Eutelsat sells share in satellite for $156m

Eutelsat sells share in satellite for $156m

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Satellite communications provider Eutelsat has offloaded its share in a Middle East and Africa satellite to launch partner Es’hailSat for $156.1 million.

France-based Eutelsat launched the Eutelsat-25B satellite in August 2013 on an Ariane 5 rocket as part of an agreement with Es’hailSat, marking the Qatari company’s first launch.

The satellite, which was built by SSL, carries Ku-band and Ka-band capacity for television, broadcasting, and connectivity services in the Middle East and Northern Africa.

The satellite generated around €16 million for Eutelsat in its financial year 2018, but divestment of the asset is “in line with Eutelsat’s strategy of optimising its portfolio of businesses in the context of its policy of maximizing cash generation”, Eutelsat explained in a statement.

“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,” it added.

For Es’hailSat, it means the company now wholly owns the satellite as it is preparing to launch a second one. According to Space News ES’hailSat bought a second satellite from Mitsubishi Electric back in 2014, and this is due to launch later this year.

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