Eutelsat falls on 'vague' and 'very weak' FY guidance
** Shares of French satellite company Eutelsat ETL.PA fall 3.1%, as "weak" guidance for FY 2025 overshadows better-than-expected FY 2024 results
** Eutelsat expects the adj. EBITDA margin to be slightly lower y/y, having reported FY revenue of 1.21 billion euros ($1.32 billion) in-line with consensus and adj. EBITDA margin of 59.3%, above the consensus expectation of 53.6%
** Eutelsat says guidance reflects costs from the OneWeb merger and service revenues within the LEO satellites contribution
** "The guidance is extremely vague, and difficult to compare to consensus. That said, we consider it to be very weak," J.P.Morgan says
** The broker expects material cuts to consensus forecasts
** Stock sits at the bottom of France's SBF120 .SBF120 index
($1 = 0.9153 euros)
Reporting by Gianluca Lo Nostro
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