Eutelsat Communications Reports Revenue Growth of 7.2% and Net Income Increase of 43.6% for its 2008-2009 Financial Year

Eutelsat Communications Reports Revenue Growth of 7.2% and Net Income Increase of 43.6% for its 2008-2009 Financial Year

The Group Raises Short and Medium Term Growth Objectives

PARIS, July 31/PRNewswire-FirstCall/ --

- Strong growth of all business applications: revenues up 7.2% to
EUR940.5 million

- EBITDA[1] margin of 78.9% maintained at the highest level of leading
satellite operators

- Sharp increase in Group share of net income: up 43.6% to EUR247.3
million

- Proposed distribution to shareholders: EUR0.66 per share, representing
a pay-out ratio of almost 59%

- Strengthened financial structure: net debt improved to 3.13x EBITDA

- New targets for 2009-2012:

- CAGR revenues of 7%, with 2009-2010 revenues above EUR1 billion

- EBITDA objective of more than EUR780 million for 2009-2010

- EBITDA margin maintained at a high level in the range of 77% for
each financial year to June 2012

Eutelsat Communications (ISIN: FR0010221234 - Euronext Paris: ETL), one
of the world's leading satellite operators, today reported results for the
full year ended June 30, 2009.

Twelve months ended June 30 2008 2009 Change
Key elements of the consolidated income statement
Revenues EURm 877.8 940.5 +7.2%
EBITDA EURm 695.7 742.1 +6.7%
EBITDA margin % 79.3 78.9 -
Group share of net income EURm 172.3 247.3 +43.6%
Diluted earnings per share EUR 0.789 1.126 +42.7%

Key elements of the consolidated cash flow statement
Net cash flow from operating activities EURm 566.6 654.7 +15.6%
Capital expenditure EURm 422.5 416.6 -1.4%
Operating free cash flow EURm 144.1 358.7[2] +149%

Key elements of financial structure
Net debt EURm 2,422 2,326 -4%
Net debt/EBITDA X 3.48 3.13 -

Backlog
Backlog EURbn 3.41 3.94 +15.5%

At constant exchange rate, revenue growth is +5.9%.

Commenting on the full year 2008-2009 results, Giuliano
Berretta, Chairman and CEO of Eutelsat Communications said:

"Eutelsat Communications continued to report solid progress
for its 2008-2009 financial year both in terms of revenues and net income,
continuing a trend of uninterrupted growth since it became public. This
year's revenue increase across our full range of activities is all the more
remarkable as the additional resources brought by new satellites were
available only from the third and fourth quarters. Our strong performance
also reflects the mobilisation of the teams working at Eutelsat and their
commitment to ensuring customer satisfaction, to increasing our competitive
edge and our capacity to innovate.

These results reflect very favourable trends for the future,
including the steady take-up of pay TV driven by new HDTV offers, contract
renewals at significantly higher prices, the clear recovery of Data Services
and the development of our Value Added Services activity which addresses
broadband markets. Up by 530 million euros to more than 3.9 billion euros,
our backlog today represents the equivalent of more than four years of
revenue, further strengthening visibility on future revenue streams. From an
operational standpoint, the completion of the first phase of our major
satellite renewal and development programme highlights the exceptional
technical competence of our teams. With the launch of three satellites and
the redeployment of three additional ones in less than five months, we have
increased operational resources by 88 transponders. We have strengthened the
flexibility of our fleet, increased security at our premium HOT BIRD(TM)
neighbourhood and added capacity at four rapidly expanding neighbourhoods
(7degrees West, 9degrees East, 10degrees East and 16degrees East).

