Cash flow Eutelsat Communications

Equities

ETL

FR0010221234

Wireless Telecommunications Services

Real-time Euronext Paris Other stock markets 07:59:48 2024-09-10 EDT			5-day change	1st Jan Change
4.146 ^EUR	-2.40%		-2.40%	-2.45%

09-04	Eutelsat, MuxIP to Expand Distribution of Sports Channels Via Satellite Deal	MT
09-03	Eutelsat Enters Japan via Multi-year Deal with Japanese Conglomerate SoftBank	MT

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Published financial data: EUTELSAT COMMUNICATIONS

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2019	2020	2021	2022	2023
Revenues	1.32B	1.28B	1.23B	1.15B	1.13B
Total Revenues	1.32B	1.28B	1.23B	1.15B	1.13B
Cost of Goods Sold, Total	90.6M	89.7M	94.7M	93.2M	103M
Gross Profit	1.23B	1.19B	1.14B	1.06B	1.03B
Selling General & Admin Expenses, Total	198M	207M	217M	197M	203M
Depreciation & Amortization - (IS)	519M	531M	508M	482M	456M
Other Operating Expenses	-500K	-	-	-63M	-326M
Other Operating Expenses, Total	716M	738M	725M	616M	333M
Operating Income	514M	451M	414M	443M	695M
Interest Expense, Total	-88.6M	-72.7M	-73M	-70.2M	-70.2M
Interest And Investment Income	1.2M	900K	200K	7M	1.6M
Net Interest Expenses	-87.4M	-71.8M	-72.8M	-63.2M	-68.6M
Income (Loss) On Equity Invest.	-1.3M	-	-	-71.5M	-87.3M
Currency Exchange Gains (Loss)	3.3M	-4M	-16.1M	16.6M	-13.8M
Other Non Operating Income (Expenses)	-7.5M	-4.7M	-6M	-18.2M	-8.8M
EBT, Excl. Unusual Items	421M	370M	319M	307M	517M
Restructuring Charges	-	-	-6M	-7.2M	-
Merger & Related Restructuring Charges	-	-	-	-	-42M
Gain (Loss) On Sale Of Investments	43.6M	-	-8.8M	-10.9M	-
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-31.6M	-42.2M	-27.9M	-	-80M
Insurance Settlements	-	92.2M	-	-	-
Legal Settlements	-	-	-13.9M	-	-
Other Unusual Items	-	-13.9M	-10.4M	-	-
EBT, Incl. Unusual Items	433M	407M	252M	288M	395M
Income Tax Expense	76.3M	94.4M	24.2M	48.6M	66.5M
Earnings From Continuing Operations	357M	312M	228M	240M	328M
Net Income to Company	357M	312M	228M	240M	328M
Minority Interest	-16.6M	-14.6M	-14M	-9.1M	-13.4M
Net Income - (IS)	340M	298M	214M	231M	315M
Net Income to Common Incl Extra Items	340M	298M	214M	231M	315M
Net Income to Common Excl. Extra Items	340M	298M	214M	231M	315M
Per Share Items
Net EPS - Basic	1.46	1.28	0.93	1	1.27
Basic EPS - Continuing Operations	1.46	1.28	0.93	1	1.27
Basic Weighted Average Shares Outstanding	232M	232M	230M	230M	249M
Net EPS - Diluted	1.46	1.28	0.93	1	1.27
Diluted EPS - Continuing Operations	1.46	1.28	0.93	1	1.27
Diluted Weighted Average Shares Outstanding	232M	232M	230M	230M	249M
Normalized Basic EPS	1.06	0.94	0.81	0.79	1.25
Normalized Diluted EPS	1.06	0.94	0.81	0.79	1.25
Dividend Per Share	1.27	0.89	0.93	0.93	-
Payout Ratio	86.72	99.16	95.7	92.81	25.6
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	964M	913M	857M	863M	1.1B
EBITA	607M	549M	518M	543M	793M
EBIT	514M	451M	414M	443M	695M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	17.61	23.22	9.59	16.85	16.84
Total Current Taxes	113M	86.4M	56.2M	48.4M	112M
Total Deferred Taxes	-36.6M	8M	-32M	200K	-45.1M
Normalized Net Income	247M	217M	186M	183M	310M
Interest Capitalized	19.8M	19.9M	17.1M	16.2M	17.7M
Interest on Long-Term Debt	108M	15.8M	14.3M	11.9M	12.7M
Non-Cash Pension Expense	1.6M	1.4M	1.4M	900K	-600K
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., Other (Total)	1.4M	484K	1.39M	1.6M	300K
Total Stock-Based Compensation	1.4M	484K	1.39M	1.6M	300K

