Eutelsat Revenues Up 3.1% in 2nd Half of 2013
Paris, France, February 14, 2014--Eutelsat anounced financial results for half year ending December 31, 2013, reporting revenue growth of 2.2%, and 3.1% at constant currency and excluding non-recurring revenues in line with full-year objectives. EBITDA was €501 million (approximately US$ 676.83 million). The EBITDA margin was 77.4%.
Group share of net income of €147 million with a net margin at 22.8%. Eutelsat said that they have a backlog of €5.3 billion representing more than four years of revenues.
Eutelsat CEO Michel Rosen said " in video applications, our main neighborhoods saw good channel growth demonstrating a positive underlying trend. The performance of this activity in the first half reflects a lack of available capacity, which will be addressed with future fleet deployments, and the impact of the suspension of operations on certain frequencies at 28.5° East. The performance of data was more than offset by the growing contribution from Value-Added Services which is benefiting from our new commercial impetus. Multi-usage revenues held up well thanks to the integration of EUTELSAT 172 A and new contracts."
Eutelsat's acquisition of Mexico-based operator Satmex finalized on January 1, 2014 will result in a "signficiant upsaling" of its businessin Latin America market, said Rosen. Satmex was acquired by Eutelsat using financing from a €930 million six-year bond issue in December 2013.
"Our deployment plan for the remainder of the current and coming two years will bring additional capacity that will principally serve video markets in the fastest growing regions, notably Latin America, Russia, the Middle East and Africa,"said Rosen. "Our standalone financial objectives for the current and following two years are confirmed and our mid-term growth potential will be enhanced by the integration of Satmex,” he added.
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