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Government Services 12% ► Revenues of €162m, down 1.5% like- for-like1 • Low level of renewals with USG in FY 19 • Carry-forward effect of incremental business over APAC at 174°East ► Q4 revenues down 7.9% YoY and 1.5% QoQ ► FY 2019-20 to reflect: • Contribution of EGNOS payload on ETL 5WB • Delayed launch of ETL Quantum, from end-2019 to Q3 2020 calendar year, which will not contribute to revenues 158 162 40 40 38 40 39 39 41 42 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 FY 2017-18 2 FY 2018-19 1 At constant currency and perimeter 2 Proforma revenues at actual rates, ie adjusted for IFRS 15 16 REVENUES (€M)
