Paris, 02 February 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) confirms that following an anomaly on its EUTELSAT 113 West A satellite which occurred on 31st January, it has ceased operations on the satellite.
Launched in 2006 and operating in inclined orbit at the 113° West position, EUTELSAT 113 West A (ex-Satmex 6) provided coverage of the Americas in C- and Ku-bands serving customers in video, data, and Government services on 18 operational transponders.
Mitigation actions are underway to minimize the disruption to customers impacted, including accelerated transfer to alternative capacity on our satellites located at the 115° and 117° West positions.
Eutelsat Group teams are deploying all possible efforts to mitigate the potential adverse consequences on orbital safety. Eutelsat Group reaffirms its commitment to a safe and sustainable space environment.
Approaching its end-of-life, the satellite is no longer part of the In Orbit Insurance policy. Before mitigation, the mechanical impact on revenues of the non-availability of the satellite is circa €3m in FY24 and €5-6m per annum for the period FY25-28. It does not alter our financial objectives for FY 2024.
Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) confirms that following an anomaly on its EUTELSAT 113 West A satellite which occurred on 31st January, it has ceased operations on the satellite.
Paris, 29 January 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) has completed the sale of OneWeb’s 50% share in the Airbus OneWeb Satellites joint venture.
The stake in the Florida-based business, which built the satellites for the OneWeb First Generation constellation, is being acquired by co-owner, Airbus U.S. Space & Defense, Inc.
The agreement reflects Eutelsat Group’s ongoing management of its assets with a view to optimizing and monetizing its portfolio as part of its debt reduction efforts.
Massimiliano Ladovaz of Eutelsat Group said: “We are proud to have partnered with Airbus in this joint venture which has assured the successful build of OneWeb’s First Generation constellation, and we are confident the business will continue to thrive by addressing the growing demand for small sats, with a best-in-class, competitive offer. Looking ahead, Eutelsat Group will benefit from being able to call on a more diversified range of suppliers for its future in-orbit needs, including Airbus which remains one of our most trusted partners.”
Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) has completed the sale of OneWeb’s 50% share in the Airbus OneWeb Satellites joint venture.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014, AND WHICH ALSO FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
Paris, 29th January 2024 - Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL). Following the merger with OneWeb forming Eutelsat Group, and a review of trading for the first three months since completion of the merger, Eutelsat Group provides the following update.
The legacy Eutelsat business remains on track with expected performance and confirms a return to top line growth for FY 2023-24, mainly driven by the entry into service of satellites EUTELSAT 10B and KONNECT VHTS.
The results of the LEO activities of OneWeb, while progressing well, with 100% of the satellites in place and a backlog of $1.1bn at the end of the last quarter, are running behind schedule relative to the original roadmap. This reflects delays in the availability of the ground network, as well as a revenue mix more oriented than expected towards the sale of user terminals, which impacts margins. The delay in the ground network impacts revenues, especially in mobility and in certain geographies where market access is still outstanding.
The deployment of the ground network is progressing well, towards a 90% completion rate in Q2 2024. We continue to see strong momentum in the take-up of pre-signed commitments with major customers, and we believe we are on track towards our longer-term targets.
Nevertheless, this dynamic will not suffice to close the gap relative to our near-term expectations, and in consequence we are adjusting our financial objectives for FY 2023-24 as follows (at a €/$ rate of 1.00):
Revenues are now expected in a range of €1.25bn to €1.3bn (versus €1.32bn to €1.42bn previously).
Adjusted EBITDA is expected in a range of €650m to €680m (versus €725m to €825m previously).
After synergies, cash capex is expected to remain well contained within a €725m to €875m per annum average range over the period FY 2025 to FY 2030; Cash capex for FY 2024 is expected in a range between €600m and €650m.
We also continue to target leverage of c.3x in the medium term.
To allow for a more accurate assessment of prospects in the context of the rapid development of OneWeb’s business, financial objectives for FY 2024-25 will be reviewed and shared on the occasion of Eutelsat Group’s FY 2023-24 Results on August 2nd, 2024; previously communicated objectives for FY 2024-25 are meanwhile suspended.
