Ankündigung • May 14
Eutelsat Communications S.A. Confirms Earnings Guidance for the Full Year 2025-26 Eutelsat Communications S.A. confirmed earnings guidance for the Full Year 2025-26. Revenues of the four Operating Verticals in line with the level of Fiscal Year 2024-25. LEO revenues to grow by 50% year-on-year. Ankündigung • Feb 13
Eutelsat Communications S.A. to Report Fiscal Year 2026 Results on Aug 07, 2026 Eutelsat Communications S.A. announced that they will report fiscal year 2026 results on Aug 07, 2026 Ankündigung • Dec 13
Eutelsat Communications S.A. announced that it has received €1.497775133 billion in funding from CMA CGM S.A., Bharti Space Limited, Agence des participations de l'Etat, Fonds Stratégique de Participation (FSP) Compartiment On December 12, 2025, the company has closed the transaction. Ankündigung • Oct 22
Eutelsat Communications S.A. Confirms Financial Guidance for the Fiscal Year 2025-2026 and 2028-2029 Eutelsat Communications S.A. confirmed financial guidance for the fiscal year 2025-2026 and 2028-2029. The company confirmed revenues of the four operating verticals in line with the level of Fiscal Year 2024-25. LEO revenues to grow by 50% year-on-year.
The company confirmed revenues of the four operating verticals between €1.5 billion and €1.7 billion by the end of Fiscal Year 2028-29, with LEO revenues significantly outperforming the market. Ankündigung • Oct 21
Eutelsat Communications S.A. to Report First Half, 2026 Results on Feb 13, 2026 Eutelsat Communications S.A. announced that they will report first half, 2026 results on Feb 13, 2026 Ankündigung • Oct 16
Eutelsat Communications S.A., Annual General Meeting, Nov 20, 2025 Eutelsat Communications S.A., Annual General Meeting, Nov 20, 2025. Location: 82 rue henri farman, issy les moulineaux France Ankündigung • Sep 30
Eutelsat Communications S.A. Approves Director Appointments Eutelsat Communications S.A. at its Ordinary and Extraordinary General Meeting held on 30 September 2025, ratified the appointment of Mr. Michel Combes as Director of the Company, Mr. Jean-Baptiste Massignon as Director of the Company, subject to the satisfaction of conditions precedent and Mr. Jérémie Gué as Director of the Company, subject to the satisfaction of conditions precedent. Board Change • Sep 10
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 8 new directors. 3 experienced directors. 1 highly experienced director. 4 independent directors (6 non-independent directors). Representative Director Agnes Audier is the most experienced director on the board, commencing their role in 2016. Independent Board Member Lucia Sinapi-Thomas was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Jul 18
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Michel Combes was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Ankündigung • Jun 21
Eutelsat Communications S.A. Confirms Earnings Guidance for the Fiscal Year and 2024-25 and Provides Earnings Guidance for the Fiscal Year 2025-26 Eutelsat Communications S.A. confirmed earnings guidance for the fiscal year and 2024-25 and provided earnings guidance for the fiscal year 2025-26. for the year 2024-25, the company confirms its objectives of Operating Vertical Revenues around the same level as FY'2023-24.
for the year 2025-26, the company targets revenues in line with those of FY'2024-25, notably due to the impact of Russian sanctions in the Video Business. Benefitting from commercial momentum, LEO revenues are expected to grow by 50% year-on-year. Ankündigung • Jun 20
Eutelsat Communications S.A. announced that it expects to receive €716 million in funding from CMA CGM S.A., Bharti Space Limited, Agence des participations de l'Etat, Fonds Stratégique de Participation (FSP) Compartiment Eutelsat Communications S.A announced a private placement to issue 179,000,000 shares at a price of €4 per share for aggregate gross proceeds of €716,000,000 on June 19, 2025. The transaction will include participation from Agence des Participations de l’Etat for €526,400,000, Bharti Space Limited for €31,400,000, CMA CGM for €100,400,000, and Le Fonds Stratégique de Participations for €57,800,000. The transaction has been approved by the Board members of the company and is subject to Shareholders and regulatory approvals. The transaction is expected to close by the end of the calendar year 2025. Board Change • Jun 16
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Michel Combes was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Board Change • May 26
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Michel Combes was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Ankündigung • Apr 08
Eutelsat Communications Announces Resignation of Joo-Yong Hung as Non-Executive Director On April 2, 2025, the Board was informed of the resignation of Hanwha Systems UK Ltd. as non-executive Director of Eutelsat Communications, with immediate effect. The Chairman would like to express its sincere gratitude to Ms. Joo-Yong hung, permanent representative of Hanwha Systems UK Ltd, for her contribution. Reported Earnings • Feb 17
