Full Year 2021 Eutelsat Communications SA Earnings Call Transcript
Good day, and welcome to the Eutelsat Full Year 2021 Results Conference Call and Webcast. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Rodolphe Belmer, CEO. Please go ahead, sir.
Welcome, and thank you for joining us today at our full year 2020/2021 results presentation. I am Rodolphe Belmer, CEO. And I'm joined on today's call by Michel Azibert, our Deputy CEO; and Sandrine Téran, CFO.
Let's start by taking a look at the highlights of the year. Operating verticals revenues were at the top end of our range of objectives, which were upgraded twice during the year. Despite a tough external context related to the COVID crisis, we delivered a robust financial performance, including industry-leading profitability, a record level of cash generation and a further reduction in net debt.
On the commercial front, the strong performance resulted in a growing backlog, representing 3.5 years of revenues. We made significant headway in
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