Eutelsat Net Income Increase 17% in 1st Half 2015-16
Paris, France, February 17, 2016 – The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 – NYSE Euronext Paris: ETL) reviewed the financial results for the half-year ended 31 December 2015. First Half revenues were €774 million, up 1.5% on a like-for-like basis.1 Net attributable income was €188 million, up 17.0%; net margin of 24%.
Other highlights of the results include:
- High level of profitability: EBITDA margin of 77.5%
- Backlog of €5.8 billion, almost four years of revenues
- Full year objectives confirmed; revenues at low end of range
Commenting on the First Half results, Michel de Rosen, Chairman and CEO of Eutelsat Communications, said: “Eutelsat’s First Half results were in line with expectations. In the Second half, the ramp up of recently launched satellites for fast growing markets, notably EUTELSAT 8 West B for the Middle East and North Africa region, EUTELSAT 115 West B for the Americas and EUTELSAT 36C for Russia and Sub-Saharan Africa, should enable us to achieve our Full Year objectives.
Important steps were taken during the First Half to expand the scope of our growth drivers, particularly in the market for broadband services. First, the order of an all-electric High Throughput Satellite that will scale up our broadband efforts in Africa following the lease of capacity on AMOS-6 satellite. Second, the announcement this month of a joint venture with ViaSat to leverage our respective resources in the European satellite broadband market will support the commercial performance of KA-SAT.
Thanks to our targeted deployment plan and our focus on fast-growing markets and applications, Eutelsat is positioned to capture the growth opportunities available in our sector. In this context I am delighted to welcome Rodolphe Belmer, who will assume the role of CEO on 1 March at such an exciting time in our company’s development”.
1 At constant currency and excluding non-recurring revenues
2 Operating income before depreciation and amortisation, impairments and other operating income/(expenses)
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