First Quarter 2020 Results
07/05/2020
Luxembourg, 7 May 2020 - SES S.A. announced solid financial results for the first three months ended 31 March 2020 with performance in line with the company's expectations and strong underlying revenue growth in SES Networks. The business has seen limited impact to date from the COVID-19 global pandemic but given the unprecedented impact on the global economy and on certain industry segments that the company serves, SES has proactively implemented a series of measures to mitigate the headwinds to be faced in 2020.
Steve Collar, CEO, commented: We have made a strong start to 2020 with solid first quarter financial results including a step up in underlying revenue growth in SES Networks. Our Networks business now represents more than 40% of our business overall and mobility continues to stand out with 29% growth year-on-year as we have seen the full year contributions of important customer contracts signed during 2019. Strong control over discretionary costs in the quarter contributed to a reduction in recurring operating expenses year-on-year and reflects our ongoing focus on execution.
We have a strong, resilient business with predominantly fixed, long-term contracts and 85% of our expected revenue for 2020 already secured. To date our results have been largely unaffected by COVID-19. Nevertheless, the impact of the pandemic on the global economy and on several of the business verticals that we serve is profound and it is inevitable that we will be impacted as we support our most affected customers. It is too early to provide an assessment of the revenue impact that COVID-19 environment will have on our 2020 performance. That said, we have gone hard and gone early' in implementing COVID-19 specific measures to mitigate impacts on EBITDA, including substantial limits on discretionary spend in the order of mid-double-digit millions for the year, and removed EUR 180 million from our capital expenditure programme over the next 4 years. We are focused on ensuring the safety of our employees around the world, maintaining business continuity, supporting our customers, and taking all steps to ensure that SES can emerge from this period in the strongest possible position. I am proud and appreciative of the incredible team at SES who have seamlessly adapted to the operational challenges presented by COVID-19 and continue to deliver critical services to our customers with the same quality and expertise as ever.
Looking beyond COVID-19, Simplify & Amplify, our strategic transformation programme, is well underway. We are executing on initiatives that will generate EUR 40-50 million annualised EBITDA optimisation in 2021 and beyond and we are making progress on the potential separation of our Video and Networks business within SES. Successful execution of this separation will provide greater visibility into our business for investors, increase operational focus and create strategic flexibility. We have set up a dedicated team to execute on the objectives of the U.S. FCC's C-Band final Report and Order, including the ability for SES to earn up to USD 3.97 billion in acceleration payments for efficiently and effectively repurposing C-Band spectrum while protecting our broadcast neighbourhoods.
...
About SES SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world's only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world's leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES's video network carries over 8,300 channels and has an unparalleled reach of over 355 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com
Presentation of Results A presentation of the results for investors and analysts will be hosted at 9.30 CEST on 7 May 2020 and will be broadcast via webcast and conference call. The details for the conference call and webcast are as follows:
U.K. (Standard International Access) 44 (0) 20 3003 2666
France 33 (0) 1 7037 7166
Germany 49 (0) 30 3001 90612
U.S.A. 1 212 999 6659
Confirmation code SES Q1
Webcast registration https://channel.royalcast.com/webcast/ses/20200507_1/
The presentation is available for download from the Investors section of the SES website (www.ses.com), and a replay will be available shortly after the conclusion of the presentation.
More from SES
01/03/2024
CelcomDigi and SES sign MoU to explore MEO Satellite connectivity services across Malaysia
Both companies to explore how harnessing SES's satellites to provide high pe...
29/02/2024
SES Publishes 2023 Annual Report
Luxembourg, 29 February 2024 - SES S.A. has today published its 2023 Annual Report, following the announcement of the company's full year financial results ...
29/02/2024
SES Full Year 2023 Results
Execution against 2023 targets and strengthened financial position with C-band. Luxembourg, 29 February 2024 -- SES S.A. announces financial results for the tw...
