Eutelsat Communications Reports Double-digit Revenue and EBITDA Growth, Group Share of Net Income up More Than 25%

Eutelsat Communications Reports Double-digit Revenue and EBITDA Growth, Group Share of Net Income up More Than 25%

PARIS, July 28, 2011/PRNewswire-FirstCall/ --

Note: This press release contains audited consolidated financial
statements prepared under IFRS, adopted by the Board of Directors of
Eutelsat Communications on July 28, 2011 and reviewed by the Audit Committee
July 27, 2011. These accounts will be subject to the approval of
shareholders of Eutelsat Communications at the Annual General Shareholders
Meeting of November 8, 2011.

Another excellent year:

- Double-digit revenue growth: +11.5%, reaching EUR 1,168.1
million
- Strong profitability:
- EBITDA[1] at EUR 926.4 million, up 11.9%, 79.3% margin
- Group share of net income increased 25.6% to EUR 338.5
million

Long-term visibility: Backlog close to EUR 5 billion, representing more
than 4 years of revenues

Positive outlook:

- Revenue for FY 2011-2012 expected to be above EUR 1,235
million, with growth accelerating in the subsequent two years for a CAGR
above 7% for the three year period ending June 30, 2014.
- EBITDA expected to exceed EUR 955 million in FY 2011-2012, with
EBITDA margin target confirmed above 77% for each fiscal year until June
30, 2014.
- Investment programme stepped up to capture growth in dynamic
markets

Attractive shareholder remuneration: Board recommends distribution of
EUR 0.90 per share, up by 18.4%

The Board of Directors' of Eutelsat Communications (ISIN: FR0010221234 -
Euronext Paris: ETL), under the chairmanship of Giuliano Berretta, met today
and reviewed its financial results for the year ended June 30, 2011.

Twelve months ended June 30 2010 2011 Change
Key elements of consolidated income statement
Revenues EURm 1,047.2 1,168.1 +11.5%
EBITDA EURm 827.8 926.4 +11.9%
EBITDA margin % 79.0 79.3 +0.3pt
Group share of net income EURm 269.5 338.5 +25.6%
Diluted earnings per share EUR 1.224 1.539 +25.7%
Key elements of consolidated cash flow statement
Net cash flow from operating activities EURm 698.3 816.8 +17.0%
Capital expenditure EURm 494.4 485.9 -1.7%
Operating free cash flow[2] EURm 203.9 566.0 +177.5%
Key elements of financial structure
Net debt EURm 2,424 2,198 -9.3%
Net debt/EBITDA X 2.93 2.37 -
Backlog
Backlog EURbn 4.88 4.96 +1.6%

Commenting on the full year 2010-2011 results, Michel de Rosen, CEO of
Eutelsat Communications, said: "We are extremely pleased to deliver a second
consecutive year of double-digit growth. Expansion capacity launched over
the past two years has positioned Eutelsat to capture growth across all of
the geographies covered by the fleet and across all activities. This
performance is even more remarkable since the satellite fleet operated for
much of the year at a fill rate above 90%.

Two additional satellites are on track for launch in the September to
October 2011 timeframe which will reinforce our fleet's Ku-band capacity
from the second quarter of our current fiscal year onwards. We target
revenues in the current year above EUR1,235 million, with growth
accelerating in the subsequent two years to deliver top-line CAGR above 7%
for the three year period ending June 30, 2014. This growth will be coupled
with strong profitability and we target EBITDA for the current year to be
above EUR955 million, and we confirm our EBITDA margin target at above 77%
for each fiscal year until June 2014.

During that period we will pursue our investment plan aimed at
increasing capacity, including opening a new orbital position at
3degree(s)East, paving the way for sustainably profitable revenue growth
beyond 2014."

