Full Year 2019 Eutelsat Communications SA Earnings Call Transcript
Good day. And welcome to the Eutelsat's Full Year 2018-2019 Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Rodolphe Belmer, Chief Executive officer. Please go ahead, sir.
Welcome. And thank you for joining us today for our full year results presentation. I'm Rodolphe Belmer, the CEO. And I'm joined on today's call by Michel Azibert, Deputy CEO; Yohann Leroy, Deputy CEO and Chief Technical Officer; and Sandrine Téran, CFO.
Let's start by taking a quick look at the highlights for the full year. First, with the exception of revenues, all of our financial objectives were either met or exceeded. In terms of revenues, actually the fourth quarter saw a return to slight sequential growth for the operating vertical. At the financial level, we continued to deploy all levers to maximize cash generation. Discretionary free cash flow was up by around 10% on top of 12% growth last year, which implies that we have already
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