Eutelsat Communications First Half 2012-2013 Results In Line With Targets
PARIS, February 7, 2013 /PRNewswire/ --
Note: This press release contains unaudited condensed consolidated half-year accounts prepared under IFRS which was reviewed by the Audit Committee 5 February 2013 and approved by the Board of Directors of Eutelsat Communications on 7 February 2013.
- Revenue growth: +5.2% at €633.6 million, including EUTELSAT 172A; +3.3% at constant currency
- EBITDA  up 4.9% to €501.9 million; industry-leading EBITDA margin of 79.2%
- Group share of net income up 13.9% to €178.5 million; net margin at 28.2%
- Excellent visibility: record backlog of €5.4 billion
- Fleet expansion programme on track with successful launches of EUTELSAT 21B, EUTELSAT 70B and integration of EUTELSAT 172A
- Current and three year targets confirmed
The Board of Directors of Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL) approved the financial results for the half-year ended 31 December 2012.
Six months ended 31 December 2011 2012 Change Key elements of consolidated income statement Revenues EURm 602.4 633.6 +5.2% EBITDA EURm 478.5 501.9 +4.9% EBITDA margin 79.4% 79.2% -0.2pt Group share of net income EURm 156.8 178.5 +13.9% Diluted earnings per share EUR 0.713 0.813 +13.9% Key elements of consolidated statement of cash flows Net cash flows from operating activities EURm 333.2 406.8 +22.1% Capital expenditure EURm 241.8 388.7 +60.7% Operating free cash flows EURm 91.4 18.1 -80.2% Key elements of financial structure Net debt EURm 2,379.6 2,612.9 +9.8% Net debt/EBITDA X 2.53 2.66 Backlog Backlog EURbn 5.3 5.4 +0.5%
Commenting on the half year 2012-2013 results, Michel de Rosen, CEO of Eutelsat Communications, said: " We are pleased to report robust results for first half 2012-2013 , with revenue growth of over 5% and an EBITDA margin exceeding 79% . The record bac klog of €5.4 billion underscores our long term visibility on revenues and cash flows.Two new satellites, EUTELSAT 21B and EUTELSAT 70B were successfully launched in the first half and recently entered into service, and the recently acquired EUTELSAT 172A was smoothly integrated into the fleet. These three advances mark another milestone in the Group's expansion programme that will lead to an increase of in-orbit resources by more than 30% in the three-year period from June 2012 to June 2015. At the half year point, Eutelsat remains fully on track to meet its current year and mid-term targets of top-line growth of 5 to 6% for the current fiscal year and a CAGR of 6 to 7% for the three years to June 2015, and an EBITDA margin of around 77%." --------------------------------------------------
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