Eutelsat has announced that the proposed transaction to sell its passive ground segment infrastructure assets to private equity investor EQT Infrastructure VI will not move forward, as the required conditions for completion were not fully met.
The transaction, which was still in progress, was expected to generate net proceeds of approximately €550m for Eutelsat. Under the terms previously outlined, the associated service agreement with the prospective buyer would have resulted in a negative annualised impact on adjusted EBITDA of between €75m and €80m.
Eutelsat stated that the non-completion of the deal does not affect its financial objectives for the 2025–26 financial year, with the exception of its Net Debt to EBITDA ratio. This metric is now projected to be around 2.7 times by the end of the financial year, compared with an earlier estimate of 2.5 times. Looking further ahead, the company revised its EBITDA margin outlook for FY 2028–29, which is now expected to reach approximately 65%, up from the previously anticipated level of around 60%.
The company emphasised that the cancellation of the transaction will not impact its ability to finance capital expenditure linked to its strategic growth plans, reaffirming its capacity to continue investing in long-term development initiatives.
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