We enter the 2009-2010 financial year with confidence and
ambition, backed by strong structural assets. As an infrastructure operator,
the long-term contracts that characterise our activity are protecting our
Group during the economic downturn, while our role in delivering content to
our clients' networks and distributing services direct to their customers
anchors us as a critical link in the broadcasting chain. For the future, we
have clearly identified the multiple growth drivers for our business. The
evolution of television formats and applications including HDTV, along with
digital cinema and 3D represent enormous growth potential across all regions
served by our in-orbit resources. In addition, the objectives fixed by an
increasing number of countries to ensure universal broadband access highlight
the fundamental requirement for satellites to supplement terrestrial
networks.

With five satellites scheduled for launch by the end 2011,
including KA-SAT which will transform satellite broadband into a true mass
market activity, our platform for expansion enables us to revise upwards our
short and medium term goals. For the 2009-2010 financial year we are
targeting revenues of more than 1 billion euros, consistent with an objective
of a compound annual growth rate of 7% over the coming three years, together
with an EBITDA margin maintained each year to June 2012 at a high level in
the range of 77%.

Before concluding, I would like to welcome Michel de Rosen to
Eutelsat. With his remarkable track record at the helm of international
companies, Michel is highly qualified to join our executive team prior to
assuming the position of Chief Executive Officer in November. I look forward
to working in close collaboration with him and to combining our expertise to
ensure Eutelsat's long term growth.

In view of this year's excellent results and our policy of
offering shareholders an attractive remuneration, the Board of Directors will
submit to the Annual General Meeting the proposal to distribute 0.66 euro per
share, representing almost 59% of net income group share."

EXCELLENT PERFORMANCE OF ALL BUSINESS APPLICATIONS

Note: Unless otherwise stated, all growth indicators or
comparisons are made against the previous fiscal year or June 30, 2008. The
share of each application as a percentage of total revenues is calculated
excluding "other revenues" and "one-off revenues".

Revenues by business application (in millions of euros)

Change
Twelve months ended June 30 2008 2009 (in EUR (in %)
million)
Video Applications 649.4 679.7 +30.3 +4.7
Data & Value Added Services 152.5 173.0 +20.5 +13.4
Data Services 117.8 134.1 +16.4 +13.9
Value Added Services 34.7 38.8 +4.1 +11.9
Multi-usage 58.1 75.4 +17.3 +29.8
Others 17.8 10.7 (7.1) NA
Sub-total 877.8 938.8 + 61.0 +7.0[3]
One-off revenues [4] - 1.8 +1.8 NA
Total 877.8 940.5 +62.8 +7.2

VIDEO APPLICATIONS (73.3% of revenues)

Video Applications revenue of EUR679.7 million increased by 4.7%. This
growth is all the more exceptional considering that additional capacity was
only available from February 2009, with the entry into service of HOT
BIRD(TM) 9 in the third quarter and ATLANTIC BIRD(TM) 4A[5] in the fourth
quarter. As part of the Group's cascade strategy, these two satellites also
enabled the Group to redeploy HOT BIRD(TM) 7A (renamed EUROBIRD(TM) 9A) at
9degrees East and ATLANTIC BIRD(TM) 4 (renamed EUROBIRD(TM) 16) at 16degrees
East.

This growth reflects a number of factors:

- An increase in prices for contracts renewed at the HOT BIRD(TM)
neighbourhood during the financial year;

- Sustained demand for capacity, notably at four video neighbourhoods:

- 9degrees East, serving Europe, with the number of channels doubling as
a consequence of the expansion of existing customers and the arrival of
new TV platforms including Platforma from Russia.

- 36degrees East, serving Russia and Sub-Saharan Africa, with the
continued growth of the Russian TV platforms NTV+ and Tricolor, and
MultiChoice, the African TV platform;

- 16degrees East where growth was driven by the extension of TV platforms
for Central Europe including Digitalb (Albania), Total TV (Balkans) and
TVR (Romania);

- 7degrees West which is jointly operated with the Egyptian satellite
operator Nilesat to serve markets in North Africa and the Middle East.
The Group's resources at this neighbourhood increased with the entry
into service of the new ATLANTIC BIRD(TM) 4A satellite at the beginning
of the fourth quarter.

