SES posts 6.1% revenue growth

Pascale Paoli-Lebailly | 12-11-2012

Satellite operator SES SA has reported its nine-month financial results showing revenues reaching €1,359.6 million, up 6.1% over the previous year, +1.6% at constant exchange rates.

EBITDA amounts to €1,012.0 million, showing an increase of 6.4% over the previous year. The Group’s profit reached €456.4 million against €446.7 million in 2011. SES also stated that its contract backlog is at an all-time high of €7.2 billion due to €1.3 billion of renewals and new contracts. A 24 transponder long-term contract has been renewed by Canal+ while the BBC renewed a six transponder contract. SES also points to the SES-4 and SES-5 successful launches along with Astra 2F that will enter commercial service later this month.

"The financial results for the first nine months of 2012 are in line with our expectations," Romain Bausch, SES president and CEO commented. "Despite the impact of the end of analogue TV broadcasting in Germany at the end of April, strong underlying growth has resulted in revenue growth of 1.6%, at constant FX.

Excluding the German analogue impact, revenue growth was 7.5%. Full year 2012 revenue and EBITDA growth is expected to be in line with expectations. SES also reiterated the 2012-2014 revenue and EBITDA CAGR prediction of approximately 4.5%.