EUTELSAT COMMUNS SA S/ADR - ETCMY STOCK NEWS

Eutelsat Communications has appointed Laurence Delpy as General Manager of the Video Business Unit and Cyril Dujardin as General Manager of the Connectivity Business Unit. This restructuring aims to enhance customer focus and operational efficiency, coinciding with the integration of Eutelsat and OneWeb announced in July. Both executives join Eutelsat's Executive Committee, with Delpy starting on August 29, 2022, and Dujardin on October 10, 2022. Eutelsat's CEO, Eva Berneke, expressed confidence in their strategic vision and operational capabilities.

The Chief Financial Officer of Eutelsat Communications, Sandrine Téran, will step down by the end of November to pursue other opportunities. She has served as CFO since January 2017, implementing financial strategies that maximized cash flow generation. Eutelsat's CEO, Eva Berneke, expressed gratitude for Téran’s contributions, particularly during the Eutelsat-OneWeb combination. The search for a successor is already underway, with Téran remaining in her role until the transition.

Eutelsat Communications has appointed Richard Mortellaro as the new President and CEO of Eutelsat America Corp., succeeding David Bair. Mortellaro brings over 30 years of experience in the satellite industry, previously holding senior positions at Intelsat and EchoStar. Eutelsat America Corp. provides communication services to U.S. Government and military clients, bolstering national security. The company aims to enhance its presence in the Americas region under Mortellaro's leadership.

Eutelsat and OneWeb have signed a Memorandum of Understanding to merge in an all-share transaction, creating a leading global Connectivity player. This strategic combination will allow each party's shareholders to hold 50% of the new entity, enhancing their market position. The merger aims to achieve a double-digit revenue and EBITDA growth rate in the medium to long term, with potential synergies estimated at over €1.5 billion. Additionally, Eutelsat plans to maintain a dividend of €0.93 per share and will continue to be listed on Euronext Paris and apply for a standard listing on the London Stock Exchange.

Eutelsat Communications has reported its financial results for FY 2021-22, revealing a 6.7% decrease in total revenues to €1,152 million. Operating Verticals revenues slightly exceeded expectations at €1,148 million, though they fell 4.4% year-on-year. EBITDA stood at €862 million with a stable margin of 74.8%. Notably, the Fixed Broadband and Mobile Connectivity segments showed strong growth, increasing 36.0% and 15.0%, respectively. The company maintained its dividend at €0.93 per share and updated financial targets to indicate a return to growth from FY 2023-24.

Eutelsat Communications (Euronext Paris: ETL) has confirmed discussions with OneWeb regarding a potential all-share combination to create a leading global satellite operator. The merger aims to integrate GEO and LEO technologies, positioning the company to tap into a projected $16 billion satellite connectivity market by 2030. Currently, Eutelsat holds a 23% stake in OneWeb, and the proposed transaction would see both parties holding 50% of the new entity. However, no assurance is given that these talks will result in an agreement, pending shareholder and regulatory approvals.

EUTELSAT KONNECT VHTS, the largest geostationary satellite ordered in Europe, is set to launch on September 6, 2022, via an Ariane 5 rocket from Kourou, French Guiana. The satellite features a capacity of 500 Gbps, significantly enhancing high-speed broadband and mobile connectivity across Europe. Major customers, including Orange and Telecom Italia Mobile, have committed to utilizing its services, emphasizing the satellite's role in bridging the digital divide. EUTELSAT KONNECT VHTS will operate 230 beams and incorporates advanced technology for optimal spectrum use.

Eutelsat Communications (Euronext Paris: ETL) is collaborating with three Mexican service providers to support the government’s "Internet para todos" program, enhancing internet access in rural schools. Utilizing the EUTELSAT 65 West A satellite, they aim to provide connectivity beyond traditional infrastructure. This initiative highlights satellite technology's role in bridging the digital divide and enhancing educational opportunities. Eutelsat's capacity will help accelerate internet provision across Mexico, benefiting isolated communities and promoting digital inclusion.