- Significant growth (+75%) of HDTV channels broadcast by the Group's
fleet. HDTV channels rose to 86 (+37), up from 49 a year ago, with the
launch of channels by major platforms including SKY Italia, Cyfra +,
Cyfrowy Polsat and NTV+ and the arrival of new services including
Russia's Platforma HD. Given that HDTV broadcasting requires 2.5 times
more bandwidth than standard definition digital TV, this increase is
equivalent to 100 standard definition channels.

In June 2009, the Group launched the FRANSAT service in France from its
ATLANTIC BIRD(TM) 3 satellite. This subscription-free service comprises all
of France's free DTT channels to enable homes beyond terrestrial reception to
receive France's free national channels after analogue switch-off. For the
1.5 million homes in France beyond range of analogue terrestrial reception
who are already equipped for reception from ATLANTIC BIRD(TM) 3, FRANSAT will
enable a switch to digital with the simple acquisition of a set-top box and
no change to their satellite dish.

At June 30, 2009, the number of channels broadcast by Eutelsat's fleet
had reached 3,191 of which 86 were HDTV channels.

The strong increase in the audience of the Group's video neighbourhoods,
which emerged from Eutelsat's 2009 survey of satellite and cable homes, is an
additional significant feature for assessing the strength of Video
Applications. The overall audience of the Group's video neighbourhoods grew
by 10% per year over the last two years, from 173 million to 190 million
homes. This increase reconfirms the leadership of the HOT BIRD(TM)
neighbourhood whose Direct-to-Home and cable audience rose to 123 million
homes, and the strength of neighbourhoods serving the Second Continent[6].

DATA and VALUE-ADDED SERVICES (18.6% of revenues)

Data Services recorded strong growth of 13.9% to EUR134.1 million,
confirming sustained demand from fixed and mobile telecommunication and
Internet markets, in particular in Africa, Central Asia and the Middle East.
Satellite remains in these markets the most cost-effective solution for
feeding or interconnecting local networks spread over large territories.

The performance of Data Services also reflects the entry into service in
the fourth quarter of the Ku-band and C-band payloads on the W2A satellite
which offers privileged coverage for connectivity between Europe, Africa,
South and Central Asia and South America. These resources enabled Eutelsat to
immediately activate a number of new contracts with major clients including
France Telecom and PCCW Global.

With the strong coverage provided by its satellites operating at
10degrees East, 7degrees East, 21.5degrees East and 12.5degrees West,
Eutelsat also won long-term contracts with major companies including Algeria
Telecom, Hughes Network Systems, Telespazio, Horizon Satellite Services, the
London Satellite Exchange, ORG and Etisalat.

Value-Added Services registered growth of 11.9% to EUR38.8 million,
principally driven by increased demand (+24%) for direct Internet access from
enterprises and communities which remain the main growth driver of this
activity. The installed base of D-STAR[7] terminals grew by 11% to 9,914,
with Africa and the Middle East representing the main regions of expansion.
Following successful tests conducted during the previous financial year, the
D-STAR service, which was developed to offer Internet access to rail
passengers, is under deployment on the entire fleet of TGV East high-speed
trains operated by France's SNCF.

The Group also continued to develop the distribution network of the
TOOWAY(TM)[8] consumer broadband service. A number of distribution contracts
were concluded, in particular with Telecom Italia and Fastweb in Italy, 3 in
Ireland, El Corte Ingles in Spain and Hellas On Line in Greece. Eutelsat's
objective is to prepare the consumer satellite broadband market in advance of
the arrival by the end of 2010 of the KA-SAT satellite. Currently provided
using capacity on HOT BIRD(TM) 6 and EUROBIRD(TM) 3, TOOWAY(TM) represents an
important complement to terrestrial broadband networks, and responds to
objectives set by an increasing number of governments to provide universal
broadband access by 2012.

