THIRD QUARTER AND NINE MONTH 2019-20 REVENUES

• Third Quarter Operating Verticals revenues down 1.6% year-on-year; up 1.2% quarter-on-quarter
• Broadcast showing resilience, with return to slight growth quarter-on-quarter
• Backlog of €4.2bn representing 3.2 years of revenues
• Updated financial objectives confirmed

Paris, 14 May 2020 – Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) today reported revenues for the Third Quarter and Nine Months ended 31 March 2020

Rodolphe Belmer, Chief Executive Officer, commented: “Third Quarter revenues were in line with our expectations, and confirmed the underlying improvement in Operating Verticals trends. In particular, Broadcast was highly resilient with stable revenues year-on-year and return to quarter-on-quarter growth with ongoing signs of commercial dynamism in emerging markets with a new DTH platform in Sub-Saharan Africa and the extension of a contract in the Balkans. Other commercial highlights include a solid Spring Renewal campaign with the US Government, a multi-year contract with Telenor Maritime in Mobile Connectivity, and for Konnect Africa, a MoU to connect several thousand schools across the Democratic Republic of Congo.

“Faced with the unprecedented constraints of the Covid-19 crisis, our focus is on the health and well-being of our employees and ensuring business continuity for our customers at a time when demand for reliable connectivity has never been higher. Our business is resilient compared with many industries, in particular our core Broadcast vertical. As a result, we expect the impact on Full Year revenues to be limited, reflecting mainly the effects of confinement on Mobility, Professional Video and to a lesser extent Fixed Broadband. As we continue to assess the effects on future years, we do so with the confidence that our strong financial position and cash-flow generation capacity, together with our combination of resilient heritage activities and connectivity-related growth opportunities will ensure we are well positioned to withstand challenges of the current environment.”

Read the full press release on our Third Quarter 2019-20 Revenues

1 Change at constant currency and perimeter. The variation is calculated as follows: Q3 2019-20 USD revenues are converted at Q3 2018-19 rates.
2 Other revenues include mainly compensation paid on the settlement of business-related litigations, the impact of EUR/USD revenue currency hedging, the provision of various services or consulting/engineering fees and termination fees.