Report
Stephane Beyazian

Eutelsat Group : FY 2025 guidance below expectations despite better Q4

>Q4 2024 above expectations but 2025 guidance below - For 2025, Eutelsat is targeting flat sales of € 1,210m (Bloomberg consensus € 1,380m, ODDO BHF € 1,319m), EBITDA “slightly” down from € 698m (Bloomberg cons. € 760m) and negative EBITDA-capex (cons. € 66m) including capex of € 700-800m (Bloomberg consensus € 616m, ODDO BHF € 630m). Medium-term guidance is not reiterated: Eutelsat was targeting a double-digit CAGR of sales and adjusted EBITDA over 2024-2028, capital...
Underlying
Eutelsat Communications SA

Eutelsat Communications is a private telecommunications satellite operator involved in the design, establishment, operation and maintenance of satellite telecommunications systems covering a large geographical area (extended Europe (including North Africa and the Middle East), sub-Saharan Africa, parts of America and Asia). Co. provides its customers broadcasting capacity and associated services to transmit TV programmes via satellite, cable or Internet Protocol (IP) networks. As of June 30, 2013, Co. owned and operated 31 satellites in geostationary orbit and 4 satellites in inclined orbit.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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