27/02/2024
INRED to Provide Wi-Fi Services to Remote Areas in Colombia via SES Satellites
SES's Managed Enterprise service will enable INRED to connect thousands of remote sites across Colombia to support the Ministry of Information and Communica...
26/02/2024
Virgin Voyages Powers Fastest Internet at Sea with Industry-First Integrated MEO-LEO Service from SES
Virgin Voyages becomes first cruise operator to use integrated SES Cruise mPOWER...
22/02/2024
Luxembourg DoD Partners with SES and HITEC to Augment SATCOM Ground Infrastructure
New ground stations procured by the Directorate of Defence will be utilised by L...
12/12/2023
SES Space & Defense Awarded Global Satellite Services Contract to Support USAGM
Under the five-year agreement, SES Space & Defense will provide managed satellite services to the United States Agency for Global Media (USAGM) for delivering g...
15/11/2023
SES-led EAGLE-1 Onboards TNO and Airbus to Deliver Ground Station for Quantum Key Distribution
Europe's first space-based Quantum Key Distribution (QKD) system achieves ne...
12/11/2023
SES's Fifth and Sixth O3b mPOWER Satellites Successfully Launched
With six satellites, SES's second-generation medium earth orbit system will be ready to provide high-performance connectivity services around the globe from...
08/11/2023
U.S. Department of Defense Awards Medium Earth Orbit BPA to SES Space & Defense
Under the Blanket Purchase Agreement (BPA), SES Space & Defense will provide the U.S. Department of Defense mission-critical communications leveraging SES's...
31/10/2023
SES YTD 2023 Results
Luxembourg, 31 October 2023 -- SES S.A. announces financial results for the nine and three months ended 30 September 2023 and update on O3b mPOWER. Key YTD Fi...
23/10/2023
National Football League Teams Up with SES for Game Content Distribution
In a renewed partnership, SES's hybrid distribution network to enable the NFL to reach over 35 partners in Europe, Asia and the Americas, deliver over 150 g...
20/10/2023
U.S. Department of Defense Awards Low Earth Orbit IDIQ Contract to SES Space & Defense
SES's fully-owned affiliate will provide global end-to-end satellite solutio...
19/10/2023
SES Launches SCORE Platform to Better Manage and Distribute Live Sports & Events
New Sports Content Orchestration Enabler allows content owners and rights holders to easily deliver live sports and events content Luxembourg, 19 October 2023 ...
13/10/2023
SES Appoints Adel Al-Saleh as CEO
Adel Al-Saleh, SESs CEO as of Feb 2024 Luxembourg, 13 October 2023 - SES, a leading provider of global content connectivity solutions, today announced that Ad...
13/09/2023
SES Introduces Cruise Industry's First Integrated MEO-LEO Service with Starlink
Industry's first end-to-end connectivity solution delivering bandwidth capac...
12/09/2023
UKTV Expands Partnership with SES in Multi-Year Agreement
Agreement includes renewal of one transponder, uplinking and ground services. Luxembourg, 12 September 2023 - Viewers across the United Kingdom and the Republi...
07/09/2023
Mexico's CFE TEIT Taps SES's Mobile Backhaul Service via SES-17 to Boost Digital Inclusion
Leveraging SES-17's high performance and comprehensive coverage over Mexico,...
05/09/2023
SES Space & Defense Awarded U.S. Air Force Research Laboratory Contract to Support DEUCSI Program
SES Space & Defense to demonstrate integrating commercial broadband services acr...
31/08/2023
Telemor and SES Expand Partnership to Deliver Enhanced Connectivity Services in Timor-Leste
SES's Medium Earth Orbit (MEO) satellite system will enable Telemor to deliv...
10/08/2023
SES Completes FCCs C-Band Transition Clearing and Relocation Plan in the U.S.
FCC validates SES Phase II Certification, affirming SES's completion of all C-band transition activities ahead of December 2023 deadline to secure $3 billio...