MULTI-USAGE (8.1% of revenues)

Up by 29.8%, vigorous growth of revenue from Multi-usage
reflects:

- Demand for additional capacity for governmental services
notably in Central Asia and the Middle East, together with an increase
in price for contract renewals.
- Significant appreciation of the US dollar against the euro. At a
constant exchange rate, growth of Multi-usage would have been 18%.

Other revenues and one-off revenues

Other revenues amounted to EUR10.7 million. The EUR7.1 million decrease
is due to the exceptionally high currency exchange rate hedging gains booked
in the previous financial year. One-off revenues correspond to late delivery
penalties of EUR1.8 million for the W2M satellite.

15.5% INCREASE IN BACKLOG[9]

The Group's backlog increased at a rate twice that of revenues,
reflecting Eutelsat's excellent commercial performance and the renewal and
growth of in-orbit resources during the second half of the financial year.
The backlog at June 30, 2009 was more than EUR3.9 billion, equivalent to over
four times annual revenues.

With almost eight years in weighted average residual life of contracts,
the backlog increases the Group's long-term visibility on revenues and cash
flow.

Backlog main indicators

At June 30 2008 2009
Value of contracts (in billions of euros) 3.4 3.9
Weighted average residual life of contracts (in 7.4 7.8
years)
Share of Video Applications 93% 92%

COMPLETION OF FIRST PHASE OF SATELLITE EXPANSION PROGRAMME

Entry into service of additional in-orbit resources

In the course of the second half of the financial year, the
Group implemented the initial phase of its investment programme which aims to
further secure and increase in-orbit resources.

The entry into service of three satellites raised security for
broadcasting clients at the premium HOT BIRD(TM) neighbourhood at 13degrees
East (HOT BIRD(TM) 9) and also expanded in-orbit resources at 7degrees West
(ATLANTIC BIRD(TM) 4A) and 10degrees East (W2A).

These successful launches enabled the Group to optimise the
flexibility of its satellite fleet: three existing[10] satellites were
redeployed to increase capacity at 9degrees East (EUROBIRD(TM) 9A), 16degrees
East (EUROBIRD(TM) 16[11]) and 4degrees East (W1).

At June 30, 2009 the Group was operating 589 transponders in
stable orbit, compared with 501 transponders at 30 June 2008.

Active investment policy pursued

The Group continued to pursue its active investment policy
with the procurement of two satellites during the financial year.

- W3C: ordered from Thales Alenia Space, this high-capacity
satellite will assume the initial mission of W3B which the Group
decided to assign to 16degrees East following the major anomaly which
occurred in January 2009[12] on the W2M satellite. W3C's mission will
be to increase capacity and raise in-orbit redundancy at 7degrees East
and secure continuity of services in the event of a launch failure of
W7 or W3B.
- ATLANTIC BIRD(TM) 7: ordered from Astrium, the mission of this
high-capacity satellite is to replace ATLANTIC BIRD(TM) 4A at 7degrees
West in order to significantly increase resources at this key video
neighbourhood operated in collaboration with Nilesat to serve broadcast
markets in the Middle East and North Africa. Following the launch of
ATLANTIC BIRD(TM) 7, the ATLANTIC BIRD(TM) 4A satellite (formerly known
as HOT BIRD(TM) 10) will be deployed at 13degrees East.

Increased operating flexibility

With the implementation of the first phase of its in-orbit investment
programme, the Group was able to meet sustained demand for capacity at its
orbital positions, as illustrated by the growth of leased transponders (+55
year-on-year).

New capacity also substantially improved the operating flexibility of the
fleet and enabled the fill rate to decrease to 88.8% at June 30, 2009,
compared with more than 97% a year ago.