Fiscal Period: June	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.46B	832M	861M	680M	482M
Short Term Investments	83.4M	-	-	-	-
Total Cash And Short Term Investments	1.54B	832M	861M	680M	482M
Accounts Receivable, Total	334M	352M	262M	266M	221M
Other Receivables	22.4M	42.5M	26.6M	29.7M	40.6M
Total Receivables	356M	394M	288M	295M	261M
Inventory	3.9M	6.7M	8.1M	12.9M	13M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	25.4M	67.1M	69.8M	97.7M	428M
Total Current Assets	1.92B	1.3B	1.23B	1.09B	1.18B
Gross Property Plant And Equipment	8.08B	8.41B	8.31B	8.59B	8.45B
Accumulated Depreciation	-3.54B	-4B	-4.06B	-4.46B	-4.52B
Net Property Plant And Equipment	4.54B	4.41B	4.25B	4.13B	3.93B
Long-term Investments	13.6M	-	-	606M	501M
Goodwill	1.21B	1.21B	1.25B	1.3B	1.28B
Other Intangibles, Total	576M	515M	440M	377M	302M
Accounts Receivable Long-Term	30.2M	74.9M	37.7M	34M	31.8M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	2.7M	36.3M	7.6M	1.4M	15.3M
Other Long-Term Assets, Total	-	32.7M	71.5M	43M	164M
Total Assets	8.29B	7.58B	7.28B	7.57B	7.41B
Liabilities
Accounts Payable, Total	61.7M	73.3M	84.9M	78.3M	93.5M
Accrued Expenses, Total	-	-	-	-	-
Current Portion of Long-Term Debt	986M	858M	45.5M	338M	97.6M
Current Portion of Leases	75.1M	74.7M	24.1M	59.8M	47M
Current Income Taxes Payable	2.5M	22.8M	20.8M	23.6M	99.5M
Unearned Revenue Current, Total	59.5M	66.9M	69M	65.2M	68.5M
Other Current Liabilities	302M	173M	159M	473M	306M
Total Current Liabilities	1.49B	1.27B	403M	1.04B	712M
Long-Term Debt	2.87B	2.51B	3.1B	2.72B	2.84B
Long-Term Leases	507M	419M	412M	366M	272M
Unearned Revenue Non Current	129M	121M	118M	159M	269M
Pension & Other Post Retirement Benefits	-	-	-	17.6M	29.2M
Deferred Tax Liability Non Current	229M	264M	198M	185M	158M
Other Non Current Liabilities	199M	198M	361M	229M	55.8M
Total Liabilities	5.42B	4.78B	4.59B	4.71B	4.34B
Common Stock, Total	233M	230M	230M	230M	249M
Additional Paid In Capital	738M	718M	718M	718M	831M
Comprehensive Income and Other	1.71B	1.71B	1.67B	1.83B	1.9B
Total Common Equity	2.68B	2.66B	2.61B	2.78B	2.98B
Minority Interest	186M	145M	76.2M	83.4M	96.8M
Total Equity	2.87B	2.8B	2.69B	2.86B	3.07B
Total Liabilities And Equity	8.29B	7.58B	7.28B	7.57B	7.41B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	233M	230M	230M	230M	249M
ECS Total Common Shares Outstanding	233M	230M	230M	230M	249M
Book Value / Share	11.53	11.56	11.36	12.06	11.97
Tangible Book Value	899M	936M	928M	1.1B	1.39B
Tangible Book Value Per Share	3.87	4.07	4.03	4.8	5.6
Total Debt	4.44B	3.86B	3.58B	3.48B	3.26B
Net Debt	2.9B	3.03B	2.72B	2.8B	2.78B
Debt Equivalent of Unfunded Proj. Benefit Obligation	119M	98.2M	74.4M	12.2M	24.7M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	186M	145M	76.2M	83.4M	96.8M
Equity Method Investments, Total	-	-	-	606M	501M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Others	-	-	-	-	-
Machinery, Total	5.7B	6.03B	5.73B	5.98B	6.02B
Full Time Employees	1K	1.01K	1.13K	1.09K	1.07K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	104M	119M	96.5M	91.3M	101M
Order Backlog	4.4B	4.1B	4.4B	4B	3.4B

