Satellites

SES sees robust first half

MUMBAI: SES S.A., a leading worldwide satellite operator (NYSE Euronext Paris and Luxembourg Stock Exchange: SESG), reports financial results for the six months ended 30 June 2014.

    

• H1 Revenue of EUR 938.9 million (2013: EUR 910.5 million)

- An increase of 6.3% over the prior year period at constant exchange rates (“constant FX”)1

 



• H1 EBITDA of EUR 693.8 million (2013: EUR 662.0 million)

- An increase of 7.4% at constant FX over the prior year

- EBITDA margin of 73.9% (2013: 72.7% as reported)

 



• Operating profit rose to EUR 437.5 million, an increase of 9.4% at constant FX

 



• H1 Profit of the group increased 8.5% to EUR 290.9 million (2013: EUR 268.0 million)

 



• Contract backlog of EUR 7.2 billion at end of June 2014

 



• Closing Net Debt / EBITDA ratio of 2.85 (30 June 2013: 3.07) Karim Michel Sabbagh, President and CEO, commented:

 

“SES’s continuing successful development  and execution of the 2014 plan has delivered robust first half results that validate our strategy to address target regions and market verticals. Video remains core to our business. Europe and the International segments posted strong growth, while the North American  segment  continued  to be affected  by the U.S. Government  budget  sequester.  The 2014 financial guidance is reiterated.

 



Three satellites were brought into service in the period, further developing our capabilities in Europe, MENA and Asia-Pacific.  Four more satellites are under construction,  including the newly announced SES-12, a hybrid satellite for the Asia-Pacific region, which will benefit from the dual innovations of an HTS  payload  and  all-electric  propulsion.  These  programmes,  all components  of our  medium  term CapEx  plan,  will  enhance  our  differentiated  positioning  in  the  developing  markets  that  we  are targeting.

 



On 10 July 2014, O3b Networks, the satellite company building ‘Fibre in the Sky’, in which SES has a significant  interest,  successfully  launched  its  second  group  of  four  satellites.    O3b’s  full  suite  of commercial services will be offered once in-orbit testing is completed.   We look forward to O3b’s successful commercialisation  of its product range with customers across the underserved markets of the world.”

 

Click here to read the financial highlights

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