Fleet evolution

June 30, December 31, June 30,
2008 2008 2009

Operational 501 501 589
transponders[13]
Leased transponders[14] 468 488 523
Fill rate 93.4% 97.6% 88.8%

Solaris Mobile

In May 2009, Solaris Mobile Ltd, the Joint Venture company established
with SES Astra, was awarded 2x15 Mhz of S-Band spectrum by the European
Commission. In orbit tests of the S-band payload owned by Solaris Mobile Ltd
indicated significant non compliance with the original technical
specifications. Solaris Mobile Ltd has consequently filed for an insurance
claim for the full value of the S Band payload embarked on W2A. Solaris
Mobile Ltd remains confident in its capacity to meet the commitments that
supported the award of the S-Band spectrum by the European Commission and
remains fully committed to providing some services in the S-band. This
incident has no impact on W2A's Ku-band and C-band payloads.

RESULTS SHOWING STRONG PROGRESS

Extract from the consolidated income statement (in millions of euros)[15]

Twelve months ended June 30 2008 2009 Change (%)
Revenues 877.8 940.5 + 7.2%
Operating expenses[16] (182.1) (198.4) + 9%
EBITDA[17] 695.7 742.1 + 6.7%
Depreciation and amortisation[18] (300.9) (294.2) - 2.2%
Other operating revenues (costs) (16.0) 23.8 -
Operating income 378.8 471.6 + 24.5%
Financial result (109.1) (99.6) - 8.7%
Income tax (97.5) (128.0) + 31.3%
Income from equity investments 11.2 15.9 + 42.5%
Minority interests (11.1) (12.6) +13.1%
Group share of net income 172.3 247.3 +43.6

EBITDA margin maintained at the highest level of leading
satellite operators

EBITDA rose by more than EUR46 million compared with the previous
financial year, reflecting excellent commercial performance and strict cost
control.

The Group's EBITDA margin of 78.9% is maintained as the highest of
leading satellite operators.

Operating expenses represent 21.1% of revenues in 2008-2009 compared with
20.7% in 2007-2008. The 9% year-on-year increase (+EUR16 million) reflects:

- A comparison effect due to exceptionally high provision reversals
booked in the previous financial year. Restated for this non-recurring
item, operating expenses would have risen by only 6.8%.

- Increased resources, notably, for commercial activity supporting the
development of new services and the sale of new capacity;

- Higher business tax following the increase in net income during the
previous financial year.

24.5% rise in operating income

Operating income rose by more than EUR90 million to EUR471.6 million
compared with the previous financial year.

This increase was driven by EBITDA, but also by the following one-time
events:

- A EUR6.6 million reduction in depreciation and amortisation with the
end of depreciation of certain satellites, including EUROBIRD(TM) 9,
and the decrease in depreciation charge for EUROBIRD(TM) 3, which more
than offset the depreciation charge corresponding to satellites
launched during the financial year.

- A sharp rise in "Other operating revenues (costs)", mainly due to EUR25
million of one-off income following the sale of some rights in
Hispasat; to the impairment of the W2M satellite following the major
anomaly which occurred in January 2009 being offset by an insurance
compensation of the same amount, and to the expense corresponding to
the dilution from the exercise of stock options granted by Eutelsat SA
which was relatively small.

Strong increase in Group share of net income: +43.6% to
EUR247.3 million

The EUR75.1 million increase in Group share of net income reflects:

- Reduced net financial charges compared with the previous financial
year, mainly due to increased capitalised borrowing costs, related to
the implementation of the investment programme;

- Lower effective tax rate of 34.4% compared with 36.2% in the previous
financial year;

- Strong growth in income from equity investments, reflecting the
excellent commercial and operating performance of Hispasat, the leading
satellite operator in Spanish and Portuguese-language markets, of which
Eutelsat owns 27.69%.

STRENGTHENED FINANCIAL STRUCTURE

Increased net cash flow from operating activities: up 15.6% to EUR654.7
million

Reflecting the strength of a business model comparable to an
infrastructure operator, Eutelsat once again generated strong net cash flow
from operating activities of EUR654.7 million representing 69.6% of revenues,
compared with 64.5% for the previous financial year. This was helped, in
particular, by a one-off income of EUR25 million following the sale of
certain rights in Hispasat and by a EUR21.6 million reimbursement of income
tax.