FURTHER ROBUST REVENUE GROWTH

Note: Unless otherwise stated, all growth indicators or comparisons are
made in comparison with the previous fiscal year or June 30, 2010. 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
(in EUR
Twelve months ended June 30 2010 2011 million) (in %)
Video Applications 742.0 786.5 +44.5 +6.0%
Data & Value Added Services 203.7 234.0 +30.3 +14.9%
Multi-usage 98.1 125.6 +27.4 +28.0%
Other revenues (0.6) 17.4 +18.1 NM
Sub-total 1,043.2 1,163.5 +120.3 +11.5%
Non-recurring revenues 4.0 4.7 +0.6 NM
Total 1,047.2 1,168.1 +120.9 +11.5%

All three business activities contributed to the strong performance of
the year. The Group is reaping the benefits of the expanded in-orbit
resources launched over the past two years, especially the full-year effect
of the W7 satellite which entered into service in January 2010, and serves
Russia and Africa. These resources allowed the Group to respond to
significant demand for satellite capacity needs in both developed markets in
Western Europe and high-growth markets in Central Europe, the Middle East,
Central Asia and Africa.

Other revenues of EUR 17.4 million related primarily to the favourable
contribution from the Group's foreign exchange hedging programme.
Non-recurring revenues of EUR4.7 million were made up mainly of indemnities
paid to Eutelsat with respect to penalties for late satellite delivery.

At constant euro-dollar exchange rates revenue growth for the year stood
at 10.0%.

VIDEO APPLICATIONS (68.6% of revenues)

Revenues from Video Applications rose 6.0% to EUR 786.5 million.

Eutelsat's long-term strategy of establishing video neighbourhoods
continued to drive growth in the Group's video business. This strategy
focuses on attracting anchor TV platforms to satellites dedicated to
specific regions to build a strong installed base of antennae that in turn
attract further new channels in a virtuous cycle of growth. Strong
commercial activity was generated notably at:

- The HOT BIRD(TM) position, Eutelsat's leading video
neighbourhood at 13degree(s) East, which reaches an audience of more
than 120 million satellite and cable homes across Europe, the Middle
East and North Africa, consolidated its business from 1,122 to 1,153 TV
channels through new and renewal contracts, notably in Italy, Poland and
Slovenia, with customers including Mediaset, Telewizja Polsat and STV
Slovenia.
- 36degree(s) East, the reference neighbourhood for Russian and
sub-Saharan African video markets, hosting the leading TV-platforms in
these regions (including NTV and Tricolor in Russia and DStv in Africa).
Increased revenues were driven by additional resources leased at this
neighbourhood on the W7 satellite. The number of TV channels broadcast
at 36degree(s) East grew from 525 to 663, up 26%.
- 7degree(s) West, addressing Middle East and North Africa video
markets, which reported continued strong demand for capacity from anchor
broadcast clients. This demand took the channel count at 7degree(s) West
to 368 from 321, representing 15% growth.

At June 30, 2011, Eutelsat's satellites were broadcasting 3,880
channels, up from 3,662, an increase of 218 new channels or 6%. The total
number of HD channels continued to grow, reaching 220 at June 30, 2011, up
by 65 or 42%.

DATA and VALUE-ADDED SERVICES (20.4% of revenues)

Data and Value-Added Services registered strong revenue growth of 14.9%
to EUR 234.0 million.

Data Services grew significantly, increasing 19.5%, to EUR 188 million.
In addition to Eutelsat's strong data services activity in Europe the fleet
is particularly well-positioned to service fast-growing markets in Africa
and the Middle East for applications that include corporate networks, GSM
backhaul and Internet backbone connectivity in regions where land-line
infrastructure is sparse or non-existent. This business benefited notably
from the full-year effect of additional capacity serving the Eurasian and
sub-Saharan Africa markets on the W7 satellite. Customers who contributed
the most to the growth were Arqiva, Telespazio, Hughes Network Systems and
Horizon Satellite Services, while renewals, extensions or new contracts were
signed with Speedcast, Vizada networks and RSCC.

Value-Added Services, which include fixed and mobile businesses,
delivered stable revenues of EUR46 million. The D-Star revenues for
professional broadband service to the enterprise market grew, especially in
Africa and the Middle East while, Tooway(TM), the second main activity of
Value-Added services entered a transition phase in the second half of the
year toward the new generation offer provided through the KA-SAT satellite.
Operational since May 31st, the KA-SAT satellite is completely operational
and offers a range of Internet access services to consumers and
professionals in Europe and large sections of the Mediterranean Basin where
coverage from terrestrial networks is insufficient.

The Tooway(TM) offer is being marketed via Eutelsat's network of
regional distributors and re-sellers. Its first month performance was in
line with the Group's expectations, and as at June 30, 2011 firm service
commitment contracts had been signed with 13 distributors for the new
Tooway(TM) offer in key markets.

