EUTELSAT COMMUNS SA S/ADR - ETCMY STOCK NEWS

The Board of Directors of Eutelsat Communications announces the appointment of Eva Berneke as Chief Executive Officer effective January 1, 2022. Berneke, who has extensive experience in telecoms and technology, previously led KMD in Denmark and held senior roles at TDC. She will also be co-opted onto the Board. Chairman Dominique D’Hinnin expressed confidence in Berneke's ability to guide Eutelsat's transition towards telecommunications, leveraging its investments in OneWeb. Berneke is enthusiastic about the company's prospects in the space sector.

Eutelsat Communications has partnered with Vodacom Tanzania to deliver connectivity in underserved areas of Tanzania using the EUTELSAT KONNECT high-throughput satellite. Following a successful trial, Vodacom will brand the services, targeting B2B and hospitality sectors. With this initiative, Vodacom aims to connect all regions of Tanzania, including remote areas, potentially offering speeds of up to 100Mbps. This collaboration highlights the demand for better connectivity in Africa and represents a significant step towards closing the digital divide.

Eutelsat Communications and Gazprom MKS have launched a two-year cooperation project in Russia, focusing on reducing CO2 emissions from gas transmission operations. The initiative successfully saved one billion cubic meters of gas and lowered greenhouse gas emissions by 17 million tons of CO2-equivalent. Utilizing mobile compressor stations and satellite communications, the project spanned 13 companies across a vast region, enhancing operational efficiency. CEO Dmitry Bronner emphasized the project's ecological impact and potential for future partnerships to further promote environmental sustainability.

Eutelsat Communications has joined the "Net Zero Space" initiative at the Paris Peace Forum, aiming for a sustainable outer space environment by 2030. The company emphasizes its commitment to mitigating in-orbit debris through its Space Debris Mitigation Plan, achieving over 95% success in deorbiting spacecraft. This initiative aligns with Eutelsat's robust CSR policy and compliance with stringent regulations, reinforcing its position as a responsible satellite operator in the context of rising orbital debris, which currently exceeds 1 million objects.

Eutelsat Communications held its Annual General Meeting where all proposed resolutions were approved. Key highlights include the approval of financial accounts and a dividend of €0.93 per share, representing a 5% increase from the previous year. This dividend will be paid on November 18, 2021. The Board's composition remains stable, with 50% of members being women and 70% being independent. Additionally, BPIFrance Investissement was appointed to the Board, expanding its governance structure.

Eutelsat Communications has renewed its agreement with Nilesat for Ku capacity at the 7° West position, enhancing service terms. This multi-year, multi-transponder deal confirms Eutelsat's stronghold in the Middle East and North Africa, covering 90% of TV households in the region. With over 60 million homes and 1,000 channels, this partnership aims to provide high-quality broadcasting services. CEOs Rodolphe Belmer and Ahmed Anis expressed satisfaction, highlighting the continuation of reliable broadcasting in a dynamic market.

Eutelsat Communications reports Q1 revenues of €287.3 million, reflecting an 8.9% decrease year-on-year, primarily impacted by COVID-related effects and the disposal of Euro Broadband Infrastructure. Operating Verticals revenues decreased by 3.4% to €284.8 million. Despite revenue declines, Eutelsat confirms its financial objectives, citing growth in Fixed Broadband and successful launch of EUTELSAT QUANTUM. The company has strengthened its commitment to OneWeb, increasing its stake to 23%. Eutelsat's backlog stands at €4.2 billion, equating to 3.4 times its annual revenue.

Eutelsat Communications and Hispasat have signed a multi-year strategic agreement for wholesale capacity on the EUTELSAT KONNECT satellite. This collaboration aims to enhance high-speed broadband access in Spain and Portugal, thereby addressing the digital divide. The deal is projected to generate a high-single digit million euro annual revenue at full capacity. Under this agreement, Hispasat will become the exclusive operator in the Iberian region, complementing its existing services with Eutelsat's capabilities, bolstering their market presence following similar agreements in France, Italy, and Germany.