Capital expenditures of EUR416.6 million were entirely covered by net
operating cash flows. They include:

- the EUR33 million repayment by Solaris Mobile of capital expenditure
paid by the Group for its subsidiary;

- on-going investments related to satellites already ordered;

- the order of two additional satellites in the course of the second half
of the financial year.

The particularly high level of operating free cash flow of
EUR358.7 million (+149%) is principally related to the insurance compensation
of EUR120.5 million following the major anomaly in January 2009 of the W2M
satellite. This amount was deducted from the cash flows covering investments
in tangible assets. Excluding this insurance proceed, operating free cash
flow from operating activities would have been up by 65.3%.

Strengthening of Group financial structure

Net debt[19] was reduced by almost EUR100 million, taking the net debt to
EBITDA ratio to 3.13x, compared to 3.48x on June 30, 2008.

Net debt to EBITDA ratio

Twelve months ended June 30 2008 2009 Change
Net debt at the beginning of the period 2,295 2,422 +127
(in millions of euros)
Net debt at the end of the period 2,422 2,326 -96
(in millions of euros)
Net debt / EBITDA 3.48 3.13 -

As a reminder, the Group's financial debt comprises two syndicated
facilities:

- EUR1.9 billion (of which EUR300 million undrawn) with maturity ending
in June 2013;

- EUR1.3 billion (of which EUR450 million undrawn) with maturity ending
in November 2011.

During previous financial years, the Group put hedging instruments in
place against interest rate variations covering to their maturity a large
part of syndicated facilities. The average cost of debt drawn by the Group
during the financial year was 4.15%, net of hedging effects.

DISTRIBUTION TO SHAREHOLDERS OF ALMOST 59% OF GROUP SHARE OF
NET INCOME

The July 30, 2009 Board of Directors decided to submit to the
approval of shareholders a distribution of EUR0.66 per share, representing a
pay-out ratio of 58,6%. This compares to a distribution of EUR0.60 in
2007-2008.

This high pay-out ratio underscores the Group's objective to
continue to offer shareholders an attractive remuneration in the range of 50%
to 75% of Group share of net income.

2009-2012 OBJECTIVES: COMBINING GROWTH AND VISIBILITY

Growth objectives revised upwards

The Group believes that the outlook for the development of its
markets is solid despite the global economic downturn.

Given the excellent performance achieved in the 2008-2009
financial year, the Group is revising upwards its thee-year revenue
objectives. It is targeting revenues of more than EUR1 billion for the
2009-2010 financial year and a three-year CAGR of 7% over the period June
2009 to June 2012.

Profitability maintained at a high level

The Group is targeting EBITDA in excess of EUR780 million for
the 2009-2010 financial year. Its objective is to maintain a high EBITDA
margin in the range of 77% for each financial year to June 2012.

Pursuit of an active investment policy

With a view to leveraging its unique position in Europe and in
rapidly expanding markets in its Second Continent, the Group intends to
pursue an active investment policy with capital expenditure averaging EUR450
million a year for the period June 2009 to June 2012, in order to:

- Increase in-orbit resources, notably with the launch of four
satellites currently in construction which will be dedicated to
expanding and raising security at major positions serving rapidly
growing markets (36degrees East, 16degrees East, 7degrees East,
7degrees West).
- Operate new Ka-band resources on a large scale over Extended
Europe[20] with the multiple spotbeam KA-SAT satellite which is
scheduled to enter into service in the second half of the 2010-2011
financial year. Operating in a complementary frequency band to the Ku-
band, KA-SAT will deliver unmatched capacity in Europe for cost-
efficient consumer and professional broadband services, as well as
local and regional television.
- Initiate investments needed to replace three satellites launched
between 1998 and 2000.