Management remains confident in the prospects of OneWeb and the potential of Eutelsat Group’s unique combined GEO-LEO offer. As the constellation achieves full global operational coverage, we anticipate an acceleration in revenues and continue to target double-digit CAGR in revenues and Adjusted EBITDA between FY 2024 and FY 2028.
Including $275m Take-or-Pay Agreement with Eutelsat
Pro-forma figures with 12 months’ OW figures (actual consolidation as of 1st October 2023)
Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL). Following the merger with OneWeb forming Eutelsat Group, and a review of trading for the first three months since completion of the merger, Eutelsat Group provides the following update.
EUTELSAT GROUP REAFFIRMS ITS SUPPORT TO FONDATION AILES DE FRANCE IN PARTNERSHIP WITH CNES IN AWARDING SPACE SCHOLARSHIPS TO YOUNG STUDENTS
PARIS, 12 January 2024 – Today saw the official opening of the Fondation Ailes de France 's 2024 ESPACE Scholarships designed to provide support to talented students in their higher education or research projects in various space-related areas.
In 2024, subject to a minimum number of high-quality submissions, the Fondation Ailes de France will be awarding in partnership with CNES and with support from Eutelsat Group:
12 scholarships worth €5,000 each to higher education students up to the age of 25,
and, starting this year for the first time, 2 scholarships of €5,000 each for students up to the age of 27 engaged in a doctoral research project.
The ESPACE Scholarships programme comes under the Fondation Ailes de France's youth focus strategy. The aim is to enhance understanding and appreciation of the aerospace industry by supporting educational, scientific, cultural and sustainable development projects, with particular emphasis on young people.
For the fourth year in a row, the ESPACE Scholarships initiative is open to students from a wide spectrum of scientific and non-scientific backgrounds looking to work in the space industry. The ambition is to promote space among young people and assist them in finding their way into the professional world while also helping to bring out the best in French talent in the sector.
A panel of experts from CNES, Eutelsat Group, the French Air Force and leading space businesses will be tasked with selecting the projects at the end of March. This will be followed in June by an official ESPACE Scholarships award ceremony.
Today saw the official opening of the Fondation Ailes de France 's 2024 ESPACE Scholarships designed to provide support to talented students in their higher education or research projects in various space-related areas.
London, UK – 21 November 2023: OneWeb India* has today received the necessary authorisations from IN-SPACe to launch Eutelsat OneWeb’s commercial satellite broadband services in India. OneWeb India is the first organisation to be granted this authorisation. Eutelsat OneWeb, the low earth orbit operator, is part of Eutelsat Group.
IN-SPACe is the agency of the Government of India, responsible for regulating space activities and granting authorisation for conducting the space activities in the country. This authorisation means Eutelsat OneWeb can launch commercial connectivity services as soon as spectrum allocation has been granted by the Government.
Bharti Group Chairman and Vice-President (Co-Chair) of the Board of Directors of Eutelsat Group, Sunil Bharti Mittal, said: “We are pleased to note the Indian space regulator’s green light to launch Eutelsat OneWeb’s commerical satellite broadband services in India. This will be a critical step forward to meet India’s ambition of providing internet connectivity for all and will enable the Hon’ble Prime Minister’s vision of Digital India. Eutelsat OneWeb is ready to deploy as soon as it receives the final spectrum authorization to launch commercial services.”
Cyril Dujardin, Co-General Manager of Connectivity at Eutelsat Group, said: “Bridging the connectivity gap around the world requires collaboration across business but also with governments and regulators. We are pleased to have received these approvals from the space regulator that bring the country a significant step closer to providing high speed connectivity to even the most remote locations. Having completed our LEO constellation last year, we are perfectly placed to deliver this vital connectivity service to businesses across India.”
This news adds to Eutelsat OneWeb’s existing strong position in the Indian market, where OneWeb India already holds the necessary licences from the Department of Telecommunications to provide broadband services using satellite connectivity. The business has also obtained in principle approval to establish and operate two gateways in Gujarat and Tamil Nadu, which would secure the provision of vital high-speed, low-latency internet connectivity to customers across India, once services are rolled out.
