Challenges ahead but Eutelsat, SES reveal solid 2011

Editor ©RapidTVNews | 17-02-2012

The latest financial results posted from Europe’s two leading satellite operators have shown the intrinsic strength of Europe’s satellite industry, leaving both in a good place to rise a number of challenges in 2012.

Just weeks away for the official rebranding of its fleet, Eutelsat Communications reported what it called ‘solid’ first half fiscal 2012 results revealing year on year revenue growth of 4.6% to €602.4 million driving EBITDA of €478.5 million, itself up 3.4%.
With new in-orbit resources recently entered into service, Eutelsat says that it is on track to achieve annual revenues of over €1.235 billion for the current fiscal year. However it cautions that this objective will be challenged by the current competitive environment in some regions and a partial delay in the roll-out of KA-SAT services.
Commenting on the half year 2011-2012 results, CEO Michel de Rosen said: "We delivered solid results…following the successful entry into service of two new satellites, that have anchored our market position in the Middle East, Africa, Central Europe and the Indian Ocean Islands, our order backlog increased almost 10% to €5.3 billion, giving excellent long term visibility and underscoring the overall resilience of our business.”
For its part for the twelve months to 31 December 2011, SES reported revenue of €1.733 billion, slightly down (0.1%) on 2010, with a similarly slightly depressed, by 1.7%, EBITDA of €1.274 billion but with an increased (1.4%) operating Profit of €808.2 million.
Commented Romain Bausch, President and CEO: “SES' results for 2011 demonstrate the core resilience of our operating business…revenue was on target, despite the challenge of launch delays…organisational realignment was implemented during 2011. It is delivering real benefits, including enhanced focus on our key markets.”
The company is building seven further satellites are being built and are due to be launched before the end of 2014. Yet Bausch pointed out that 2012 would be challenging due mainly to what he called “the exceptional impact” of analogue TV switch-off in Germany.