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      "text": "1 Unaudited change at constant currency and constant perimeter. The variation is calculated as follows: i) H1 2024-25 USD figures are converted at H1 2023-24 rates; ii) H1 2023-24 figures are restated with the contribution of OneWeb from 1st July 2023 to 30 September 2023; iii) Hedging revenues are excluded.",
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      "text": "Confirmation of European Union’s IRIS² multi-orbit constellation representing a key step in Eutelsat’s LEO build-out strategy\nProcurement of first batch of LEO constellation extension to be technologically compatible with future IRIS² assets\nPut option exercised for the partial disposal of passive ground activity with proceeds due H1 calendar 2026\nFirst Half Operating Verticals revenues of €600 million up 3.9%\nAdjusted EBITDA margin of 55.2%, stable year-on-year\nFull Year 2024-25 Revenue and EBITDA margin objectives confirmed\nGross Capex landing now expected lower at €500-600 million due to LEO investment timing and increased vigilance on GEO\nGoodwill impairment of €535 million in respect of GEO assets, reflecting lower expected future cashflows from these assets",
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