Editor ©RapidTVNews | 29-07-2011
In what the satellite service provider calls an excellent year, Eutelsat Communications has announced 11.5% growth in revenues to €1.1681 billion for its financial year ended 30 June 2011.
Such revenues drove a similar growth, 11.9%, in EBITDA to €926.4 million and the group share of net income increased 25.6% to € 338.5 million. Furthermore It has a backlog close to € 5 billion, representing more than 4 years of revenues.
Looking forward, and doing so bullishly, Eutelsat says that it will begin an investment programme stepped up to capture growth in dynamic markets. Revenue for the 2011-2012 financial year is expected to be above € 1.235 billion, with growth accelerating in the subsequent two years for a CAGR above 7% for the three year period ending 30 June 2014. EBITDA expected to go past €955 million in the next financial year with EBITDA margin target confirmed above 77% for each of the next three fiscal years.
Commenting on the full year 2010-2011 results, and what this means for future business, Michel de Rosen, CEO of Eutelsat Communications, said: "We are extremely pleased to deliver a second consecutive year of double-digit growth. Expansion capacity launched over the past two years has positioned Eutelsat to capture growth across all of the geographies covered by the fleet and across all activities. This performance is even more remarkable since the satellite fleet operated for much of the year at a fill rate above 90%. “
Looking forward, two additional satellites are on track for launch in the September to October 2011 timeframe to reinforce the company’s Ku-band capacity but most significantly, the company will open a new orbital position at 3°East to drive expansion in high growth markets.
Eutelsat has commissioned Astrium to build a tri-band satellite, which will increase and diversify its resources for markets in Africa, the Middle East, Central Asia and South America. Called Eutelsat 3B, to be launched in early 2014, the satellite will operate C, Ka and Ku-band frequencies with a Ku-band payload of up to 30 transponders addressing, among other industries, video contribution.