(Boursier.com) — Down 0.6% to 6.67 euros on Tuesday, Eutelsat fell further on the Paris stock exchange, while Berenberg lowered its target from 11.6 to 7.1 euros with a notice to ‘keep’. The satellite operator recently unveiled half-year accounts down with an Ebitda of 419 million euros, down 3.8%, for a total turnover of 574 ME, up 0.3% over a published basis but down 6.1% on a like-for-like basis. The EBITDA margin thus stood at 72.9% at constant exchange rates (73% as reported) compared to 76.1% a year earlier, reflecting the decline in revenue, particularly in Broadcast .
The net profit attributable to the group came to 52 ME, down sharply by 68.7%. As of December 31, 2022, the order book stood at €3.7 billion compared to €4.2 billion as of December 31, 2021.
Despite these declining results, management confirmed its financial objectives for the 2022-23 financial year and beyond…
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