* The Eutelsat OneWeb Group are currently awaiting FDI approval to finalise its investment into OneWeb India.
OneWeb India has today received the necessary authorisations from IN-SPACe to launch Eutelsat OneWeb’s commercial satellite broadband services in India. OneWeb India is the first organisation to be granted this authorisation. Eutelsat OneWeb, the low earth orbit operator, is part of Eutelsat Group.
Operating Verticals revenues of €273 million, down 2.4%, but up 2.9% on a sequential basis (excluding one-off)
Continued robust double-digit growth in Mobile Connectivity on the back of strong commercial momentum
Eutelsat/OneWeb combination now live, and Eutelsat Group’s financial objectives confirmed, replacing Eutelsat standalone objectives
Paris, 26 October 2023 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the First Quarter ended 30 September 2023.
Operating Vertical revenues of €273m, down 2.4% like-for-like on a year-on-year basis. They rose by 2.9% on a sequential basis (quarter-on-quarter), excluding a one-off contract booked in Government services in Q4 FY 2022-
Continued robust double-digit growth in Mobile Connectivity:
Commercialization of the final beam on EUTELSAT QUANTUM. All of the satellite’s capacity is now commercialized, just 18 months following its entry into service.
Multi-year, multi-million euro contract with Marlink, for capacity on EUTELSAT 10B for maritime Connectivity in EMEA
Successful entry into service of the EUTELSAT KONNECT VHTS satellite, driving connectivity growth with 500 Gbps of incremental capacity and firm commitments totalling c.€450m.
Eutelsat/OneWeb combination projectapproved on 28 September 2023.
All financial objectives for Eutelsat Group are confirmed; they replace Eutelsat standalone objectives.
Further strong commercial momentum at OneWeb; backlog close to $1.0bn, up 66% year-on-year.
Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) reports revenues for the First Quarter ended 30 September 2023.
One of the most advanced satellites delivering fixed, mobile, and government connectivity across Europe.
500 Gbps of capacity making it the largest ever European geostationary satellite.
Firm commitments totaling c.€450m, underpinning Eutelsat Group’s revenue growth objectives in the coming years.
Paris, 26 October 2023 – Eutelsat Communications (Euronext Paris / London Stock exchange: ETL) announces today the successful entry into service of its state-of-the-art EUTELSAT KONNECT VHTS Very High Throughput Satellite, at the 2.7°E orbital position.
EUTELSAT KONNECT VHTS, a very high throughput satellite built by Thales Alenia Space, will provide fixed, mobile and government connectivity across Europe, North Africa and the Middle East. Delivering 230 beams and with a Ka-band capacity of 500 Gbps, EUTELSAT KONNECT VHTS is the largest geostationary satellite to date in Europe. It embarks the most powerful on-board digital processor ever put in orbit, offering capacity allocation flexibility, optimal spectrum use, and progressive ground network deployment.
This state-of-the-art satellite, with capacity seven times that of the previous generation EUTELSAT KONNECT, enters service with several major committed customers, namely Orange -- via its Nordnet affiliate for the French coverage, Telecom Italia Mobile over Italy, and Thales Alenia Space to serve notably government connectivity services. Totaling c.€450m, these commitments underpin Eutelsat Group’s revenue growth objectives in the coming years.
Eutelsat Group CEO Eva Berneke commented:“The entry into service of the state-of-the-art EUTELSAT KONNECT VHTS is an important milestone for the Group, showcasing once again our leadership in innovation, and our commitment to bringing connectivity to the next level in Europe to help bridge the digital divide. With its ability to accommodate joint GEO-LEO services, specifically in zones where demand is highly concentrated, EUTELSAT KONNECT VHTS represents a key asset in the Group’s offering going forward. Moreover, its substantial precommitments are a testament to the significant demand for satellite connectivity, even in developed markets.”
