Eutelsat Communications - Year 2011-2012 results
30 July 2012
The Board of Directors' of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), met and reviewed its financial results for the year ended June 30, 2012.
Commenting on the full year 2011-2012 results, Michel de Rosen, CEO of Eutelsat Communications, said: "Eutelsat Communications continues to deliver profitable growth, with revenues up 4.6% and the highest EBITDA margin among the largest satellite operators. Our order backlog exceeded €5 billion, equivalent to 4.3 times annual revenues, lending high long-term visibility.
Demand for transponder capacity across our footprint remains strong and we continue to optimise the fleet of current and upcoming satellites in order to capture growth in the video, data and broadband markets in Europe, the Middle East, Africa and Asia. With KA-SAT, the foundations have been laid for a long-term business which is progressively expanding the scope of satellite services and providing a complement to Ku-band capacity.
For the three years to June 2015, we target revenue CAGR of 5% to 6%. Growth in the current year should be from 3% to 4%, pending the availability of two new satellites that are due to launch in the first half of the fiscal year and that will benefit the Data and Multi-usage activities. We remain committed to delivering profitable growth and shareholder value, targeting an EBITDA margin of around 77% in each of the next three years, and upgrading our dividend policy with a payout ratio of 65-75% from the previous floor of 50%."
Twelve months ended June 30
|
|
2011
|
2012
|
Change
|
 |
|
Key elements of the consolidated income statement
|
 |
|
Revenues
|
€m
|
1,168.1
|
1,222.2
|
+4.6%
|
|
EBITDA
|
€m
|
926,4
|
957.2
|
+3.3%
|
|
EBITDA margin
|
%
|
79.3
|
78.3
|
-1ppt
|
|
Group share of net income
|
€m
|
338.5
|
326.1
|
-3.7%
|
|
Diluted earnings per share
|
€
|
1.539
|
1.483
|
-3.7%
|
 |
|
Key elements of the consolidated cash flow statement
|
 |
|
Net cash flows from operating activities
|
€m
|
816.8
|
697.2
|
-14.7%
|
|
Capital expenditure
|
€m
|
485.9
|
487.5
|
+0.3%
|
|
Operating free cash flows(3)
|
€m
|
566.0
|
209.7
|
NM
|
 |
|
Key elements of financial structure
|
 |
|
Net debt
|
€m
|
2,198
|
2,374
|
+8.0%
|
|
Net debt/EBITDA
|
x
|
2.37
|
2.48
|
-
|
 |
|
Backlog
|
 |
| Backlog |
€bn
|
4.96
|
5.24
|
+5.7%
|
