Eutelsat Report Full Year Fiscal 2014-15 Results in Line with Objectives

Paris, France, July 30, 2015--Eutelsat reported revenues of €1,476m up 4.0% , and 9.5% on a reported basis for the full year ending June 30, 2015. With an EBITDA margin of 76.7% the cmpany reported high level of profitability and the results wee fully in line with objectives.

Commenting on the FY 2014-15 results, Michel de Rosen, Chairman and CEO of Eutelsat Communications, said:“The past year has seen a number of significant commercial successes notably renewals at the HOT BIRD and 16° East video neighbourhoods, as well as several contract wins in Africa and MENA, and a strong performance by Satmex, that now operates as Eutelsat Americas. All applications contributed to growth.

Our deployment plan is paving the way for the future, with the order of EUTELSAT 172B equipping us to accelerate our expansion in Asia-Pacific from 2017, and the successful launch of EUTELSAT 115 West B, the first all-electric commercial satellite, that will bring expansion capacity to the Americas. The development and procurement of the software-defined Eutelsat Quantum satellite also underlines our commitment to innovation for our clients as a driver of growth.

Revenue growth for 2015-16 is targeted at 2-3%, reflecting the impact of Russian contract renegotiations, delays to our launch schedule and the current pressure on Government Services. In 2016-17 it should accelerate to 4-6%, thanks to the arrival of new capacity for fast-growing markets, albeit with a delay of EUTELSAT 65 West A. Revenues will continue to be underpinned by our solid backlog, representing over four years of revenues, as well as the positive dynamics in our targeted growth markets and applications. We remain committed to generating value for our shareholders, with a proposed dividend this year up 6% to €1.09, representing a payout ratio of 70%.”

Total revenues for FY 2014-15 stood at €1,476.4 million, up 4.0% on a pro-forma basis at constant currency and excluding non-recurring revenues. The appreciation of the dollar relative to the euro added 3.2 points to top-line growth, particularly in Government Services and to a lesser extent in Data Services. On a reported basis revenues were up 9.5% including the impact of changes in perimeter (acquisition of Satmex and disposal of KabelKiosk).

In the context of the current economic environment in Russia, Eutelsat entered into discussions with its Russian clients with the aim of alleviating some contract terms. The impact on FY 2014-15 revenues was around €2 million.

Revenues for the Fourth Quarter stood at €385.9 million, up 2.1% year-on-year like-for-like. The appreciation of the dollar relative to the euro added 7.4 points to top-line growth.

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