EUTELSAT COMMUNS SA S/ADR - ETCMY STOCK NEWS

The Board of Directors of Eutelsat Communications has approved the combination with OneWeb, as announced on 26 July 2022. The final agreement was signed on November 14 between Eutelsat and OneWeb's main shareholders, including Bharti and the UK Government. The transaction awaits regulatory approvals, with a shareholder meeting now anticipated in Q2 or Q3 2023. Post-combination, the board will comprise 15 directors, with an increase in independent directors to 67%. Eutelsat emphasizes that this development will not significantly impact the combined entity's financial outlook.

The Ordinary and Extraordinary Annual General Meeting of Shareholders of Eutelsat Communications (Euronext Paris: ETL) was held in Paris, approving all submitted resolutions. Key outcomes include a dividend of €0.93 per share for FY 2021-22, unchanged from the previous year, payable on December 16, 2022, either in cash or newly-issued shares at €7.27. The meeting also ratified the appointment of Directors, ensuring the Board consists of 10 members, with 50% being women and 70% independent.

Eutelsat Communications has partnered with Tizeti, a leading solar-based internet service provider in West Africa, to enhance broadband access in Nigeria, particularly in underserved areas. Announced at AfricaCom 2022, the partnership will utilize Eutelsat's KA-band satellite connectivity, Konnect, to deliver affordable internet services. Despite Nigeria's 44.5% broadband penetration, many regions still lack reliable connectivity. Eutelsat aims to connect one million unserved people in sub-Saharan Africa within five years, unlocking opportunities for socio-economic growth.

Eutelsat Communications announced the successful launch of the EUTELSAT HOTBIRD 13G satellite aboard a SpaceX Falcon 9 rocket from Cape Canaveral on November 3. This satellite enhances Eutelsat's capabilities at the 13-degree East position, replacing three older satellites with two, which optimizes capital expenditure. It will serve over a thousand TV channels across Europe, Northern Africa, and the Middle East. Additionally, it hosts the EGNOS GEO-4 payload for the EUSPA, improving navigation system reliability, especially in aviation.

Eutelsat Communications has announced a change in its Executive Committee effective December 12. Julie Burguburu, the Company Secretary and Group General Counsel, will step down and be succeeded by David Bertolotti, currently Director of Institutional and International Affairs. CEO Eva Berneke praised Burguburu for her contributions, particularly in negotiating the reassignment of the C-band spectrum in the United States. Bertolotti brings extensive experience in public affairs and governance and is expected to bolster Eutelsat's strategic initiatives.

Eutelsat Communications announced the successful launch of the EUTELSAT HOTBIRD 13F satellite into Geostationary Transfer Orbit on October 15, 2023, via a SpaceX Falcon 9 rocket from Cape Canaveral. This satellite, part of the Eurostar Neo line, will enhance broadcasting for over a thousand channels across Europe, Northern Africa, and the Middle East. Two new satellites are replacing three older ones, optimizing capital expenditure while improving service quality and resilience.

Eutelsat Communications reported First Quarter revenues of €287 million, stable year-on-year but down 4.5% like-for-like. Operating Vertical revenues were €291 million, reflecting a 4.3% decline. Key growth was seen in Fixed Broadband (+21.1%) and Mobile Connectivity (+31.4%). The KONNECT VHTS satellite launched on September 7, enhancing future growth prospects with significant capacity for European markets. CEO Eva Berneke confirmed all financial objectives, projecting continued growth driven by new capacity commitments. However, Broadcast revenues dropped by 7.4%, influenced by contractual renewals.

Eutelsat Communications and OneWeb are combining to form the first global GEO/LEO satellite infrastructure, targeting a significant share of the expanding Satellite Connectivity market, projected to grow from $4.3bn to around $16bn by 2030. The merger is expected to generate over €1.5bn in synergies, along with a double-digit revenue and EBITDA growth forecast. The combined entity anticipates reaching revenues of €1.2bn in FY 2023 and aims for €2.0bn by FY 2027, while focusing on cost efficiencies and enhanced service offerings.

Eutelsat Communications has signed a multi-year agreement with Liquid Intelligent Technologies to provide Ka-band services via the EUTELSAT KONNECT satellite in Uganda, South Sudan, and the Eastern Democratic Republic of Congo. This partnership aims to enhance connectivity for SMEs and SOHOs in underserved areas. Liquid will also establish the first EUTELSAT KONNECT ground gateway in South Africa, expanding local coverage. The EUTELSAT KONNECT satellite supports broadband service delivery in Africa, reinforcing Eutelsat's commitment to bridging the digital divide.