QUESTIONS / ANSWERS
:: Eutelsat Communications and the Stock Exchange
:: Eutelsat Communications and its Organisation
Eutelsat Communications and the Stock Exchange
:: At what price was Eutelsat Communications share offered on the stock exchange?:: Where can I find documents relative to the IPO of Eutelsat Communications?
:: Can I invest Eutelsat Communications stock in a PEA (Share Savings Account)?
:: Will I be charged management fees?
:: Is it possible to convert bearer shares to registered shares?
:: How are Eutelsat shareholders kept informed on the latest news from their company?
:: What dividend was approved by the Annual General Meeting of Shareholders which took place on November 8, 2011?
:: What is the history of dividends paid?
:: What is the capital structure of Eutelsat Communications?
:: What are the growth prospects for Eutelsat Communications?
:: What is the Group's net debt?
:: What is the mid-term level of net debt targeted?
At what price was Eutelsat Communications share offered on the stock exchange?
The first quotation of Eutelsat Communications' shares on Euronext Paris' Eurolist took place on December 2, 2005. The IPO price was 12 euros per share.
Where can I find documents relative to the IPO of Eutelsat Communications?
The reference document approved by the Autorité des Marchés Financiers (AMF) on October 10, 2005 (n° 05-710), and the offering memorandum (visa n° 05-818 as of November 28, 2005) are available on the Group website.
These documents can also be accessed on the website of the Autorité des Marchés Financiers: www.amf-france.org.
The information provided in these documents will enable you to understand the Group's activity, its economic and competitive environment, its growth strategy and the details of the financial operation.
These documents can also be sent on request to:
Eutelsat Communications
Investor Relations
70 rue Balard
75015 PARIS
FRANCE
Tel.: +33 (0) 1 53 98 35 30
E-mail: investors@eutelsat-communications.com
Can I invest Eutelsat Communications stock in a PEA (Share Savings Account)?
Yes. Eutelsat Communications stock can be held in a PEA.
Will I be charged management fees?
Your bank will charge management fees. We recommend you contact your financial intermediary for the exact amount of the relevant fees.
Is it possible to convert bearer shares to registered shares?
Yes, Eutelsat Communications stock can be converted into registered shares on request to your financial intermediary.
Eutelsat Communications registered shares service is managed by:
BNP PARIBAS Securities Services
CTS Assemblées
Les Grands Moulins de Pantin
9, rue du débarcadère
93761 Pantin Cedex
Téléphone : 0826 109 119 (0,15 €/m)
Fax : +33 (0) 1 40 14 58 90
How are Eutelsat shareholders kept informed on the latest news from their company?
Eutelsat Communications regularly informs shareholders on news and financial results via the press, the shareholder newsletter and in the Investor Relations section of its website www.eutelsat.com.
The Group also holds regular information meetings for shareholders.
Shareholders can also request information by contacting Group headquarters:
Eutelsat Communications
Investor Relations
70 rue Balard
F-75502 PARIS CEDEX 15
FRANCE
Tel.: +33 (0) 1 53 98 35 30
E-mail: investors@eutelsat-communications.com
What dividend was approved by the Annual General Meeting of Shareholders which took place on November 8, 2011?
The November 8, 2011 AGM approved the distribution of 0.90 euro per share, compared with 0.76 euro for fiscal year 2009-2010.
This amount which represents an increase of 18.4% over the previous year and a pay-out ratio of 58%, demonstrating Eutelsat’s willingness to regularly offer its shareholders an attractive remuneration.
What is the history of dividends paid?
For financial year 2010-2011 an amount of 0.90 euro was distributed per share.
The following amounts were distributed per share in previous financial years:
| Financial Year | Amount distributed per share |
| 2010-2011 | 0.90 euro paid November 22, 2011 |
| 2009-2010 | 0.76 euro paid November 16, 2010 |
| 2008-2009 | 0.66 euro paid November 19, 2009 |
| 2007-2008 | 0.60 euro paid November 18, 2008 |
| 2006-2007 | 0.58 euro paid November 14, 2007 |
| 2005-2006 | 0.54 euro paid November 15, 2006 |
What is the capital structure of Eutelsat Communications?
Eutelsat Communications’ capital is distributed as follows:
What are the growth prospects for Eutelsat Communications?
The Group now targets revenues in excess of €1.235 billion for fiscal year 2011-2012 and a 3-year CAGR above 7% for the three year period ending June 30, 2014.
EBITDA for the current year should be above € 955 million and the EBITDA margin should be above 77% for each fiscal year until 2014.
What is the Group's net debt?
At June 30, 2010, net debt was €2 424 million (compared with €2 326 million at 30 June 2009.
The net debt(1) to EBITDA ratio decreased, from 2.93 times a year ago to 2.37 times at June 30, 2011.
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, following the refinancing of the Eutelsat S.A. debt (96% held by Eutelsat Communications) in March 2010 for a total of €1.3 billion.
(1) Net debt includes all bank debt, bonds and all liabilities from long-term lease agreements, less cash and cash equivalents and marketable securities (net of bank credit balances).
What is the mid-term level of net debt targeted?
The level of debt targeted for the mid-term is a level which can give the company sufficient financial and strategic flexibility: targeted Net debt/EBITDA ratio is below 3.5x.
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