Eutelsat (Paris:ETL) has sold its interest in the EUTELSAT 25B satellite operated at 25.5 degrees East to the co-owner of the satellite, Es´hailSat, for a consideration of EUR 135 million, the company said.
Eutelsat´s share of the satellite generated FY2018 revenues of c.EUR 16 million in the video application.
The divestment of this non-core asset is in line with Eutelsat´s strategy of optimising its portfolio of businesses in the context of its policy of maximizing cash generation.
It has no impact on Eutelsat´s revenue objectives which are at constant perimeter, and will be absorbed within the Group´s EBITDA margin target. The discretionary free cash flow objective excludes the impact of the disposal.
Founded in 1977, Eutelsat Communications is one of the world´s satellite operators. With a global fleet of satellites and associated ground infrastructure, Eutelsat enables clients across Video, Data, Government, Fixed and Mobile Broadband markets to communicate effectively to their customers, irrespective of their location. For more about Eutelsat go to www.eutelsat.com