Eutelsat Communications Reports Record Revenue Growth in the First Quarter 2009-2010: +11.6%
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PARIS, November 5 Eutelsat-Communicatio
PARIS, November 5 /PRNewswire-FirstCall/ --
- Strong Revenue Increase Across All Business Applications:
- Video: +8.5%, Driven by Take-up of Digital TV in Emerging Markets and
by Growth of HDTV
- Data and Value-Added Services: +16%, Continued Solid Demand, Notably in
Africa and the Middle East
Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), one
of the world's leading satellite operators, today reported financial
information for the first quarter ended September 30, 2009.
Revenues by business application
First quarter ended Change
September 30
In millions of euros 2008 2009 In %
Video Applications 166.7 180.8 +8.5%
Data & Value Added Services 41.1 47.7 +16.0%
Multi-usage 15.6 22.9 +46.2%
Others 3.2 1.7 -
Total 226.7 253.0 +11.6%[1]
Commenting on performance during the first quarter 2009-2010, Giuliano
Berretta, Chairman and CEO of Eutelsat Communications said: "Eutelsat
Communications' double digit revenue growth for our first quarter testifies
to the success of our in-orbit expansion programme, which in combination with
excellent commercial performance, has enabled us to leverage new capacity for
markets recording the most buoyant growth. Following the entry into service
in the second half of the 2008-2009 financial year of three satellites and
the redeployment of five satellites already in orbit, our expansion programme
takes a new step forward later this month with the launch of W7 to serve
particularly dynamic broadcast and telecom markets in Russia, the Ukraine,
Africa and Central Asia. Four more satellites are scheduled for launch by the
end of 2011 to drive further growth.
Our commercial efforts are supported by the ongoing dynamic of digital
broadcasting and broadband services. Positioned at the heart of our business,
these two activities fundamentally require satellites to serve users directly
and to feed or complement terrestrial networks. Our video business has also
benefited from the expansion of HDTV which requires on average 2.5 times the
bandwidth used by a Standard Digital channel. Meanwhile, increased
initiatives at national and regional levels to deliver broadband to users
beyond range of ADSL are stimulating demand for our value-added broadband
services for businesses, communities and consumers.
With the pursuit of our ambitious strategy, backed by strong structural
assets and markets showing significant potential for growth, Eutelsat can be
confident of meeting our objectives and continuing our trajectory of lasting
and profitable growth."
FIRST QUARTER 2009-2010 REVENUE ANALYSIS
Note: Unless otherwise stated, all growth indicators or comparisons are
made against the first quarter of the previous fiscal year or September 30,
2008. The share of each application as a percentage of total revenues is
calculated excluding "other revenues" and "one-off revenues".
The excellent performance achieved in the first quarter (+11.6%) reflects
strong growth across all applications. The period fully benefited from an
increase in in-orbit resources following the entry into service of three
satellites over the last nine months and the redeployment of five satellites
already in orbit. This additional capacity enabled Eutelsat to leverage the
strong commercial momentum of buoyant markets in Central and Eastern Europe,
the Middle East and Africa.
VIDEO APPLICATIONS (71.9% of revenues)
Video Applications registered sustained increase in revenue (+8.5%) to
EUR180.8 million. With 3 329 TV channels broadcast by Eutelsat's fleet at
September 30, 2009 (+4.7%), Eutelsat further consolidated the commercial
strength of its nine video neighbourhoods.
This strong performance was driven by the following:
- For European markets, the successful launch of HOT BIRD(TM) 9 and the
redeployment of EUROBIRD(TM) 9A[2] and EUROBIRD(TM) 16[3] further
anchored the leadership of the premium HOT BIRD(TM) video
neighbourhood, and enabled the Group to increase capacity at 9 degrees
East and 16degrees East in order to enhance customer service.
Growth in the first quarter consequently reflects the full effect of
contracts concluded over the last nine months through dynamic
management of in-orbit resources. Significant long-term contracts
include Sky Italia (Italy) and Cyfrowy Polsat (Poland) at the
HOT BIRD(TM) position, contracts at 9 degrees East with Hello HD
(Hungary) and Platforma HD (Russia) and at 16 degrees East with SBB
(Serbia) for the Total TV platform and with Globecast to broadcast
channels produced by TVR, Romania's national public broadcaster.
