PR Newswire/Les Echos/
Eutelsat Communications' Annual General Meeting of shareholders of
8 November 2012
Paris, 8 November 2012
All resolutions approved including:
* Fiscal 2011-2012 accounts
* Dividend of 1 euro per share, up 11% on dividend for 2010-2011
* By-laws revised to comply with corporate governance best practice for
directors' term of office: reduced from six to four years
* Appointment of Miriem Bensalah Chaqroun and Elisabetta Oliveri as
The Ordinary and Extraordinary Annual General Meeting of Shareholders of
Eutelsat Communications (Euronext Paris: ETL) was held today in Paris under
the chairmanship of Jean- Martin Folz, Chairman of the Board. All resolutions
put to the vote were approved, including the accounts for fiscal 2011-2012 and
the proposed change to company by-laws.
Shareholders also approved the proposal to distribute 1 euro per share, an
increase of 11% over the previous year. This distribution, which represents
a pay-out ratio of 67%, will be paid on 22 November 2012.
Two women have been appointed to the Board as independent directors:
Miriem Bensalah Chaqroun (a Moroccan national) holds an MBA from the University
of Dallas (Texas). She is CEO of Les Eaux Minérales d'Oulmès (Holmarcom Group,
of which she is also a Board member) and a board member of Bank Al Maghrib
(the National Central and Reserve Bank of Morocco). She heads Morocco's
employers' union, the Confédération Générale des Entreprises du Maroc.
Elisabetta Oliveri (an Italian national) is a graduate in electronic
engineering from the University of Genoa (Italy). She is CEO of Gruppo Fabbri
Vignola and a Board member of Gruppo Editoriale L'Espresso, Azienda Trasporti
Milano and SNAM (ENI Group).
Michel de Rosen, Chief Executive Officer, commented on the 2011-2012 financial
results: "Eutelsat Communications continues to deliver profitable growth, with
revenues up 4.6% and the highest EBITDA margin among leading satellite
operators. Our order backlog exceeded EUR5 billion, equivalent to 4.3 times
annual revenues, lending high long-term visibility. Demand for satellite
capacity across our footprint remains strong and we continue to optimise our
fleet of current and upcoming satellites in order to capture growth in video,
data and broadband markets in Europe, the Middle East, Africa and Asia. We
remain committed to delivering profitable growth and shareholder value,
targeting an EBITDA margin of around 77% in each of the next three years, and
upgrading our dividend policy, with a payout ratio of 65-75% from the previous
floor of 50%."
Jean-Martin Folz, Chairman of the Board, commented on the appointment of new
Board members: "I am delighted to welcome two additional women to our Board.
The exceptional professional and international experience of both Miriem
Bensalah Chaqroun and Elisabetta Oliveri will be a strong asset to our Group."
Financial calendar for 2012-2013
- February 7, 2013: earnings for the first half ended December 31, 2012
- May 7, 2013: revenues for third quarter ended March 31, 2013
- July 30, 2013: earnings for the full year ended June 30, 2013
About Eutelsat Communications
Eutelsat Communications (Euronext Paris: ETL, ISIN code: FR0010221234) is the
holding company of Eutelsat S.A. With capacity commercialised on 29 satellites
that provide coverage across Europe, as well as the Middle East, Africa and
significant parts of Asia and the Americas, Eutelsat is one of the world's
three leading satellite operators. As of 30 September 2012 Eutelsat's
satellites were broadcasting more than 4,400 television channels to over
200 million cable and satellite homes in Europe, the Middle East and 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 high speed Internet services through teleports in France and Italy
that serve consumers, 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 750 commercial, technical
and operational professionals. This culturally diverse staff comprises
employees from 30 countries. www.eutelsat.com
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Investors and analysts
Lisa Finas Tel: +33 1 53 98 35 30
Leonard Wapler Tel. : +33 1 53 98 31 07
www.eutelsat.com - Follow us on Twitter @Eutelsat SA and Facebook Eutelsat.SA
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-0- Nov/09/2012 08:42 GMT
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