Eutelsat has sold its interest in the EUTELSAT 25B satellite for €135 million to co-owner of the bird, Qatar’s Es’hailSat which will continue to operate the satellite at 25.5 degrees East.
Based on the SSL 1300 platform of Space Systems/Loral, the EUTELSAT 25B was designed to serve broadcasters, businesses and public agencies in the Middle East, North Africa and Central Asia via capacity in the Ku and Ka-bands. The satellite was launched in 2013 as part of Es'hailSat’s programme to meet the rapidly growing communications needs in the region.
Eutelsat said that its share of the satellite generated revenues of €16 million in the video application space for 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 maximising cash generation,” Eutelsat said. “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.”
The discretionary free cash flow objective excludes the impact of the disposal, Eutelsat said.