First half 2025 earnings released: €1.84 loss per share (vs €0.53 loss in 1H 2024) First half 2025 results: €1.84 loss per share (further deteriorated from €0.53 loss in 1H 2024). Revenue: €606.2m (up 5.9% from 1H 2024). Net loss: €873.2m (loss widened 357% from 1H 2024). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Ankündigung • Oct 30
Eutelsat Group Provides Earnings Guidance for the Year 2025 Eutelsat Group provided earnings guidance for the year 2025. For the year, the company expects Combined Fiscal Year 2025 Revenues of the four operating verticals around the same level as Fiscal Year 2024. Reported Earnings • Oct 18
Full year 2024 earnings released: €0.74 loss per share (vs €1.27 profit in FY 2023) Full year 2024 results: €0.74 loss per share (down from €1.27 profit in FY 2023). Revenue: €1.21b (up 7.2% from FY 2023). Net loss: €309.9m (down 198% from profit in FY 2023). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Ankündigung • Oct 18
Eutelsat Group, Annual General Meeting, Nov 21, 2024 Eutelsat Group, Annual General Meeting, Nov 21, 2024. Location: la tour accor sequana, 82 rue henri farman, issy les moulineaux France Reported Earnings • Aug 11
Full year 2024 earnings released: €0.74 loss per share (vs €1.27 profit in FY 2023) Full year 2024 results: €0.74 loss per share (down from €1.27 profit in FY 2023). Revenue: €1.21b (up 7.2% from FY 2023). Net loss: €309.9m (down 198% from profit in FY 2023). Revenue is forecast to grow 8.0% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Ankündigung • Aug 09
Eutelsat Group to Report First Half, 2025 Results on Feb 14, 2025 Eutelsat Group announced that they will report first half, 2025 results on Feb 14, 2025 New Risk • Mar 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 23% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Minor Risks High level of debt (90% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (6.3% net profit margin). Ankündigung • Mar 06
Eutelsat Communications SA Announces Directorate Changes Eutelsat Communications SA announced that Mr. Dong Wan Yoo resigned as a Non-Executive Director from the Board of Directors on 29 February 2024. Hanwha Systems UK Ltd, represented by Ms. Joo-Yong Chung, was co-opted to replace Mr. . Dong Wan Yoo as a Non-Executive Director of Eutelsat Communications SA with effect from 29 February 2024. Ms. Joo-Yong Chung currently holds the position of Executive Vice President and Head of M&A at Hanwha Aerospace. As a result, the Board is now composed of 15 Board Members, with 60% female members and 67% independent members. Reported Earnings • Feb 20
First half 2024 earnings released First half 2024 results: Revenue: €572.6m (flat on 1H 2023). Net loss: €191.3m (down 469% from profit in 1H 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Media industry in the United Kingdom. Ankündigung • Feb 02
Eutelsat Group Confirms End of Operations on EUTELSAT 113 West A Satellite Eutelsat Group confirms that following an anomaly on its EUTELSAT 113 West A satellite which occurred on 31st January, it has ceased operations on the satellite. Launched in 2006 and operating in inclined orbit at the 113° West position, EUTELSAT 113 West A (ex-Satmex 6) provided coverage of the Americas in C- and Ku-bands serving customers in video, data, and Government services on 18 operational transponders. Mitigation actions are underway to minimize the disruption to customers impacted, including accelerated transfer to alternative capacity on satellites located at the 115° and 117° West positions. Eutelsat teams are deploying all possible efforts to mitigate the potential adverse consequences on orbital safety. Eutelsat reaffirms its commitment to a safe and sustainable space environment. Approaching its end-of-life, the satellite is no longer part of the In Orbit Insurance policy. Before mitigation, the mechanical impact on revenues of the non-availability of the satellite is circa €3m in FY24 and €5-6m per annum for the period FY25-28. It does not alter financial objectives for Fiscal Year 2024. New Risk • Jan 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 8.3% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Minor Risks High level of debt (80% net debt to equity). Large one-off items impacting financial results. Ankündigung • Jan 29
Eutelsat Group Provides Earnings Guidance for the for Fiscal Year 2023-24 Eutelsat Group provided earnings guidance for the for fiscal year 2023-24. For the period, revenues are now expected in a range of €1.25 billion to €1.3 billion (versus €1.32bn to €1.42bn previously). Ankündigung • Dec 09
Eutelsat Group to Report Fiscal Year 2024 Results on Aug 02, 2024 Eutelsat Group announced that they will report fiscal year 2024 results Pre-Market on Aug 02, 2024 New Risk • Oct 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 106% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 56% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Minor Risks High level of debt (80% net debt to equity). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €4.74, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Media industry in the United Kingdom. Total loss to shareholders of 25% over the past three years. Reported Earnings • Sep 17
