Eutelsat: disposal of stake in satellite
(CercleFinance.com) - Eutelsat announced on Thursday that it has sold the share it held in the Eutelsat 25B satellite to its joint-owner, Es'HailSat, for 135 million euros.
According to the group, this stake generated sales of around 16 million euros over fiscal year 2018.
"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," Eutelsat said.
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According to the group, this stake generated sales of around 16 million euros over fiscal year 2018.
"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," Eutelsat said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.