Q1 2020 Eutelsat Communications SA Corporate Sales Call Transcript
Good day, and welcome to the Eutelsat Q1 2019-20 Revenue Conference Call. Today's conference is being recorded.
At this time I would like to turn the conference over to Sandrine Téran, CFO and Michel Azibert, Deputy CEO. Please go ahead.
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Thank you, good evening, and thank you for joining us on this call where we will present our first quarter 2019-20 revenues. I am Sandrine Téran, CFO and I am joined by Michel Azibert, Deputy CEO.
Before looking in detail at the numbers, let's take a look at key events since we last spoke to you in July. On the commercial front, in the government (inaudible), we had a much better outcome than in the recent (inaudible) with the renewal rate of 90% in value. Elsewhere, the 'LEAP 2' cost savings program announced in July, has been launched. It consists of group-wise headcount and remuneration measures as well as a simplification of the organizational structure. The EUR 20 million to EUR 25 million OpEx savings target is
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