- In Middle East and African markets, Eutelsat's broadcasting resources
at 7 degrees West almost doubled with the entry into service of
ATLANTIC BIRD(TM) 4A. This satellite equips the Group to capture
opportunities presented by the rapid take-up of digital TV in these
regions within the framework of the strategic agreement concluded with
the Egyptian operator, Nilesat. The number of channels broadcast at
this neighbourhood rose by 64% year-on-year to 247 channels at
September 30, 2009.
- High Definition TV which increased at each of the Group's video
neighbourhoods. In total, the number of HDTV channels broadcast by
Eutelsat's fleet rose by over 60% during the period to break the
barrier of 100 channels. With a share exceeding 40% of HDTV channels
broadcast over Europe, Russia and the Middle East, Eutelsat reinforced
its pole position in this growing market.
DATA AND VALUE-ADDED SERVICES (19% of revenues)
The 17.8% increase in Data Services revenues at EUR36.9 million shows
strong demand for capacity for corporate networks and GSM backhaul in Africa,
Central Asia and the Middle East and for Internet backbone connectivity for
local Internet Service Providers operating in areas unserved by terrestrial
networks. Revenue growth reflects in particular:
- The activation of recently signed contracts, notably with British
Telecom and Hughes Network Systems;
- The entry into service of the W2A satellite whose excellent coverage of
Europe and Africa enabled increased capacity to be leased in particular
by ACS Angola, Globecast, Telespazio, SkyVision and the London
Satellite Exchange (a subsidiary of Astrium Services).
Revenue from Value-Added Services continued to rise steadily to EUR10.7
million (+10.3%) as a consequence of sustained demand for direct Internet
access from enterprises and communities located in areas unserved by
terrestrial broadband networks, and also for mobile services. With an
installed base of 10,028 terminals at September 30, 2009, the D-STAR[4]
service gained further marketshare in the first quarter with new contracts
including its selection to deliver a satellite-based broadband service to 470
Moroccan schools in rural areas. The Tooway(TM)[5] consumer broadband
service, with 48 distributors in 22 countries at September 30, 2009, is
gaining increasing interest from governments and institutions as a solution
to the digital divide. Within the framework of Ireland's National Broadband
Scheme, Tooway(TM) was recently selected by the Irish mobile broadband
provider "3" and Satellite Broadband Ireland in order to offer broadband to
the 5 to 8% of Irish homes beyond reach of terrestrial broadband networks.
MULTI-USAGE (9.1% of revenues)
Multi-usage services (up 46.2% to EUR22.9 million) benefited from the
entry into service in June 2009, of the EUROBIRD(TM) 4A satellite
(redeployment of W1 satellite at 4degrees East) which allowed the Group to
activate new contracts for government services, notably in Central Asia and
the Middle East.
Other revenues and one-off revenues
The slight EUR1.5 million decrease in other revenues is mainly due to
lower currency hedging gains which were relatively high in the first quarter
of the previous fiscal year.
UPCOMING SATELLITE LAUNCH: W7
The Group continues to execute its in-orbit expansion programme which
encompasses the launch of five satellites by end 2011. The W7 satellite is
currently in final stages of preparation for launch on November 23, 2009 from
the Baikonour Cosmodrome on a Proton Breeze M rocket operated by
International Launch Services (ILS).
Built for Eutelsat by Thales Alenia Space, Eutelsat's newest and most
powerful satellite to date will be colocated with W4 at 36degrees East to
double resources at one of Eutelsat's fastest-growing neighbourhoods.
Through a configuration of up to 70 transponders connected to five
high-performance fixed and steerable beams, W7 will provide coverage of
Russia and sub-Saharan Africa for digital broadcasting services including
pay-TV, and add significant resources and flexibility for expanding video and
telecommunications markets in Europe, Africa, the Middle East and Central
Asia. The satellite will also enhance service provided since 2000 by SESAT 1,
which after W7's entry into service at 36degrees East will be redeployed at
an alternative location.
Financial calendar
The financial calendar below is provided for information purposes only.
It is subject to change and will be regularly updated.