Fiscal Period: June	2019	2020	2021	2022	2023
Net Income	340M	298M	214M	231M	315M
Depreciation & Amortization - CF	426M	433M	404M	381M	358M
Amortization of Goodwill and Intangible Assets - (CF)	92.6M	98.2M	103M	100M	97.7M
Depreciation & Amortization, Total	519M	531M	508M	482M	456M
Amortization of Deferred Charges, Total - (CF)	7.3M	7.3M	7.7M	10.1M	7.7M
(Income) Loss On Equity Investments - (CF)	1.3M	-	-	71.5M	87.3M
Other Operating Activities, Total	16M	35.2M	66.8M	-32.6M	174M
Change In Accounts Receivable	-11M	-89.9M	81.1M	9.8M	-351M
Change In Accounts Payable	3.3M	10.7M	-7.3M	-1.2M	-74.3M
Change in Unearned Revenues	-27.9M	-12.8M	18.9M	30.8M	121M
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	848M	779M	889M	801M	735M
Capital Expenditure	-211M	-220M	-183M	-177M	-201M
Cash Acquisitions	-	-	-	-	-
Divestitures	67.8M	67.5M	41.5M	-	-
Investment in Marketable and Equity Securities, Total	-	-12.5M	-48M	-492M	-122M
Other Investing Activities, Total	-300K	85.6M	6.6M	86.1M	-9.8M
Cash from Investing	-143M	-79.7M	-183M	-583M	-333M
Long-Term Debt Issued, Total	1.4B	300M	1.2B	-	-
Total Debt Issued	1.4B	300M	1.2B	-	-
Long-Term Debt Repaid, Total	-912M	-1.02B	-1.57B	-102M	-370M
Total Debt Repaid	-912M	-1.02B	-1.57B	-102M	-370M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-20M	-	-	-
Common Dividends Paid	-295M	-295M	-205M	-214M	-80.6M
Common & Preferred Stock Dividends Paid	-295M	-295M	-205M	-214M	-80.6M
Other Financing Activities, Total	-178M	-291M	-99.9M	-96.8M	-148M
Cash from Financing	14M	-1.32B	-670M	-413M	-598M
Foreign Exchange Rate Adjustments	3M	600K	-6.5M	14.7M	-300K
Miscellaneous Cash Flow Adjustments	-	-200K	-	100K	-2M
Net Change in Cash	722M	-623M	29.1M	-181M	-198M
Supplemental Items
Cash Interest Paid	117M	83.2M	80M	78.3M	95.3M
Cash Income Tax Paid (Refund)	136M	85.9M	42.8M	25.2M	27.3M
Levered Free Cash Flow	562M	437M	646M	816M	285M
Unlevered Free Cash Flow	610M	475M	684M	850M	321M
Change In Net Working Capital	20.5M	118M	-99.3M	-267M	368M
Net Debt Issued / Repaid	488M	-717M	-365M	-102M	-370M

Fiscal Period: June	2019	2020	2021	2022	2023
Profitability
Return on Assets	4	3.55	3.48	3.73	5.8
Return on Total Capital	4.78	4.04	4	4.39	6.86
Return On Equity %	12.49	11.01	8.3	8.64	11.07
Return on Common Equity	12.73	11.14	8.12	8.56	10.95
Margin Analysis
Gross Profit Margin %	93.14	92.98	92.33	91.91	90.87
SG&A Margin	14.99	16.17	17.61	17.09	17.92
EBITDA Margin %	72.96	71.42	69.45	74.91	96.85
EBITA Margin %	45.93	42.96	41.95	47.17	70.1
EBIT Margin %	38.92	35.28	33.57	38.46	61.46
Income From Continuing Operations Margin %	27.02	24.42	18.49	20.83	29.02
Net Income Margin %	25.77	23.28	17.35	20.04	27.84
Net Avail. For Common Margin %	25.77	23.28	17.35	20.04	27.84
Normalized Net Income Margin	18.67	16.97	15.04	15.85	27.37
Levered Free Cash Flow Margin	42.56	34.2	52.35	70.84	25.19
Unlevered Free Cash Flow Margin	46.19	37.19	55.42	73.78	28.39
Asset Turnover
Asset Turnover	0.16	0.16	0.17	0.16	0.15
Fixed Assets Turnover	0.28	0.29	0.28	0.27	0.28
Receivables Turnover (Average Receivables)	3.9	3.89	4.02	4.37	4.65
Inventory Turnover (Average Inventory)	30.2	16.92	12.8	8.88	7.98
Short Term Liquidity
Current Ratio	1.29	1.02	3.04	1.05	1.66
Quick Ratio	1.27	0.97	2.85	0.94	1.04
Operating Cash Flow to Current Liabilities	0.57	0.61	2.2	0.77	1.03
Days Sales Outstanding (Average Receivables)