MULTI-USAGE (11.0% of revenues)

Revenues from Eutelsat's Multi-usage activity, comprising capacity
leased for governments and administrations, grew robustly during the year,
rising 28.0% to EUR 125.6 million. This marked the third consecutive year of
double-digit revenue growth for this business. The Eutelsat fleet is
particularly well-placed to respond to demand for coverage in regions
including Central Asia and the Middle East with connectivity to Europe.

OPERATIONAL AND LEASED TRANSPONDERS

Throughout most of the year Eutelsat's fleet was operating at a fill
rate of above 90%, dropping to 79.2% only in the fourth quarter following
the entry into the fleet of KA-SAT on May 31st and the renamed satellite
Eutelsat 3A representing capacity leased from a third party.

As at June 30, 2011 the Eutelsat fleet operated 742 transponders,
compared to 652 a year earlier.

Ku-band capacity will remain restrained in the beginning of the fiscal
year, until the entry into service of ATLANTIC BIRD(TM) 7 and W3C, adding
significant new capacity. Both of these satellites are scheduled for launch
between September and October of this year.

June 30, 2009 June 30, 2010 June 30, 2011
Number of operational
transponders[3] 589 652 742
Number of leased
transponders[4] 523 570 588
Fill rate 88.8% 87.5% 79.2%

Note: KA-SAT's 82 spot beams are considered transponder equivalents and
its specific fill rate is considered to be at 100% when 70% of the capacity
is taken up. Eutelsat 3A entered the fleet in the fourth quarter and is
currently using 7 operational transponders.

BACKLOG CLOSE TO EUR5 BILLION

The backlog amounted to EUR 4.96 billion as at June 30, 2011. The
weighted average residual life of contracts in the backlog is 7.5 years.
Based on 2010-2011 revenues, the backlog is equivalent to 4.2 times annual
revenues. The Group's backlog represents future revenues from capacity lease
agreements, including contracts for satellites not yet in service. These
capacity lease agreements can be for the entire operational life of the
satellites.

Backlog main indicators:

As of June 30 2009 2010 2011
Value of contracts (in billions of euros) 3.94 4.88 4.96
In number of annual revenues based on last
fiscal year 4.2 4.7 4.2
Weighted average residual life of contracts (in
years) 7.8 8.0 7.5
Share of Video Applications 92% 92% 91%

strong FINANCIAL performance

EBITDA margin maintained at the highest level among leading satellite
operators

EBITDA registered a strong increase of 11.9% to EUR 926.4 million thanks
to an excellent sales performance and ongoing tight cost control and despite
the increase of resources dedicated to supporting the development of
consumer-related offers (Tooway(TM), Fransat, KabelKiosk). This was
significantly above the initial objective of more than EUR 875 million set
in July 2010.

Operating expenses increased 10.2%, lower than revenue growth, leading
to an EBITDA margin of 79.3%, slightly above the 79.0% level for 2009-2010.

Group share of net income rose sharply to EUR 338.5 million (+25.6%),
reflecting:

- The increase of EUR 136.6 million in operating income,
thanks to the strong EBITDA and to a lower level of satellite
depreciation;
- A limited increase in financial expenses, linked to the
full-year effect of a hedging contract dating from 2006 on Eutelsat
Communications' debt starting in April 2010.

The loss of the W3B satellite had a limited impact on the financial
performance of the company as the entire insurance proceeds, EUR 235.1
million, were received as of February 16, 2011.

Extract from the consolidated income statement (in millions of euros)[5]

Twelve months ended June 30 2010 2011 Change (%)
Revenues 1,047.2 1,168.1 +11.5%
Operating expenses[6] (219.4) (241.7) +10.2%
EBITDA 827.8 926.4 +11.9%
Depreciation and amortisation[7] (313.4) (280.5) -10.5%
Other operating income (charges) (5.8) (0.8) -87.1%
Operating income 508.6 645.2 +26.9%
Financial result (100.6) (109.2) +8.5%
Income tax expense (143.2) (199.0) +39.0%
Income from associates 17.8 17.8 -
Portion of net income attributable to
non-controlling interests (13.0) (16.3) +25.1%
Group share of net income 269.5 338.5 +25.6%

CONTINUED HIGH LEVEL OF NET CASH FLOW FROM OPERATING ACTIVITIES

Net cash flow from operating activities rose to EUR 816.8 million, close
to 70% of revenues

The Group continued to generate high cash flows from its operating
activities, up EUR 118.5 million (+17.0%), which included a positive working
capital effect. Net cash flow from operating activities represented close to
69.9% of revenues, compared to 66.7% at June 30, 2010.