- November 10, 2009: Annual Shareholders' Meeting
- February 18, 2010: earnings for the first half ended December 31, 2009
- May 12, 2010: financial report for third quarter ended March 31, 2010
- July 29, 2010: earnings for the full year ended June 30, 2010
About Eutelsat Communications
Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is
the holding company of Eutelsat S.A.. With capacity commercialised on 27
satellites that provide coverage over the entire European continent, as well
as the Middle East, Africa, India and significant parts of Asia and the
Americas, Eutelsat is one of the world's three leading satellite operators in
terms of revenues. At 30 September 2009, Eutelsat's satellites were
broadcasting 3,300 television channels and 1,100 radio stations. More than
1,000 channels broadcast via its HOT BIRD(TM) video neighbourhood at 13
degrees East which serves over 123 million cable and satellite homes in
Europe, the Middle East and North Africa. The Group's satellites also serve a
wide range of fixed and mobile telecommunications services, TV contribution
markets, corporate networks, and broadband markets for Internet Service
Providers and for transport, maritime and in-flight markets. Eutelsat's
broadband subsidiary, Skylogic, markets and operates services through
teleports in France and Italy that serve enterprises, local communities,
government agencies and aid organisations in Europe, Africa, Asia and the
Americas. Headquartered in Paris, Eutelsat and its subsidiaries employ 615
commercial, technical and operational employees from 28 countries.
http://www.eutelsat.com
Appendix
Revenue breakdown by application (in percentage of revenues)*
3 months ended 30 September 2008 2009
Video Applications 74.6% 71.9%
Data & Value-Added Services 18.4% 19.0%
........of which Data Services 14.1% 14.7%
........of which Value-Added Services 4.3% 4.3%
Multi-usage 7.0% 9.1%
Total 100% 100%
* excluding other revenues and one-off revenues (EUR3.2 million in Q1
2008-2009 and EUR1.7 million in Q1 2009-2010)
Quarterly revenues by business application
3 months ended
In millions 30/09/2008 31/12/2008 31/03/2009 30/06/2009 30/09/2009
of euros
Video Applications 166.7 169.8 172.3 170.8 180.8
Data & Value-Added
Services 41.1 43.2 42.3 46.4 47.7
....of which Data 31.4 33.1 33.1 36.6 36.9
Services
....of which 9.7 10.1 9.2 9.8 10.7
Value-Added
Services
Multi-usage 15.6 19.3 19.7 20.8 22.9
Other 3.2 4.5 2.2 0.8 1.7
Sub-total 226.7 236.8 236.5 238.8 253.0
One-off revenues[6] - - - 1.8 -
Total 226.7 236.8 236.5 240.5 253.0
Estimated satellite launch schedule
Satellite Expected orbital Estimated launch Transponders
position
W7 36degrees East 23 November 2009 70 Ku
W3B 16degrees East Q2 2010 53 Ku / 3 Ka
KA-SAT 13degrees East Q4 2010 > 80 Ka beams
W3C 7degrees East Q3 2011 56 Ku
ATLANTIC BIRD(TM) 7 7degrees West Q4 2011 50 Ku
Note: Satellites generally enter into service one to two months after
launch.
Eutelsat's fleet changes since Q4 2008-2009:
- April 2009: entry into service of ATLANTIC BIRD(TM) 4A at 7degrees West
to serve North Africa and Middle-East ;
- May 2009: entry into service of W2A at 10degrees East for Data and
Value-Added Services in Ku-band and C-band ;
- May 2009: redeployment of ATLANTIC BIRD(TM) 4 (renamed EUROBIRD(TM) 16)
at 16degrees East for Central Europe ;
- June 2009: redeployment of W1 (renamed EUROBIRD(TM) 4A) at 4degrees
East for Multi-usage services.
---------------------------------
[1] At constant exchange rate, revenue growth would have been 11.9%
[2] Previously HOT BIRD(TM) 7A
[3] Previously ATLANTIC BIRD(TM) 4
[4] The D- STAR service provides Internet access and Virtual Private
Networks to enterprises and institutions in regions with inexistent
or unreliable terrestrial broadband infrastructure.
[5] The Tooway(TM) service, both in Ka-band and Ku-band, provides broadband
access to homes beyond range of terrestrial networks.
[6] Non-recurring revenues comprise late delivery penalties and outage
penalties.
For further information
Press
Vanessa O'Connor
Tel: +33-1-53-98-38-88
voconnor@eutelsat.fr
Frederique Gautier
Tel: +33-1-53-98-38-88
fgautier@eutelsat.fr
Investors
Gilles Janvier
Tel: +33-1-53-98-35-30
investors@eutelsat-communications.com
SOURCE Eutelsat Communications
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