New Risk • May 31
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 148% 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 Shares are highly illiquid. Shareholders have been substantially diluted in the past year (148% increase in shares outstanding). Announcement • 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. Announcement • 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 Announcement • 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 Announcement • 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. Announcement • 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. Announcement • 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). Announcement • 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 Announcement • 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. Announcement • 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 Announcement • 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. Announcement • 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 8.4% growth forecast for the Media industry in South America. Announcement • Nov 25
Eutelsat Communications S.A. Appoints Christophe Caudrelier as Chief Financial Officer Eutelsat Communications announced the appointment of Christophe Caudrelier as Chief Financial Officer, effective at the latest on 2nd January 2023. Christophe Caudrelier brings a wealth of experience as CFO from his 30-year career in global industries where operational excellence and long-term investments are key to successfully addressing the evolving customer expectations. His appointment follows the announcement by Sandrine Téran that she is stepping down as Chief Financial Officer to move on to other professional projects. Christophe joins Eutelsat from Tikehau Ace Capital Partners where he served as Operating Partner - Finance. Tikehau Ace Capital Partners, a subsidiary of Tikehau Capital, is a private equity firm specialised in strategic industries and technologies with more than 1 billion euros in assets under management with a vertical approach to strategic industries and technologies (e.g. aerospace, defence, cybersecurity). Before joining Tikehau Ace Capital, Christophe, who started his career as an external auditor with Arthur Andersen, spent 17 years at Valeo where he held various positions in the US, Turkey, and the UK, including CFO of the Powertrain Systems Business Group before joining Naval Group as Group CFO in 2011. In 2015, he was appointed as CFO of the Bénéteau Group, and later COO in charge of finance and operational excellence. Christophe is a graduate of the Ecole Supérieure des Hautes Etudes Commerciales (ESCP) Europe. Announcement • Nov 23
Eutelsat Communications Launches EUTELSAT 10B Satellite Eutelsat Communications announced that the EUTELSAT 10B satellite was successfully launched into Geostationary Transfer Orbit by American space launch provider SpaceX using a Falcon 9 expendable rocket that lifted off from Cape Canaveral, Florida, USA at 21.57 pm Eastern time on November 22nd (corresponding to 2.57 am UTC and 3.57 am CET on November 23rd). The separation of the all-electric satellite occurred after a 37-minute flight and the spacecraft systems checkout was then successfully completed over a period of approximately 3 hours. Built by Thales Alenia Space, EUTELSAT 10B is an all-electric satellite based on the Spacebus NEO platform. The satellite embarks a powerful 5th generation digital transparent processor, offering capacity allocation flexibility and an optimal spectrum use. Responding to strong growth in demand for mobile connectivity, EUTELSAT 10B is carrying two multi-beam HTS Ku-band payloads: a high-capacity payload, covering the North Atlantic corridor, Europe, the Mediterranean basin and the Middle East, offering significant throughput in the busiest air and sea traffic zones, and a second payload to extend coverage across the Atlantic Ocean, Africa and the Indian Ocean. The satellite’s HTS payloads will be able to process more than 50 GHz of bandwidth, offering a throughput of approximately 35 Gbps. Firm multi-year capacity commitments have already been secured with several leading in-flight connectivity service providers, representing more than one third of the incremental HTS capacity. These partners will rely on EUTELSAT 10B to provide airlines with in-flight connectivity services. The 10° East location that EUTELSAT 10B will occupy has been operated by Eutelsat since 1987 and provides unrivalled coverage in the heart of the European, Middle Eastern and African regions. The EUTELSAT 10B satellite specifically carries two widebeam payloads in C-band and in Ku-band to ensure continuity of the missions of the EUTELSAT 10A satellite, whose operational life is scheduled to end in 2023. 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 Mexican dividend payers (6.5%). Higher than average of industry peers (4.1%). Announcement • Oct 26