Operating free cash flow rose to EUR 566.0 million, positively impacted
by two non-recurring items

Operating free cash flow almost tripled (+177.5%) to EUR 566.0 million,
despite the higher level of investments in satellites and other tangible
assets which increased EUR 51.6 million to reach EUR 545.9 million. This
performance was partly due to the cash inflow from Eutelsat's EUR 60.0
million portion of the capital reduction of the Solaris Mobile joint
venture, and partly to the EUR 235.1 million received from insurance for the
loss of the W3B satellite.

Without these two non-recurring items operating free cash flow would
have increased by a very solid 32.8%.

Strengthening of Group financial structure

The net debt[8] to EBITDA ratio decreased, from 2.93 times a year ago to
2.37 times at June 30, 2011, despite increased investments and distribution
to shareholders. This was partially due to the positive effect of the two
non-recurring cash items mentioned above.

Net debt to EBITDA ratio

Change
As of June 30 2010 2011 (EURm)
Net debt at the beginning of the
period EURm 2,326 2,424 +4.2%
Net debt at the end of the
period EURm 2,424 2,198 -9.3%
Net debt / EBITDA X 2.93x 2.37x

In June 2011, the Group opted to prepay EUR 150 million of the EUR 1,615
million Term Loan at the Eutelsat Communications level to optimise its
financing costs.

Following the successful refinancing of the Eutelsat S.A. debt in March
2010, and the prepayment described above, the Group's financial debt now
comprises:

- EUR 1,465 million senior unsecured credit facility, with
maturity ending in June 2013, issued by Eutelsat Communications;
- EUR 300 million senior unsecured revolving credit facility
(undrawn as of June 30, 2011), with maturity ending in June 2013, issued
by Eutelsat Communications;
- EUR 850 million senior unsecured bonds bearing coupon of 4.125%,
with maturity ending in March 2017, issued by Eutelsat S.A.;
- EUR 450 million senior unsecured revolving credit facility
(undrawn as of June 30, 2011), with maturity ending in March 2015,
issued by Eutelsat S.A.

The average debt maturity for the Group is 3.8 years as of June 30, 2011
compared to 4.8 years as of June 30, 2010.

The average cost of debt drawn by the Group increased to 4.42% (after
hedging) in 2010-2011 compared with 3.61% in 2009-2010. The increase is due
to the full year impact of the floating to fixed interest rate swaps on the
Eutelsat Communications Term Loan set up in 2006 which came into effect in
April 2010.

18.4% INCREASE IN DISTRIBUTION TO SHAREHOLDERS

On July 28, 2011 the Board of Directors decided to submit for the
approval of shareholders at the November 8, 2011 AGM a distribution of 0.90
euro per share, compared with 0.76 euro for fiscal year 2009-2010.

This represents an increase of 18.4% over the previous year and a
pay-out ratio of 58%, demonstrating Eutelsat's commitment to offering an
attractive level of remuneration to its shareholders.

MEDIUM-TERM OUTLOOK: GROWTH, PROFITABILITY AND VISIBILITY

The Group's short and medium-term outlook (from July 1, 2011 to June 30,
2014) reflects a new phase of the deployment plan with capacity entering
into service in the second quarter of the current year which targets
fast-growing markets. Consequently, revenue growth should be moderate in the
first half of the current year and accelerate in the second half and into
years two and three of the outlook period.

Solid Medium-term growth outlook

The Group now targets revenues of EUR 1,235 million for fiscal year
2011-2012 with growth accelerating in the subsequent two years to deliver a
3-year CAGR above 7% for the three year period ending June 30, 2014.

Objective of high level profitability

EBITDA for the current year should be above EUR 955 million and the
EBITDA margin should be above 77% for each fiscal year until 2014.

