Investor Presentaiton
FINANCIAL OUTLOOK: DFCF OBJECTIVES CONFIRMED
OPERATING VERTICALS
REVENUES¹
CASH CAPEX
ADJUSTED
DISCRETIONARY
Between €1,110 to €1,130m in FY 2021-221
Material improvement in trend in FY 2022-23
Mechanically adjusted for growth assets delays
Growth in FY 2023-24
► Not exceeding €400m² per annum for each
of the next three fiscal years (FY 2021-22/
FY 2022-23 / FY 2023-24)
► Between €400m and €430m in FY 2021-223
FREE CASH-FLOW³ ► Growth in FY 2022-23 and in FY 2023-24
Maintain solicited investment grade ratings
LEVERAGE
► Medium-term net debt / EBITDA ratio of c. 3x
DISTRIBUTION
► Stable to progressive dividend policy
EUTELSAT
1
Based on a €/$ rate assumption of 1.20 and current perimeter.
2 Including capital expenditure and payments under existing export credit facilities and other bank facilities financing investments as well as payments related to lease liabilities.
3 Based on a €/$ rate assumption of 1.20 and current perimeter.
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