Eutelsat Financial
Report
7 May 2013
Eutelsat Communications
has
published its financial
report for the third
quarter and nine months
ended 31 March 2013
Revenues by business
application:
|
|
3rd
quarter ended March
31
|
Change
|
9 months ended March
31
|
Change
|
|
In millions of
euros
|
2012
|
2013
|
In %
|
2012
|
2013
|
In %
|
|
Video
Applications
|
211.0
|
216.4
|
+2.6
|
614.3
|
647.1
|
+5.3
|
|
Data &
Value-Added Services
|
57.9
|
60.8
|
+4.9
|
175.7
|
185.6
|
+5.6
|
|
Multi-usage
|
37.0
|
35.4
|
-4.4
|
111.4
|
108.1
|
-3.0
|
|
Other revenues
|
2.8
|
2.6
|
-8.0
|
6.1
|
8.0
|
+30.0
|
|
Subtotal
|
308.7
|
315.1
|
+2.1
|
907.7
|
948.8
|
+4.5
|
|
Non-recurring
revenues
|
-
|
7.7
|
NM
|
3.5
|
7.7
|
NM
|
|
Total
|
308.7
|
322.9
|
+4.6
|
911.2
|
956.5
|
+5.0
|
Commenting on the Group’s
third quarter 2012-2013
revenues, Michel de Rosen,
CEO of Eutelsat
Communications, said:
“Third
quarter revenues were up
4.6%. The performance of
Video, our main business,
accounting for almost 70% of
revenues, was underpinned
by sustained demand at key
neighbourhoods over Europe,
Africa, and the Middle East.
Multi-usage revenues
reflected the impact of US
federal budget sequestration
which significantly affected
the outcome of contract
negotiations during the
quarter. This was partially
offset by the integration of
EUTELSAT 172A into the
fleet.
The record order backlog of
€5.5 billion was buoyed in
particular by new long-term
video contracts in North
Africa and the Middle East,
lending strong visibility on
future revenues. We are
pursuing our programme to
deploy capacity on seven
additional satellites by end
2015 to enable us to meet
demand in the highest growth
applications and regions,
with the first, EUTELSAT 3D,
on track for launch on May
14.
Our revenue objective for
Full Year 2012-2013 is
maintained, with a likely
outturn at the lower end of
the 5-6% range.
Notwithstanding the current
investment in our overall
commercial activity, the
Group’s EBITDA margin is now
expected to be around
77.5%."
YEAR-TO-DATE REVENUES (9
months ending 31 March
2013) AND OUTLOOK
Revenues for the first nine
months of 2012-2013 amounted
to €956.5 million, up 5.0%
(+3.5% at constant currency)
compared to the same period
of the previous fiscal year.
The full year 2012-2013
reported revenue growth
objective of 5 to 6% is
confirmed. It is expected to
come in at the lower end of
the range. Notwithstanding
the ongoing investment in
the overall commercial
activity, the Group refines
its EBITDA margin objective
for the current year, which
is now expected at around
77.5%, from around 77%
earlier.
For the medium-term, the
Group confirms positive
trends for its leading
business of video, which
will benefit from new
satellites to be launched by
end 2015. However, the
current challenges in Data
services and Multi-usage
could have an impact on the
Group’s revenue prospects.
This impact would however be
limited, at around one
percentage point of revenue
growth. The Group will
discuss its medium-term
outlook on the occasion of
its Full Year results, on 30
July 2013.
|
