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Eutelsat takes company-wide measures to counter slow market

2016-06-27 11:41:00| Telecompaper Headlines

(Telecompaper) Eutelsat has announced a major reorganisation. CEO Rodolphe Belmer noted slowing momentum for traditional businesses within the fixed satellite services sector and said the company must adapt its strategic priorities and financial objectives. Belmer said the company's immediate priority will be to maximize the free-cash-flow generation of its core businesses, with the objective of returning to broad top line stability in full year 2017-2018. To achiever this, the company will reduce capex, reshuffle debt, and streamline assets, and then focus on returning to growth.

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