Ibadan, 3 October 2023 – Eutelsat Communications has announced that its entire issued share capital has been admitted to the Standard Segment of the Official List of the Financial Conduct Authority and trading on the Main Market for listed securities of the London Stock Exchange (LSE) under the ticker symbol: ETL.
The Eutelsat Group aims to leverage its unique GEO-LEO offering to position itself as a global leader in the space sector, addressing the growing need for satellite connectivity services across every corner of the globe.
The Group also expects to grow at a double-digit revenue CAGR over the medium-to-long term, reaching c. €2bn in 2027. Furthermore, it expects the Adjusted EBITDA for the new entity to grow at a double-digit CAGR over the same period, outpacing revenue growth. Eutelsat’s GEO fleet will consequently combine network density and high throughput with the low latency and ubiquity of OneWeb’s LEO constellation to offer customers global, fully integrated connectivity services.
Eva Berneke, the Group’s Chief Executive Officer, commented: “Eutelsat is among a limited number of listed equities offering exposure to the fast-growing Space Sector. Our admission to the London Stock Exchange will offer the opportunity to a wider section of investors and shareholders to participate in our exciting journey.”
The admission to trade comes after Eutelsat announced a partnership with Can Marine Systems, a provider of maritime systems in Asia. The collaboration aims to bring next-generation satellite communication services to the maritime sector across Asia. As a result, this would offer better connectivity and capabilities for maritime businesses operating at sea (cargo shipping, passenger ferries, and offshore) in this vast region.