Press release -
FULL YEAR 2021-22 RESULTS
- FY 2021-22 Operating Verticals revenues slightly above the mid-point of our expected range
- FY 2021-22 Adjusted Discretionary Free Cash Flow well above objectives
- Updated financial objectives
- Return to topline growth from FY 2023-24 confirmed
- Continued strong cash flow generation
- Dividend maintained at a high level of €0.93 per share
Paris, 26 July 2022– The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), chaired by Dominique D’Hinnin, reviewed yesterday the financial results for the year ended 30 June 2022.
Eva Berneke, Chief Executive Officer of Eutelsat Communications, said: “We delivered a robust performance in FY 2021-22 with revenues slightly above the mid-point of our guidance range, a stable industry-leading profitability and a continued strong free cash flow generation which is well above our range of objectives. Importantly, Fixed Broadband and Mobile Connectivity businesses have delivered double-digit growth highlighting their long-term potential whereas our Broadcast business has shown an improvement in trend in the second semester. In parallel, all the components necessary to foster our Telecom Pivot are gradually being put in place, including a new organization, an integrated platform and adequate in-orbit resources which will enable us to address the massive long-term connectivity opportunity. For the first year of our investment, our cooperation with OneWeb has been strengthened with in particular, the conclusion of a global distribution agreement to address all connectivity verticals further strengthened by an exclusive commercial partnership. Looking ahead, Operating Verticals revenues for FY 2022-23 are expected between €1,150 and €1,180 million with a return to growth in FY 2023-24 fully reiterated. Cash generation will remain sustained with an Adjusted Discretionary Free Cash Flow objective expected on average at €420 million per annum in the next couple of years. We are also renewing our commitment to strong shareholder returns with a recommended dividend maintained at a high level of €0.93 per share.”
About Eutelsat Communications
Founded in 1977, Eutelsat Communications is one of the world's leading satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. Around 7,000 television channels operated by leading media groups are broadcast by Eutelsat to one billion viewers equipped for DTH reception or connected to terrestrial networks. Committed to promoting all facets of sustainable development across its business activities, Eutelsat leverages its in-orbit resources to help bridge the digital divide while maintaining a safe and uncluttered space environment. As an attractive and socially responsible employer, Eutelsat assembles 1,200 men and women from 50 countries who are dedicated to delivering the highest quality of service.
Eutelsat Communications is listed on the Euronext Paris Stock Exchange (ticker: ETL).
For more about Eutelsat go to www.eutelsat.com
Marie Sophie Ecuer
Tel.: + 33 1 53 98 32 45
Tel.: +33 1 53 98 31 54
Tel.: +33 1 53 98 46 81