Full year 2023 earnings released: EPS: €1.27 (vs €1.00 in FY 2022) Full year 2023 results: EPS: €1.27 (up from €1.00 in FY 2022). Revenue: €1.13b (down 1.8% from FY 2022). Net income: €314.9m (up 36% from FY 2022). Profit margin: 28% (up from 20% in FY 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 15% per year. Ankündigung • Sep 15
Eutelsat Communications and NationalChip Deliver Ground-Breaking Sat.tv Features on Popular Set-Top Box Chipset Eutelsat Communications and NationalChip are bringing an enhanced Free-To-Air satellite TV viewing experience to millions of homes around the world, due to the integration of the Sat.tv services in a chipset that is widely used in set-top boxes around the world. Over 1000 Free-to-Air TV channels broadcast by Eutelsat are viewed by 120 million homes in Europe, the Middle East and Africa. And while the content offer has grown massively, it can be challenging both for broadcasters to target new audiences, and for viewers to find new content. To meet this demand, Eutelsat developed Sat.tv, an electronic program guide for Free-to-Air TV channel. The Sat.tv service delivers a uni-directional flow of information about free TV channels via satellite, to set-top boxes containing a Sat.tv-compatible chipset, giving users a more visual display of available content, including logos, channel line-ups and programme information. To make this enhanced TV viewing experience available on some of the most cost-effective set-top boxes in the market, NationalChip has integrated the Sat.tv functional specifications defined by Eutelsat, into the GX6605S chip. With over 100 million units shipped worldwide, this is the most popular chipset used in set-top boxes in the Middle East and North Africa region. Eutelsat will be demonstrating the wide range of new mass market Sat.tv enabled satellite receivers at the IBC Show in Amsterdam, 15-18 September, on stand 1.D59. Sat.tv is a free TV channel and programme guide. Powered by Eutelsat, it gives viewers access to the wide range of television channels broadcast free-to-air via its orbital positions. Channels are organisedically according to the country or language selected and easily identifiable by their logos and genres. Users can browse the detailed programme guide for the next 7 days and intuitively search for content by genre with the ability to easily schedule recordings or set alerts. These features, a world-first for free-to-air satellite TV reception, are now available on a growing range of new compatible receivers, without the need for an Internet connection. These can be identified by the Sat.tv logo on the receiver's packaging and/or front panel. Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Florence Parly was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 37% per year for the foreseeable future. Minor Risks High level of debt (80% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.9% increase in shares outstanding). New Risk • Jul 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risks High level of debt (80% net debt to equity). Dividend is not well covered by earnings (191% payout ratio). Shareholders have been diluted in the past year (7.9% increase in shares outstanding). Ankündigung • Jul 29
Eutelsat Communications S.A. to Report First Half, 2024 Results on Feb 16, 2024 Eutelsat Communications S.A. announced that they will report first half, 2024 results on Feb 16, 2024 Reported Earnings • Jul 29
Full year 2023 earnings released: EPS: €1.27 (vs €1.00 in FY 2022) Full year 2023 results: EPS: €1.27 (up from €1.00 in FY 2022). Revenue: €1.13b (down 1.8% from FY 2022). Net income: €314.9m (up 36% from FY 2022). Profit margin: 28% (up from 20% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 10% per year. Ankündigung • Jun 17
An unknown buyer signed an agreement to acquire Bigblu Operations Limited/European broadband retail activities from Eutelsat Communications S.A. (ENXTPA:ETL). An unknown buyer signed an agreement to acquire European broadband retail activities and Bigblu Operations Limited/ from Eutelsat Communications S.A. (ENXTPA:ETL) on June 15, 2023. Ankündigung • May 11
Eutelsat Communications S.A. Provides Financial Guidance for the Full Year 2023 Eutelsat Communications S.A. provided financial guidance for the full year 2023. On the back of the performance of the first Nine Months, the company confirmed it's objective for the Full Year of Operating Vertical Revenues of between EUR 1,135- EUR 1,165 million (based on a EUR/USD rate of 1.00). Reported Earnings • Feb 18
First half 2023 earnings released First half 2023 results: Revenue: €573.8m (flat on 1H 2022). Net income: €51.9m (down 69% from 1H 2022). Profit margin: 9.0% (down from 29% in 1H 2022). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Media industry in the United Kingdom. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €8.06, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 16x in the Media industry in the United Kingdom. Total loss to shareholders of 30% over the past three years. Upcoming Dividend • Nov 10
