Eutelsat Announces the End of the Transaction to Dispose of its Passive Ground Segment Infrastructure Assets

Eutelsat (ISIN: FR0010221234 – Euronext Paris / London Stock Exchange: ETL) announces that the transaction currently underway for the disposal of its passive ground segment infrastructure assets to private equity investor, EQT Infrastructure VI, will not proceed, as all conditions precedent have not been satisfied.

The net proceeds attributable to Eutelsat from the transaction would have been in the region of €550m, while the negative annualized impact on adjusted EBITDA associated with the service agreement entered into with the prospective buyer amounted to €75-80m.

The non-completion of the transaction has no impact on Financial Objectives for FY 2025-26, with the exception of Net Debt to EBITDA which is now expected to stand at around 2.7 times at the end of the Financial Year (versus 2.5 times previously).The EBITDA margin for FY 2028-29 is now expected in the region of 65% (versus c.60% previously).

The non-completion of the transaction does not affect Eutelsat’s ability to fund the capital expenditure related to its strategic growth trajectory.