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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Eutelsat Communications    ETL   FR0010221234

EUTELSAT COMMUNICATIONS

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Eutelsat Communications : Private fund FSP takes stake in French car parts maker Valeo

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03/25/2020 | 10:20am EDT
Logo of Valeo is seen at VivaTech fair in Paris

French mutual fund Fonds Strategique de Participations (FSP), which is backed by insurance companies, has built a 4% stake in car equipment maker Valeo as part of a wider plan to support companies through the coronavirus crisis.

Created by a group of insurers including BNP Paribas Cardif, FSP has holdings in other firms like satellite maker Eutelsat and says it is a long-term investor rather than a fund to assist companies with liquidity problems.

FSP said that had been considering investing in Valeo since 2019, although it would also support firms during the pandemic.

"In the current crisis environment ... the FSP is expressing its solidarity, backing and confidence to all the companies in which it has invested," FSP said in a statement on Wednesday.

The coronavirus crisis has hit auto firms and their suppliers hard, as production chains grind to a halt across Europe following a shutdown earlier this year in China.

Valeo said in a statement that FSP would be represented on its board by Julie Avrane-Chopard, Senior Partner at McKinsey & Company, replacing Georges Pauget who resigned on March 24.

It said giving FSP a board seat will be submitted for ratification at its next AGM, which is now slated for June 25.

France has set up various schemes to help companies in distress as a result of the coronavirus pandemic, including government guarantees of up to 300 billion euros (277 billion pounds) on business loans through commercial banks.

(Reporting by Gwenaelle Barzic and Dominique Vidalon, Writing by Sarah White; Editing by Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
EUTELSAT COMMUNICATIONS 0.86% 9.6 Real-time Quote.-34.31%
VALEO 2.79% 16.96 Real-time Quote.-47.47%
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Financials (EUR)
Sales 2020 1 286 M
EBIT 2020 493 M
Net income 2020 322 M
Debt 2020 2 893 M
Yield 2020 13,4%
P/E ratio 2020 6,87x
P/E ratio 2021 6,92x
EV / Sales2020 3,98x
EV / Sales2021 3,82x
Capitalization 2 233 M
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 16,45  €
Last Close Price 9,60  €
Spread / Highest target 140%
Spread / Average Target 71,4%
Spread / Lowest Target 30,2%
EPS Revisions
Managers
NameTitle
Rodolphe Belmer Chief Executive Officer & Director
Dominique D'Hinnin Chairman
Sandrine Téran Chief Financial & Information Technology Officer
Yohann Leroy Deputy CEO & Chief Technical Officer
Carole Piwnica Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
EUTELSAT COMMUNICATIONS-34.31%2 407
INMARSAT PLC0.00%3 369
IRIDIUM COMMUNICATIONS INC.-6.33%3 052
INTELSAT S.A.-76.53%233
SPEEDCAST INTERNATIONAL LIMITED1.94%118
THAICOM-6.04%90