Active and targeted investment policy

With the aim of leveraging its unique positioning in Western Europe and
coverage in rapidly growing markets, the Group will pursue the next phase of
an active and targeted investment policy with average capital expenditure of
EUR 550 million per annum over the fiscal years until 2014. The increase
from previous levels reflects mainly the investment in Eutelsat 3B at
3degree(s)East announced today as well other projects under consideration.

Sound financial structure

The Group intends to maintain a sound financial structure targeting a
net debt to EBITDA ratio lower than 3.5x, in order to keep its investment
grade credit ratings attributed by Moody's and Standard & Poor's.

Attractive shareholder remuneration

Over the period fiscal years 2012 - 2014, the Group is committed to
share its profits with its shareholders targeting a pay-out ratio in the
range of 50% to 75%.

CONTINUATION OF IN-ORBIT RENEWAL AND EXPANSION PROGRAMME

Eutelsat continues to pursue its investment programme that will meet
demand for transponder capacity in some of the sector's fastest-growing
markets including Central Europe, the Middle East, Africa and bridging
connectivity to Asia and Latin America. Seven satellites are currently under
construction or commissioned. These satellites are scheduled to be launched
between September 2011 and June 2014, and once operational, will bring
nearly 20% expansion transponder capacity to Eutelsat's fleet. Based on the
outlook presented above, our renewal and expansion plan should allow us to
maintain a ratio of capital expenditure to revenues in the 40-50% range, in
line with the past 3-year average of 44%.

The ATLANTIC BIRD(TM) 7 and W3C satellites are preparing for launches in
the first half of the current fiscal year:

- ATLANTIC BIRD(TM) 7 is on track to launch in September 2011.
To be located at 7degree(s) West, its mission is to replace the ATLANTIC
BIRD(TM) 4A satellite and increase resources to address a key
neighbourhood serving digital broadcasting markets in the Middle East
and North Africa.
- W3C is scheduled for launch between September and October 2011
and will be located at 16degree(s) East, to serve the video markets of
Central Europe and in the French-speaking Indian Ocean islands and
provide new capacity for data services in Africa.

Five satellites to be launched between September 2012 and March 2014:

- W6A has a mission to replace the W6 satellite at
21.5degree(s) East, a core neighbourhood anchored for data, professional
video and government services across Europe, North Africa, the Middle
East and Central Asia;
- W5A has a mission to replace the W5 satellite at 70.5degree(s)
East to serve a range of professional applications that include
government services, broadband access, GSM backhauling and professional
video exchanges in Europe, Africa and Central and South-East Asia;
- EUROBIRD(TM) 2A is being built in the framework of a partnership
with ictQATAR, representing the state of Qatar. Its mission will be to
replace the EUROBIRD(TM) 2 satellite at 25.5degree(s) East. It will
diversify resources at this orbital position by expanding Ku-band
capacity and adding new Ka-band capacity;
- W3D will be co-positioned with W3A satellite at 7degree(s) East.
It will increase in-orbit security and inject new capacity to capture
business opportunities in Europe, the Middle East, Africa and Central
Asia;

- Eutelsat 3B will reinforce capacity at 3degree(s)East to
cover Europe, Africa, the Middle East and Central Asia as well as parts
of South America, notably Brazil. This orbital position was recently
opened by the leased satellite Eutelsat 3A.

CORPORATE GOVERNANCE

In 2011, the Board of Directors of Eutelsat Communications co-opted two
new directors:

The Fonds Strategique d'Investissement, represented by Thomas Devedjian,
was co-opted by the Board of Directors on February 17, replacing CDC
Infrastructures (represented by Jean Bensaid) who resigned following the
transfer of CDC Infrastructures' holding in Eutelsat Communications to the
Fonds Strategique d'Investissement.

Abertis Telecom, represented by Marta Casas Caba, was co-opted by the
Board of Directors on May 27, replacing Carlos Espinos Gomez who resigned
when he became CEO of Hispasat. Marta Casas Caba holds the position of Vice
General Secretary of Abertis Group.

The nominations will be submitted for approval to the next Ordinary
General Meeting of Shareholders on November 8, 2011.

