Eutelsat - OneWeb Combination Update
HIGHLIGHTS
▸ EUTELSAT
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FY 2022-23 Operating Vertical revenues of €1,136 million, or
€1,157m (€/$ rate of 1.00), at the upper end of expected range, with
sustained positive momentum in Mobile Connectivity
Robust financial performance including industry-leading profitability
with an Adjusted EBITDA margin of 73%¹
Adjusted Discretionary Free Cash-Flow of €518m, comfortably
within our expected range
$382m proceeds related to Phase II of the C-Band transition
recognized in late June 2023. Cash expected in Q1 FY 2023-24
Operational successes, with recent entry into service of 3 satellites
incl. E10B, paving the way for return to growth and ensuring
seamless service for existing customers
Updated financial objectives: confirmed return to growth from FY
2023-24 onwards and strong cashflow generation
Strong foundations to ensure the success of the proposed Eutelsat-
OneWeb combination. EGM to approve the transaction expected in
late September 2023
As of 30 June, 2023, EBITDA will evolve to Adjusted EBITDA with no change in calculation.
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