Eutelsat Communications (Euronext Paris / London Stock exchange: ETL) announces today the successful entry into service of its state-of-the-art EUTELSAT KONNECT VHTS Very High Throughput Satellite, at the 2.7°E orbital position.
Absolute reduction target: By 2030, a 50% reduction compared to 2021 in energy-related greenhouse gas (GHG) emissions within Scopes1+2 with the intention of submitting these reduction targets to SBTi.
Expanded Scope 3 Assessment: An in-depth re-assessment of Scope 3 to be conducted during 2024, now encompassing the GEO and LEO satellite fleets
increase the proportion of renewable energies in its overall energy consumption, notably through the procurement of lower-carbon energy for several of the key operational facilities.
as well as expand electricity generation capacity from solar panels owned and operated at its teleports in France, Italy, Portugal, and Mexico
and optimize electrical consumption at teleports by replacing and renewing obsolete equipment
Paris, 19th October 2023 – Eutelsat Communications (Euronext Paris, London Stock Exchange, ETL), one of the world's leading satellite communications operators, is unwavering in its commitment to combatting global warming and has outlined a set of ambitious targets to reduce the environmental impact of all its operations, aligning itself with the goals of the Paris Agreement.
By 2030, the Group is committed to reducing its energy-related greenhouse gas (GHG) emissions (Scopes 1+2) by 50% compared to the 2021 baseline year. In order to achieve its targets, the Group plans to:
increase the proportion of renewable energies in its overall energy consumption, notably through the procurement of lower-carbon energy for several of the key operational facilities.
as well as expand electricity generation capacity from solar panels owned and operated at its teleports in France, Italy, Portugal, and Mexico
and optimize electrical consumption at teleports by replacing and renewing obsolete equipment
The Group will shortly submit these targets to the Science Based Targets Initiative (SBTi), in order to provide an independent assessment and validation of these targets.
In addition, the Group is launching a detailed re-assessment of its Scope 3 emissions to be conducted in 2024. Since 2021 the Group has been reporting its full Scope 3 emissions, including the impact of the geostationary satellite fleet (GEO). In the future, and following the integration of OneWeb in its operations, Eutelsat Group will enhance its Scope 3 calculations to include the LEO satellite constellation and the associated ground infrastructure, principally the Satellite Network Portals (SNPs). This holistic approach reflects the Group’s dedication to understanding its carbon footprint, enhancing its sustainability efforts and contributing to the global fight against climate change.
“In a world marked by critical environmental challenges, Eutelsat Group is dedicated to implementing ambitious measures to reduce its energy-related emissions and safeguard the environment, both on Earth and in space. We firmly believe that integrating environmental considerations at the core of our business is imperative for ensuring the long-term success of our operations and drive sustainable value creation” states Jean-Hubert Lenotte, Chief Strategy and Resources Officer, Executive Committee Member.
Eutelsat Communications (Euronext Paris, London Stock Exchange, ETL), one of the world's leading satellite communications operators, is unwavering in its commitment to combatting global warming and has outlined a set of ambitious targets to reduce the environmental impact of all its operations, aligning itself with the goals of the Paris Agreement.
LONDON, 29 SEPTEMBER 2023: Eutelsat Communications (Euronext Paris: ETL) (the “Company”), a global leader in satellite communications, is pleased to announce that its entire issued share capital has today been admitted to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange (LSE) under the ticker symbol: ETL.
Eutelsat Group was formed following the successful completion of the combination between Eutelsat and OneWeb, which was approved by Eutelsat shareholders on 28 September 2023. The Group’s unique GEO-LEO offering positions it as a global leader in the space sector, ideally placed to address the growing need for satellite connectivity services across every corner of the globe.
Eva Berneke, Chief Executive Officer commented: “Eutelsat is among a limited number of listed equities offering exposure to the fast-growing Space Sector. Our admission to the London Stock Exchange will offer the opportunity to a wider section of investors and shareholders to participate in our exciting journey.”
Eutelsat Communications (Euronext Paris: ETL) (the “Company”), a global leader in satellite communications, is pleased to announce that its entire issued share capital has today been admitted to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange (LSE) under the ticker symbol: ETL.