RECENT EVENTS

EUTELSAT POWERS UP A NEW ORBITAL POSITION TO DRIVE EXPANSION IN HIGH
GROWTH MARKETS

Eutelsat Communications today announced that it is expanding its
commercial response to high-growth video, data, telecom and broadband
markets with the opening of business at the 3degree(s) East orbital
position. To support further long-term expansion, Eutelsat has selected
Astrium to build a tri-band satellite, which will increase and diversify its
resources for markets in Africa, the Middle East, Central Asia and South
America. Called Eutelsat 3B, the satellite will operate in C, Ku and
Ka-bands and be launched in early 2014.

In advance of Eutelsat 3B, resources on a satellite now called Eutelsat
3A were deployed this month to 3degree(s) East. This capacity is able to
deliver users powerful coverage of Europe and North Africa for services that
include GSM backhaul, data networks, IP backbone connectivity and maritime
applications.

APPOINTMENTS: MICHEL AZIBERT JOINS EUTELSAT AS DEPUTY CEO, JEAN-PAUL
BRILLAUD TO BE PROPOSED AS BOARD MEMBER

The Board of Eutelsat Communications today appointed Michel Azibert to
the post of Deputy CEO and corporate officer on the recommendation of Michel
de Rosen, the Group's CEO.

Michel Azibert will succeed Jean-Paul Brillaud following the General
Assembly of shareholders of Eutelsat Communications of 8 November, at which
point Jean-Paul will relinquish his operational role as deputy CEO. Michel
Azibert will join Eutelsat on 5 September from TDF, where he is currently
Deputy CEO, to work closely with Jean-Paul during September and October in
order to ensure a smooth transition.

Eutelsat also announced that the Fonds Strategique d'Investissement
(FSI) will propose that the Board of Eutelsat Communications submits a
resolution at the General Assembly of shareholders of 8 November 2011 to
nominate Jean-Paul Brillaud as a Board member.

Documentation

Consolidated accounts are available at http://www.eutelsat.com in
the Investors section

Results presentation meeting to analysts and investors

Eutelsat Communications will hold a meeting for analysts and investors
on Friday July 29, 2011 to present in French its financial results for the
full year 2010-2011.

Conference call in English

Eutelsat Communications will also hold a conference call in English for
analysts and investors on July 29, 2011. The call will begin at 3:15 p.m.
Paris time (New York: 9:15 a.m., London: 2:15 p.m.).

This conference call will be webcast live from the home page of the
Investor Relations section at http://www.eutelsat.com. It can also be
accessed via the following telephone numbers:

- (0)1 70 99 42 81 (from France)
- +44 207 136 2055 (from Europe)
- +1 212 444 0895 (from the United States).

A replay of the call will be available from July 29, 2011 at 8:00 p.m.
(Paris time) to August 5, 2010 midnight (Paris time), by dialling:

- 01 74 20 28 00 (from France)
- +44 207 111 1244 (from Europe)
- +1 347 366 9565 (from the United States).
- Access code: 2243210#.

A presentation and consolidated accounts will be available on the
Group's website (http://www.eutelsat.com) from 7:30 a.m. (Paris time) on
July 29, 2011.

Financial calendar

The financial calendar below is provided for information purposes only.
It is subject to change and will be updated regularly. Unless otherwise
stated, publication is after close of market on the day announced below.

- November 3, 2011: financial report for first quarter ended
September, 30, 2011.
- November 8, 2011: Annual Shareholders Meeting.
- February 16, 2012: earnings for the first half ended December
31, 2011.
- May 10, 2012: financial report for third quarter ended March 31,
2012.
- July 30, 2012: earnings for the full year ended June 30, 2012

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 2011, Eutelsat's satellites were
broadcasting more than 3,800 television channels. More than 1,100 channels
broadcast via its HOT BIRD(TM) video neighbourhood at 13 degrees East which
serves over 120 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 access to high speed internet 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 just over 700 commercial, technical and operational employees from 30
countries.

http://www.eutelsat.com

Appendix

Quarterly revenues by business application (financial year 2009-2010)

Three months ended
In millions of euros 30/09/2009 31/12/2009 31/03/2010 30/06/2010
Video Applications 180.8 180.6 189.6 191.0
Data & Value-Added Services 47.7 48.7 52.0 55.3
Data 36.9 37.3 40.9 42.2
Value-Added Services 10.7 11.5 11.0 13.1
Multi-usage 22.9 21.5 25.1 28.6
Other 1.7 1.0 0.7 (4.0)
Sub-total 253.0 251.8 267.4 270.9
One-off revenues - 3.2 0.9 -
Total 253.0 255.0 268.3 270.9