Upcoming dividend of €0.93 per share Eligible shareholders must have bought the stock before 17 November 2022. Payment date: 16 December 2022. Payout ratio is on the higher end at 93%, however this is supported by cash flows. Trailing yield: 9.6%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improved over the past week After last week's 17% share price gain to €10.17, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 18x in the Media industry in the United Kingdom. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €7.48, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 18x in the Media industry in the United Kingdom. Total loss to shareholders of 43% over the past three years. Reported Earnings • Jul 28
Full year 2022 earnings released: EPS: €1.00 (vs €0.93 in FY 2021) Full year 2022 results: EPS: €1.00 (up from €0.93 in FY 2021). Revenue: €1.15b (down 6.7% from FY 2021). Net income: €230.8m (up 7.8% from FY 2021). Profit margin: 20% (up from 17% in FY 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 1.6%, compared to a 9.9% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Ankündigung • Jul 26
Eutelsat Communications S.A. to Report First Half, 2023 Results on Feb 17, 2023 Eutelsat Communications S.A. announced that they will report first half, 2023 results on Feb 17, 2023 Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment deteriorated over the past week After last week's 20% share price decline to €8.62, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 20x in the Media industry in the United Kingdom. Total loss to shareholders of 37% over the past three years. Reported Earnings • Feb 18
First half 2022 earnings: Revenues in line with analyst expectations First half 2022 results: Revenue: €572.2m (down 9.0% from 1H 2021). Net income: €166.0m (up 21% from 1H 2021). Profit margin: 29% (up from 22% in 1H 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 3.1% compared to a 12% growth forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €11.31, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 34x in the Media industry in the United Kingdom. Total loss to shareholders of 16% over the past three years. Upcoming Dividend • Nov 09
Upcoming dividend of €0.93 per share Eligible shareholders must have bought the stock before 16 November 2021. Payment date: 18 November 2021. Trailing yield: 7.3%. Within top quartile of British dividend payers (4.1%). Higher than average of industry peers (1.9%). Reported Earnings • Oct 20
Full year 2021 earnings released: EPS €0.93 (vs €1.28 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €1.23b (down 3.5% from FY 2020). Net income: €214.1m (down 28% from FY 2020). Profit margin: 17% (down from 23% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 18% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improved over the past week After last week's 20% share price gain to €11.96, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 30x in the Media industry in the United Kingdom. Total loss to shareholders of 28% over the past three years. Reported Earnings • Jul 31
Full year 2021 earnings released: EPS €0.93 (vs €1.28 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: €1.23b (down 3.5% from FY 2020). Net income: €214.1m (down 28% from FY 2020). Profit margin: 17% (down from 23% in FY 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 16
First half 2021 earnings released: EPS €0.60 (vs €0.60 in 1H 2020) The company reported a poor first half result with weaker earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: €628.5m (down 1.3% from 1H 2020). Net income: €137.4m (down 2.3% from 1H 2020). Profit margin: 22% (in line with 1H 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 14
Revenue beats expectations Revenue exceeded analyst estimates by 1.6%. Over the next year, revenue is forecast to decline by -5.9% while the Media industry in the United Kingdom is not expected to grow. Is New 90 Day High Low • Feb 13
New 90-day high: €10.33 The company is up 6.0% from its price of €9.70 on 13 November 2020. The British market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €18.94 per share. Upcoming Dividend • Nov 13
Upcoming Dividend of €0.89 Per Share Will be paid on the 24th of November to those who are registered shareholders by the 20th of November. The trailing yield of 9.2% is in the top quartile of British dividend payers (5.0%), and it is higher than industry peers (2.5%). Is New 90 Day High Low • Nov 11
New 90-day high: €9.53 The company is up 7.0% from its price of €8.93 on 12 August 2020. The British market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €16.77 per share. Reported Earnings • Oct 14
Full year earnings released - EPS €1.28 Over the last 12 months the company has reported total profits of €297.6m, down 13% from the prior year. Total revenue was €1.28b over the last 12 months, down 3.2% from the prior year. Profit margins were 23%, which is lower than the 26% margin from last year. The decrease in margin was driven by lower revenue. Analyst Estimate Surprise Post Earnings • Oct 14
Annual earnings released: Revenue beats expectations Annual revenue exceeded analyst estimates by 1.2% at €1.28b. Revenue is forecast to decline by -5.5% over the next year, while the growth in Media industry in the United Kingdom is expected to stay flat. 
