Updated Revenue Objectives and Growth Capacity
NET INCOME
Extracts from the
consolidated income
statement in €m¹
H1
2020-21
H1
2021-22
CHANGE
Revenues
629
572
-9.0%
EBITDA2
484
436
-10.0%
Operating
income
216
276
+27.8%
Financial result
(47)
(35)
-27.0%
Lower D&A reflecting notably KA-SAT disposal and end
of depreciation period of certain assets
► Other operating income including phase 1 of C-band
proceeds partly offset by asset impairments
Favourable evolution of FX gains and losses
Tax rate of 24% vs 15% last year
Income tax
(25)
(57)
+128.5%
30% tax rate applied to C-band proceeds
Group share
137
166
+20.8%
of net income
-€13m income from associates reflecting OneWeb
Net margin of 29% versus 22% last year
1 The comparative financial statements as of 31 December 2020 have been restated with respect to the CVAE, which has been reclassified from "Selling, general and administrative
expenses" to "Corporate income tax" for an amount of 2.1 million euros in order to align the presentation with the consolidated financial statements as of 31 December 2021.
Figures are rounded to closest million;
EUTELSAT 2 EBITDA defined as operating income before depreciation, amortization, impairments and other operating income/(expenses)
46View entire presentation