Strengthening financial structure

The Group intends to strengthen its financial structure with a
net debt to EBITDA ratio maintained between 3x and 4 x..

Attractive shareholder remuneration

Over the period June 2009 to June 2012, the Group is committed
to sharing its profit development with its shareholders with a pay-out ratio
in the range of 50% to 75%.

CORPORATE GOVERNANCE

Michel de Rosen joined Eutelsat Communications on July 1, 2009
as Deputy Chief Executive Officer in order to collaborate closely with
Giuliano Berretta before taking over his position of Chief Executive Officer
following the General Assembly of Shareholders which will take place on
November 10, 2009.

Michel de Rosen declared on his appointment: "I am delighted
to join a Group which is a world-class reference for technical excellence and
innovation and whose teams are second to none in terms of competence and
commitment. I look forward to a close working relationship with Giuliano
Berretta and to further developing the strategy of success initiated under
his leadership ".

Giuliano Berretta will continue as Chairman of the Board of
Eutelsat Communications until the General Assembly of Shareholders approving
the annual accounts for the financial year ending June 30, 2011.

Documentation

Consolidated accounts are available at www.eutelsat.com

Analyst and Investor Meeting

Eutelsat Communications will hold an analyst and investor meeting on July
31, 2009 to present its financial results for the full year 2008-2009. The
meeting will take place at Group headquarters, 70 rue Balard, 75015 Paris,
starting at 10am.

The call-in numbers for audio (French and English) are +33-1-70-99-42-66
(French) and +44-207-806-1967 (English).

A replay will be available from July 31 from 2pm (Paris time) to August
7, midnight, by dialling +33-1-71-23-02-48 (French), access code: 3207647#,
and +44-207-806-1970 (English), access code: 4913783#.

Conference call

Eutelsat Communications will also hold a conference call in English for
analysts and investors on July 31. The call will begin at 4pm Paris time (New
York: 10am, London: 3pm). Call-in numbers are:

- 01-70-99-42-72 (from France)
- +44-207-138-0824 (from Europe)
- +1-212-444-0481 (from United States).

A replay of the call will be available from July 31 at 7pm (Paris time)
to August 7, midnight, by dialling:

- 01-71-23-02-48 (from France)
- +44-207-806-1970 (from Europe)
- +1-718-354-1112 (from United States).

Access code: 4873437#.

A presentation and consolidated accounts will be available on the Group's
website www.eutelsat.com from 8:00am (Paris time) on July 31, 2009 and the
webcast of the conference call will be available from August 1, 2009.

Financial calendar

The financial calendar below is provided for information
purposes only. It is subject to change and will be regularly updated.

- November 5, 2009: financial report for first quarter ended
September, 30, 2009.

- 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 June 2009, Eutelsat's satellites were broadcasting
almost 3,200 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 610 commercial,
technical and operational employees from 28 countries.

http://www.eutelsat.com

Appendix

Change in net debt (in millions of euros)

Twelve months ended June 30 2008 2009 Change
(%)
Net cash flow from operating activities 566.6 654.7 +15.6%
Capital expenditure (422.5) (416.6) -1.4%
Operating free cash flow 144.1 358.7[21] +149%
Interest and other fees paid, net (87.3) (102.8) +17.8%
Acquisition of minority interests (47.7) (7.5) -84.4%
Capital increase 0.1 - NM
Distributions to shareholders (including
minority interests) (138.9) (141.7) +2%
Other 3.2 (11.1) NM
Decrease (increase) in net debt (126.5) 95.6 NM

Revenues breakdown by application (in percentage of revenues)*

12 months ended 30 June 2008 2009
Video Applications 75.5% 73.3%
Data & Value-Added Services 17.7% 18.6%
........of which Data Services 13.7% 14.4%
.......of which Value-Added Services 4.0% 4.2%
Multi-usage 6.8% 8.1%
Total 100% 100%

*excluding other revenues and one-off revenues (EUR17.8 million in
2007-2008 and EUR12.5 million in 2008-2009)