Quarterly revenues by business application (financial year 2010-2011)

Three months ended
In millions of euros 30/09/2010 31/12/2010 31/03/2011 30/06/2011
Video Applications 195.5 196.5 198.5 195.9
Data & Value-Added Services 58.9 58.0 58.9 58.3
Data 47.2 45.9 47.3 47.6
Value-Added Services 11.7 12.1 11.5 10.7
Multi-usage 28.8 28.6 32.6 35.6
Other 2.4 4.5 3.2 7.3
Sub-total 285.6 287.5 293.2 297.1
One-off revenues - 2.7 2.0 -
Total 285.6 290.2 295.2 297.1

Note: At a constant euro-dollar exchange rate, revenue growth would have
been 9.1% in Q4 2010-2011 compared with Q4 2009-2010.

Revenue breakdown by application (in percentage of revenues)*

Twelve months ended June 30 2010 2011
Video Applications 71.1% 68.6%
Data & Value-Added Services 19.5% 20.4%
........of which Data Services 15.1% 16.4%
........of which Value-Added Services 4.4% 4.0%
Multi-usage 9.4% 11.0%
Total 100.0% 100.0%

*excluding other revenues and one-off revenues (EUR3.4 million in FY
2009-2010 and EUR22.1 million in FY 2010-2011)

Change in net debt (in millions of euros)

Full-year Full-year
ending ending
Period ending 30/06/2010 30/06/11
Net cash flows from operating activities 698.3 816.8
Capital expenditure (494.4) (485.9)
Insurance indemnities on property and equipment - 235.1
Operating free cash flows[9] 203.9 566.0
Interest and other fees paid, net (75.4) (109.3)
Acquisition of non-controlling interests (6.7) (7.8)
Distributions to shareholders (including
non-controlling interests) (156.2) (177.1)
Non-recurring expenses related to Eutelsat
refinancing (54.1) -
Acquisition of treasury shares - (13.7)
Other (9.3) (31.6)
Decrease (increase) in net debt (97.8) 226.5

Estimated satellite launch schedule

Satellite Estimated launch Transponders
ATLANTIC BIRD(TM) 7 September 2011 50 Ku
W3C September - October 2011 53 Ku/3 Ka
September - November
W6A 2012 40 Ku
W5A October - December 2012 48 Ku
W3D January - March 2013 53 Ku/3 Ka
EUROBIRD(TM) 2A April - June 2013 16 Ku/7 Ka
Eutelsat 3B January - March 2014 51 (Ku, Ka, C)

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

* Partnership satellite with ictQATAR, transponders indicated for
Eutelsat portion only

1. EBITDA is defined as operating income before depreciation and
amortisation, impairments and other operating income/(expenses)

2. Amount as of June 30, 2011 includes cash payment received from
insurance for the loss of satellite W3B for EUR235.1 million

3. Number of transponders on satellites in stable orbit, back-up
capacity excluded

4. Number of transponders leased on satellites in stable orbit

5. For more detail, please refer to Group consolidated financial
statements at www.eutelsat.com.

6. Operating expenses is defined as the sum of operating costs and of
selling, general & administrative expenses.

7. Comprises amortisation expense of EUR 44.5 million corresponding to
the intangible asset "Customer Contracts and Relationships" identified
during the acquisition of Eutelsat S.A. by Eutelsat Communications.

8. Net debt includes all bank debt, bonds and all liabilities from
long-term lease agreements, less cash and cash equivalents (net of bank
credit balances).

9. 2011 amount includes the cash payment received from insurance for the
loss of satellite W3B for EUR235.1 million

Source: Eutelsat Communications

For further information: Press: Vanessa O'Connor, Tel. : +33-1-53-98-37-91, voconnor@eutelsat.fr ; Frédérique Gautier, Tel. : +33-1-53-98-37-91, fgautier@eutelsat.fr ; Analysts and Investors: Lisa Finas, Tel. : +33-1-53-98-35-30, investors@eutelsat-communications.com ; Léonard Wapler, Tel. : +33-1-53-98-31-07, investors@eutelsat-communications.com

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Profile: intent