FULL YEAR 2022-23 RESULTS

• All Full Year 2022-23 objectives attained[1]
  • Operating verticals revenues of €1,157m, at the upper end of expected range
• Continued strong Free-Cash-Flow generation, with adjusted DFCF at €518m
• Return to topline growth on a standalone basis from FY 2023-24 confirmed, with further strong cashflow generation
• Continued strong commercial momentum at OneWeb;
  • FY 2022-23 revenue objective achieved
• EGM to approve the transaction expected in late September 2023

Paris, 28 July 2023– The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 / Euronext Paris: ETL), chaired by Dominique D’Hinnin, reviewed the financial results for the year ended 30 June 2023.

Commenting on the Full-Year, Eva Berneke, Chief Executive Officer of Eutelsat Communications, said: “Fiscal Year 2022-23 has been a very solid year for Eutelsat, with revenues at the top end of our range of expectations, a high level of profitability and robust Free Cash Flow Generation. From a commercial point of view we have seen strong momentum in our Connectivity verticals, confirming our strategy of shifting our business model to address these new applications. Operationally Eutelsat has proven its technological credentials with a record level of satellite launches and service entries. In parallel, OneWeb, with who we are working closely to prepare our proposed combination has seen a similar commercial dynamic, with a 50% increase in its backlog since October 2022.

On the basis of the performance of the past year, Eutelsat confirms its standalone objectives for the current and outer years, and notably the long-awaited return to topline growth. With its industry-leading profitability and confirmed ability to generate a high level of Free Cash Flow, Eutelsat is in a strong position to make the combination with OneWeb a true success and I look forward to our joint future with confidence.”

Full Results are available here