed.
Paris, 14 May 2024 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2024.
HIGHLIGHTS
Third Quarter and Nine-month revenues in line with expectations.
Video in line with overall market trend of mid-single digit decline; base effect of nonrenewal of Digitürk contract and Russian sanctions washed through from Q3.
Double-digit growth in Connectivity (Government Services: +22.1%; Mobile Connectivity: +48.0%; and Fixed Connectivity: +24.2%), driven by incremental GEO capacity and LEO.
All Full Year 2023-24 financial objectives confirmed.
Successful launch of EUTELSAT 36D satellite, assuring service continuity with optimised performance for video customers at the 36° East orbital position.
Major $500m commercial deal with Intelsat for capacity on OneWeb LEO constellation.
Change at constant currency and perimeter. The variation is calculated as follows: i) Q3 2023-24 USD revenues are converted at Q3 2022-23 rates; ii) the contribution of the BigBlu retail broadband operations from 1st January 2023 to 31 March 2023 is excluded from Q3 2022-23 revenues iii) Q3 2022-23 revenues are restated to take into account the contribution of OneWeb as if the operation had been completed from July 1st 2022; iv) Hedging revenues are excluded.
Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the Third Quarter and Nine Months ended 31 March 2024.
Paris, 06 May 2024 – Pursuant to recent press speculation, Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), confirms it is analysing options to partner with external infrastructure investors in its ground network.
At this time this analysis is preliminary in nature, and there can be no certainty that it will lead to a specific outcome.
Eutelsat Group will communicate further only if and when this analysis materialises into a potential transaction.
Pursuant to recent press speculation, Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), confirms it is analysing options to partner with external infrastructure investors in its ground network.
Paris, 30 April 2024 – Eutelsat Group (ISIN: FR0010221234 – Euronext Paris / London Stock Exchange: ETL) announced today that Kevin Steen has been appointed by the Eutelsat America Corp. (EAC) Board of Directors to the position of President and CEO of EAC. He will also continue his existing role as President and CEO of OneWeb Technologies (OWT). EAC and OWT completed their combination earlier this year and will go to market as a single EAC entity.
EAC is a subsidiary of Eutelsat Group, delivering communication services and solutions to US Government and Military customers around the globe in support of national security missions.
Prior to his appointment as President and CEO of EAC, Kevin served as the CEO of OWT since 2022 and the CEO of iDirect from 2017 until 2022. Kevin is recognized as a leader in the satellite industry with a track record of success utilizing organic and inorganic growth strategies. Steen joined iDirect in 2010 and served in multiple roles including Chief Operating Officer and Vice President of Business Development. Kevin brings over 30 years of technology and business experience to his new role. He holds a master’s degree in business administration from Northeastern University and a Bachelor of Science from the University of Denver.
Commenting on the appointment, Pamela A. Drew, Board Chair said at EAC: “We are pleased to welcome Kevin to Eutelsat America Corp. and are confident his extensive experience will be an asset to us as we merge the two companies. The combination of OWT and EAC brings an unparalleled, multi-orbit satellite communications capability to address the unique mission needs of the US Government.”
Steen added: “I look forward to leading a seamless integration of the OWT and EAC teams. It is an exciting time for our industry and the new EAC is poised for great success, leveraging the geosynchronous satellite capabilities of Eutelsat and the low earth orbit satellite capabilities of OneWeb.”
Eutelsat Group announced today that Kevin Steen has been appointed by the Eutelsat America Corp. (EAC) Board of Directors to the position of President and CEO of EAC. He will also continue his existing role as President and CEO of OneWeb Technologies (OWT).
Paris, 31 March 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) today announces the successful launch and deployment of its EUTELSAT 36D satellite. SpaceX’s Falcon 9 rocket launched the satellite into a Geostationary Transfer Orbit (GEO) on March 30, 2024 at 5:52 p.m. ET from Launch Complex 39A at Kennedy Space Center, Florida, USA.
Based on the Airbus Eurostar Neo platform, EUTELSAT 36D will replace EUTELSAT 36B, at the 36° East orbital position, where it will operate alongside EUTELSAT 36C. Embarking 70 physical Ku-band transponders, the satellite will assure service continuity with optimised performance for customers in Video over its footprint. The satellite also includes additional flexibility and coverage options, enabling to balance the loading between its different missions.
Eva Berneke, CEO of Eutelsat Group, commented:“EUTELSAT 36D is now on its way to replace EUTELSAT 36B at the 36° East orbital position. We are looking forward to its entry into service in the second half of calendar 2024. This is also an opportunity to take our long-lasting relationship with Airbus to the next level. My congratulations to the Eutelsat Group, Airbus and SpaceX teams for the completion of another successful satellite program.”
Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) today announces the successful launch and deployment of its EUTELSAT 36D satellite. SpaceX’s Falcon 9 rocket launched the satellite into a Geostationary Transfer Orbit (GEO) on March 30, 2024 at 5:52 p.m. ET from Launch Complex 39A at Kennedy Space Center, Florida, USA.
First Half operating verticals revenues of €571m, confirming return to topline growth, driven by Eutelsat GEO business and inclusion of OneWeb LEO business in the Second Quarter
Continued rise in secured backlog for LEO business despite delays in ground segment roll-out
Design of Next Generation LEO constellation securing continuity of customer service with stepwise capacity and functionality improvements, leading to reduction in capital expenditure for the period 2025-30
Paris, 16 February 2024 – The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the Half Year ended 31 December 2023.
Including OneWeb participation from October 1st, 2023 Unaudited change at constant currency and constant perimeter. The variation is calculated as follows: i) H1 2023-24 USD revenues are converted at H1 2022-23 rates; ii) the contribution of the BigBlu retail broadband operations from 1st July 2022 to 30 December 2022 is excluded from H1 2022-23 revenues iii) H1 2022-23 and H1 2023-24 revenues are restated to include the contribution of OneWeb as if the operation had been completed from July 1st, 2022; iv) Hedging revenues are excluded.
The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the Half Year ended 31 December 2023.