Eutelsat Communications S.A. Announces Executive Changes Eutelsat Communications S.A. announced executive committee is set to change as of 12 December 2022. The Company Secretary and Group General Counsel, Julie Burguburu, will step down and be succeeded by David Bertolotti. David Bertolotti has held the position of Director of Institutional and International Affairs at Eutelsat since 2020. He will succeed Julie Burguburu by joining the Group's Executive Committee and serving as Company Secretary, where, in addition to his responsibilities for public and international affairs, he will be in charge of the Group's legal department, corporate governance, compliance and external communications as well as risk and safety management. Graduate of the French Ecole Nationale d'Administration (ENA, class of René Cassin) and of the Paris Institute of Political Studies (IEP), David served for 17 years as a diplomat with the French Ministry of Europe and Foreign Affairs, he also has been ambassador to Jordan. His areas of expertise include political-military issues, notably in the nuclear field, and the Middle East region. Announcement • Oct 13
Eutelsat Communications S.A. Provides Revenue Guidance for the Financial Year Ending June 2023 Eutelsat Communications S.A. provided revenue guidance for the financial year June 2023. For the period, the company expects revenue of EUR 50 million. Announcement • Sep 08
Eutelsat Communications S.A. Announces Successful Launch of New-Generation EUTELSAT KONNECT VHTS Satellite Eutelsat Communications S.A. announced that EUTELSAT KONNECT VHVHTS satellite was successfully launched into Geostationary Transfer Orbit by Arianespace using an Ariane 5 rocket that lifted off from the Guiana Space Centre in Kourou, French Guiana, at 9.45 pm Universal Time (11.45 pm CET) on Wednesday 7 September. The separation of the all-electric satellite occurred after a 28-minute flight and the spacecraft systems checkout was successfully completed over a period of 3 hours. EUTELSAT KONNECT VHTS, a very high throughput satellite built by Thales Alenia Space, will provide fixed broadband and mobile connectivity across Europe, North Africa and the Middle East. Delivering 230 beams over Western Europe and with a Ka-band capacity of 500 Gbps, EUTELSAT KONNECT VHTS is the large geostationary satellite ever ordered to date in Europe. It has embarked the most powerful 5(th) generation digital transparent processor, offering capacity allocation flexibility and an optimal spectrum use. This satellite, offering a capacity seven times that of its parent satellite EUTELSAT KONNECT launched in 2020, comes with several major firmly committed customers for satellite broadband connectivity, namely Orange via its Nordnet affiliate for the French coverage, Telecom Italia Mobile over Italy and Thales Alenia Space to serve notably the government connectivity services. These commitments testify to the ability of geostationary satellites to provide an attractive solution for bridging the digital divide, at a time when access to connectivity plays a crucial role in both economic and social development. Announcement • Sep 02
Eutelsat Communications S.A. Announces Step Down of Sandrine Téran as Chief Financial Officer The Chief Financial Officer of Eutelsat Communications has announced her decision to step down by the end of November in order to pursue other professional endeavours. Sandrine Téran has been the Group’s CFO and a member of the Executive Committee since January 2017. During that time, she has implemented a strategy of financial discipline that has allowed to maximise cashflow generation and has enabled the company to seize new opportunities. The recruitment process of a successor has already started. In the meantime, Sandrine will remain fully incharge. 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 5.4% decline forecast for the industry in Mexico. Announcement • Jul 27
Eutelsat Communications S.A. (ENXTPA:ETL) signed a Memorandum of Understanding to acquire remaining 74.87% stake in OneWeb for €2 billion. Eutelsat Communications S.A. (ENXTPA:ETL) signed a Memorandum of Understanding to acquire remaining 74.87% stake in OneWeb for €2 billion on July 26, 2022. The transaction would be structured as an exchange of OneWeb shares for newly issued Eutelsat shares. This excludes the ‘Special Share’ in OneWeb which is retained by the UK Government together with the existing rights associated therewith. Under the terms of the acquisition, OneWeb shareholders would receive 230 million newly issued Eutelsat shares representing 50% of the enlarged share capital. The transaction values OneWeb at €3.3 billion ($3.4 billion) implying a value of €12 per Eutelsat share (including the dividend, before synergies). Trading under its existing name, OneWeb will continue to operate the LEO business, with OneWeb’s headquarters remaining in the UK. Dominique D’Hinnin, Eutelsat’s Chairman would be proposed as Chairman of the combined entity and Sunil Bharti Mittal as Co-Chairman (Vice-Président). Eva Berneke would continue as Chief Executive Officer of the combined entity.
The Memorandum of Understanding has been unanimously approved by each of Eutelsat’s and OneWeb’s Board of Directors. The transaction will be subject to clearance from relevant regulatory authorities. The transaction will also be conditional on approval by Eutelsat’s shareholders at an Extraordinary General Meeting (EGM) of Eutelsat, to take place by end of first half 2023. The transaction is expected to close by the end of first half of 2023. d'Angelin & Co. Ltd., Perella Weinberg Partners and Rothschild & Co acted as financial advisors while Weil Gotshal & Manges (Paris and London) acted as legal advisors to Eutelsat. Barclays acted as financial advisor while Herbert Smith Freehills LLP acted as legal advisor for all aspects of this transaction to OneWeb. 
