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Eutelsat raises goals on back of strong first half

Satellite operator Eutelsat has raised its 2009-10 financial year targets on the back of strong revenue growth in the first half.

The Paris-based operator now expects full-year revenues to exceed €1.02bn and EBITDA to exceed €795m.

Revenues for the first half were €508m, up 9.6%, and EBITDA was €411.6m, up 9.7%. Eutelsat turned in an EBITDA margin of 81%, up 0.1%.

Eutelsat’s new CEO Michel de Rosen said that the results highlighted “the efficiency with which our strategy has been implemented over the last years through clearly targeted and entirely self-financed investments”.