Eutelsat Group becomes the first GEO-LEO integrated satellite group, transforming space communications and addressing the fast-growing connectivity market.
PARIS, 28 SEPTEMBER 2023: Eutelsat Communications SA (Euronext Paris: ETL) (the “Company”), one of the world's leading satellite operators, announced the completion of its all-share combination with OneWeb, the global low Earth orbit (LEO) satellite communications network, following the approval today at the Ordinary and Extraordinary General Meeting of Eutelsat shareholders. This combination forms Eutelsat Group.
The Company remains headquartered in Paris. OneWeb will be a subsidiary operating commercially as Eutelsat OneWeb with its centre of operations remaining in London. The Company remains listed on the Euronext Paris Stock Exchange and has applied for standard listing on the London Stock Exchange.
The newly formed Eutelsat Group is strategically positioned to be a global leader in space communications. Eutelsat’s powerful GEO fleet will combine network density and high throughput with the low latency and ubiquity of OneWeb’s LEO constellation to offer customers global, fully integrated connectivity services. This combination confirms Eutelsat as a pioneer in the space industry and a leader in space technology innovation, showcasing its continuous commitment to pushing the boundaries of the satellite landscape.
With OneWeb’s network already active and set to be globally operational by end of 2023, the combined GEO-LEO service will open up new markets and applications for customers, including Fixed Connectivity (Backhaul, Corporate networks), Government Services and Mobile Connectivity (Maritime and Inflight). Broadcast and video services will remain integral to Eutelsat Group’s business and continue to deliver unparalleled and innovative services for customers, including new IP native video services, at the convergence of broadband and broadcast.
The combined entity is expected to grow at a double-digit revenue CAGR over the medium to long-term, reaching c. €2bn in 2027. Adjusted EBITDA for the combined entity is expected to grow at a double digit CAGR over the same period, outpacing revenue growth.
Dominique D'Hinnin, Chairman of the Board of Directors, said: “This is an historic moment for the satellite industry. We are bringing together two businesses that are at the forefront of delivering integrated, seamless and reliable connectivity to customers worldwide.
“We will be moving fast to accelerate the growth of the combined business. With the support of strategic shareholders of both entities, we are confident of maximising financial performance and operational excellence, while capitalising on the high-return investment of next generation satellites.
“I would like to pay tribute to all colleagues who have ensured we can successfully deliver this combination. We are ready to provide connectivity and services that will support economic and social development globally as a trusted partner for multi-orbit connectivity.”
Sunil Bharti Mittal, Vice-Président (Co-Chair) of the Board of Directors, commented:“This exciting combination will be transformative for communities and businesses worldwide, utilising the unique blend of GEO and LEO technologies. This is a major milestone for us, our partners, and the customers we serve. The business combines compelling strategy, technology, and talent to deliver across several markets and verticals and together we are well-positioned to deliver value for all our shareholders.
“Closing the digital divide is a critical mission for Eutelsat Group and the combination of these two businesses, which have each pursued this goal separately, accelerates our progress. I want to thank everyone who has made today possible. Because of the work of our colleagues, we have created a company which will bring connectivity to more people around the world and help close the digital divide.”
Eva Berneke, Chief Executive Officer, added: “Eutelsat Group is the only GEO-LEO operator in satellite communications that can offer a ubiquitous connectivity service. Global connectivity is an important and exciting challenge to deliver upon. We can address a wider range of customer requirements and provide hybrid connectivity services where they are required worldwide, all with industry leading resilience. As we continue our track record of innovation to develop future generations of satellite technology, we can unlock significant value both for customers and shareholders. The Eutelsat-OneWeb combination has given us the scale, financial strength, and business proposition to capitalise on the significant opportunity.”
Eutelsat Communications SA one of the world's leading satellite operators, announced the completion of its all-share combination with OneWeb, the global low Earth orbit (LEO) satellite communications network, following the approval today at the Ordinary and Extraordinary General Meeting of Eutelsat shareholders. This combination forms Eutelsat Group.