Quarterly revenues by business application (financial year 2007-2008)

Three months ended
In millions of euros 30/09/2007 31/12/2007 31/03/2008 30/06/2008
Video Applications 158.1 161.2 164.9 165.2
Data & Value-Added Services 37.2 37.7 40.0 37.5
Multi-usage 14.5 15.0 14.2 14.3
Other 2.0 3.6 4.8 7.4
Sub-total 211.9 217.5 223.9 224.4
One-off revenues - - - -
Total 211.9 217.5 223.9 224.4

Quarterly revenues by business application (financial year 2008-2009)

Three months ended
In millions of euros 30/09/2008 31/12/2008 31/03/2009 30/06/2009
Video Applications 166.7 169.8 172.3 170.8
Data & Value-Added Services 41.1 43.2 42.3 46.4
Multi-usage 15.6 19.3 19.7 20.8
Other 3.2 4.5 2.2 0.8
Sub-total 226.7 236.8 236.5 238.8
One-off revenues - - - 1.8
Total 226.7 236.8 236.5 240.5

Estimated satellite launch schedule

Satellite Orbital position Estimated Transponders
anticipated launch
W7 36degrees East Q4 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) 7degrees West Q4 2011 50 Ku
7

Note: Satellites generally enter into service one to two months after
launch.

---------------------------------

[1] EBITDA is defined as operating income before depreciation,
amortisation and other operating income/charges (impairment charges, dilution
profits (losses), insurance compensations, etc.).

[2] Includes insurance proceeds of EUR120.5 million for the W2M
satellite. Excluding insurance proceeds operating free-cash flow increased by
65.3%.

[3] Excluding other revenues and one-off revenues, growth was 7.9%. At a
constant exchange rate and excluding one-off revenues growth was 6.7%

[4] Non-recurring revenues comprise late delivery penalties and outage
penalties

[5] Formerly HOT BIRD(TM) 10

[6] Central and Eastern Europe, Russia, Middle East, North Africa and
Sub-Saharan Africa.

[7] The D- STAR service provides Internet access and Virtual Private
Networks to enterprises and institutions in regions with inexistent or
unreliable terrestrial broadband infrastructure.

[8] The TOOWAY(TM) service, both in Ka-band and Ku-band, provides
broadband access to homes beyond range of terrestrial networks.

[9] Backlog represents future revenues from capacity lease agreements
(including contracts for satellites yet to be delivered). These capacity
lease agreements can be for the entire operational life of the satellites.

[10] Two other satellites approaching end of life are currently being
redeployed

[11] Formerly known respectively as HOT BIRD(TM) 7A et ATLANTIC BIRD(TM)

4

[12] See press release dated January 28, 2009

[13] Number of transponders in stable orbit, excluding spare capacity

[14] Number of transponders leased on satellites in stable orbit.

[15] For more detail, please refer to Group interim
consolidated accounts at http://www.eutelsat.com.

[16] Operating expenses is defined as the sum of cost of
operations and of sales & administrative expenses.

[17] EBITDA is defined as operating income before depreciation,
amortisation and other operating income/charges (impairment charges, dilution
profits (losses), insurance compensations, etc.).

[18] Comprises amortisation expense of EUR44.45 million corresponding to
the intangible asset "Customer Contracts and Relationships" identified during
the acquisition of Eutelsat S.A. by Eutelsat Communications.

[19] Net debt includes all bank debt and all liabilities from long-term
lease agreements, less cash and cash equivalents and marketable securities
(net of bank credit balances).

[20] Western Europe, Central and Eastern Europe, Russia, Central Asia,
Middle East, North Africa.

[21] Includes an insurance compensation of EUR121 million related to the
W2M satellite.

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

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, ffgautier@eutelsat.fr. Investors, Gilles Janvier, Tel. : +33-1-53-98-35-30, investors@eutelsat-communications.com

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