Eutelsat Secures Capital and Strategic Partnership in Dual Announcement

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The Eutelsat Group executed two significant strategic moves today. Trading commenced on the London Stock Exchange for new shares issued via a heavily oversubscribed capital increase. Concurrently, the group's subsidiary, Eutelsat Network Solutions, established a key strategic partnership with Intellian Technologies focused on military satellite communications. The company's shares are currently trading at €1.88, a level reflecting the dilution from the issuance of nearly 496 million new shares.

In a parallel development, Eutelsat Network Solutions unveiled a global cooperation agreement with Intellian Technologies. The alliance centers on the portable OW7MP Manpack satellite terminal, engineered specifically for the Eutelsat OneWeb Low-Earth-Orbit (LEO) network. This hardware is designed for government and military end-users who require reliable, low-latency communication in challenging operational environments.

Eutelsat will manage the worldwide launch of the terminal. This deal represents a concrete step toward monetizing the company's investments in OneWeb within the lucrative business-to-government (B2G) segment, identified as a critical driver for future revenue expansion.

Capital Increase Finalized, Strengthening Balance Sheet

With the start of trading in London, Eutelsat concludes its extensive capital-raising initiatives. The new shares had already been listed on Euronext Paris yesterday. Strong institutional investor demand, evidenced by the capital increase being 133% oversubscribed, indicates market confidence in the strategic direction under CEO Jean-François Fallacher.

Management intends to use the proceeds to reduce debt while simultaneously accelerating its LEO business development. The strategic goal is to lower the leverage ratio to approximately 2.5x EBITDA by the close of the 2025/2026 fiscal year. This twin focus on balance sheet repair and growth investment in the IRIS² constellation forms the core of the company's plan.

Key Financial and Operational Details:
* Gross proceeds from the rights issue: approximately €670 million
* Subscription rate: 133 percent (significantly oversubscribed)
* Total equity strengthening (including November issuances): circa €1.5 billion
* New shares issued: Nearly 496 million at €1.35 per share
* Intellian agreement: Global introduction of the OW7MP Manpack terminal for the LEO network

Execution is the Next Critical Phase

Market analysts view the successful capital raise as a necessary step to create financial flexibility. Attention now shifts squarely to operational execution. In the short term, the share price may continue to feel the effects of dilution, as the introduction of almost 500 million new shares is a substantial event.

Medium to long-term performance will depend on the pace at which strategic partnerships, such as the one with Intellian, convert into meaningful revenue streams. Forthcoming quarterly results will reveal whether LEO services can meet growth expectations and validate the company's strategic pivot.