Eutelsat Communications reported revenues of $848.71 (euro 633.6) million and net income of US$ 239.13 (euro 178.5) million for the first half of fiscal year 2012-2013 cementing its position as one of the world’s biggest satellite operators.
Michel de Rosen, CEO of Eutelsat Communications, said he is pleased with the company’s robust results with revenue growth of over 5% and an EBITDA margin exceeding 79%. He said the company’s record backlog of €5.4 billion underscores Eutelsat’s long term visibility on revenues and cash flows.
“At the half year point, Eutelsat remains fully on track to meet its current year and mid-term targets of top-line growth of 5 to 6% for the current fiscal year and a CAGR of 6 to 7% for the three years to June 2015, and an EBITDA margin of around 77%,” he said.
Eutelsat successfully launched Eutelsat 21B and Eutelsat 70B in the first half and recently entered into service while the recently acquired Eutelsat 172A has been smoothly integrated into the company fleet. Rosen said these three advances mark another milestone in the Group’s expansion program that will lead to an increase of in-orbit resources by more than 30% in the three-year period from June 2012 to June 2015.
Eutelsat said its video applications recorded revenue growth of 6.8% to $576.88 (€430.7) million, fuelled by growth at 7°/8° West and 16° East serving broadcast clients in the Middle East and North Africa. It said that at the 16° East neighbourhood, where Eutelsat serves broadcasters in Central Europe and Indian Ocean Islands , contracts were signed to support new TV channels, which rose 12% to 588, (+61) at the end of 2012. It added sustained channel growth and HDTV adoption across the fleet.
The company’s Data Services revenues, however, declined by 1.5% to €93.7 million, reflecting competitive pressure in the African market. But its revenues for Value-Added Services stood at €31.2 million, up 37.6%.
Eutelsat’s two most recently launched satellites, Eutelsat 21B and Eutelsat 70B, became operational on 18 December 2012 and 16 January 2013 at 21.5° East and 70.5° East respectively and did not contribute to first half revenues. Existing traffic at both positions was successfully transferred and expansion capacity is expected to progressively ramp-up over the coming quarters.
Eutelsat currently has 30 satellites delivering reach of Europe, the Middle East, Africa, Asia, significant parts of the Americas and the Asia-Pacific. Eutelsat’s satellites broadcast almost 4,500 television channels to over 200 million cable and satellite homes in Europe, the Middle East and Africa.
