Full Year 2024 Eutelsat Communications SA Earnings Call Transcript
Key Points
- Eutelsat Communications (ETCMY) reported total revenues of €1.213 billion, up by 7.2% on a reported basis and 5.6% on a like-for-like basis.
- The company successfully closed the Eutelsat-OneWeb combination, creating the first true GEO-LEO integrated player.
- Strong commercial traction with major multi-application contracts, including a seven-year deal with Intelsat and multi-year contracts with Viasat and Yahsat.
- The backlog increased to €3.9 billion, up 15% from the previous year, reflecting strong commercial momentum.
- Successful refinancing of the November '25 bond, enhancing financial stability.
- Adjusted EBITDA decreased by 12.9% to €719 million, reflecting higher operating costs due to the consolidation of OneWeb.
- Net debt to adjusted EBITDA ratio increased to 3.79 times from 3.35 times the previous year.
- Video revenues, which represent 54% of total revenues, declined by 6.8%, reflecting a secular market decline.
- Group share of net income turned negative at €310 million compared to a positive €315 million the previous year.
- Delays in the rollout of ground infrastructure and regulatory approvals in key markets like India and Thailand are impacting revenue growth.
Hello and welcome to the Eutelsat Full Year 2023-2024 Results. My name is Caroline and I'll be your coordinator for today's event. Please note this call is being recorded, and for the duration of the call, your lines will be on listen-only mode. (Operator Instructions)
I will now hand over the call to your host, Eva Berneke, the CEO, to begin today's conference. Thank you.
Good morning, everybody. Welcome and thank you for joining us to Eutelsat's full-year results. My name is Eva Berneke. I'm the CEO of Eutelsat. I'm joined by Christophe Caudrelier, our CFO, and on bonus, you get our IR team with Hugo and Joanna also in the room.
We are today announcing our results and I will run through the key events of the past year, both our operational and financial performance. Christophe will help with some of the details there and then we'll come back to the outlook and objectives for '24-'25.
Turning first to the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