10/08/2023
SES and Quanta Partner to Serve Sports and Events Customers in Latin America
SES and Quanta to offer global content distribution and post-production capabilities for sporting and news events in Latin America Luxembourg, 10 August 2023 ...
03/08/2023
SES H1 2023 Results
Luxembourg, 3 August 2023 -- SES S.A. announces financial results for the six months ended 30 June 2023. Key Highlights: Revenue of 987 million (+9.8% YO...
08/04/2022
SES Shareholders Approve All Resolutions at Annual General Meeting and Extraordinary General Meeting
Dividend of EUR 0.50 per A-share approved Luxembourg, 8 April 2022 - SES held ...
07/04/2022
SES Expands Multi-Cloud Offerings with Oracle Cloud Infrastructure FastConnect
Enterprises and governments can now gain direct one-hop' connectivity to their Oracle Cloud environments from nearly anywhere via SES's multi-orbit sat...
05/04/2022
Satellite Monitor Annual Research Shows SES Increase Reach to 366 Million TV Homes Worldwide
Industry benchmark report confirms SES's position as a global leader in cont...
04/04/2022
QVC UK Signs Multi-Year Contract Renewal with SES
Worldwide leader in home shopping launches HD channels at SES's 28.2 / 28.5 degrees East video neighbourhood Luxembourg, 4 April 2022 - Viewers across the ...
31/03/2022
SES Partners with NorthStar Earth & Space to Tackle Space Sustainability Challenges
Collaboration will improve Space Situational Awareness and promote best practice...
30/03/2022
SES Expands O3b mPOWER Partner Ecosystem with Comtech for Antenna Systems
Comtech to supply O3b mPOWER 5.5 metre gateways, small gateways and user terminals Luxembourg, 30 March 2022 - SES announced today that Comtech Telecommunicati...
29/03/2022
SES to Enable European Maritime Safety Agency RPAS Operations via Satellite
EMSA will be using SES's multi-band, multi-frequency satellite services for Remotely Piloted Aircraft operations for security, rescue and pollution monitori...
28/03/2022
SES Adds Third Satellite from Thales Alenia Space to Extend Services across Europe, Africa and Asia
Innovative, flexible, software-defined satellite to replace NSS-12 at 57 degrees...
22/03/2022
Leonardo DRS Announces Sale of Global SATCOM Business to SES
Combination of SES GS and DRS GES unites the leader in multi-orbit satellite networking with unparalleled US Government satellite communications integration to ...
22/03/2022
SES Doubles High-value US Government Business with $450 Million Acquisition of DRS Global Enterprise Solutions
Acquisition scales US Government business and expands the capabilities and solut...
21/03/2022
SES to Accelerate Access to C-Band Spectrum for Verizon to Support Rapid Deployment of 5G Services
SES will earn an additional $170 million from Verizon through accelerated cleari...
17/03/2022
SES Government Solutions Connects U.S. Naval Forces Central Command During International Maritime Exercise
The U.S. Navy employs geostationary and medium earth orbit satellite communicati...
17/03/2022
SES and CANAL+ Expand Partnership with New Ground Services Agreement
New uplink services will ensure optimal viewing experiences for audiences across Europe Luxembourg, 17 March 2022 - SES and CANAL have expanded their partners...
16/03/2022
Stenna Group Taps into SES's Cloud Playout Service to Scale Reach in Brazil
Broadcaster will leverage SES's cloud-based solution for its linear TV channel, ZooMoo Kids, which is available in SD and HD Luxembourg, 16 March 2022 - Br...
15/03/2022
SES Enables Awareness of Major Climate Action in Antarctica through Connectivity
High-availability satellite connectivity for the 2041 Foundation expedition ensures participants can stream and share the cause with the outside world Luxembo...
11/03/2022
SES Obtains BBB Credit Rating by Fitch
Luxembourg, 11 March 2022 - SES S.A. announced today that Fitch Ratings assigned a Long-Term Issuer Default Rating and senior unsecured rating of BBB' with...
02/03/2022
SES Unveils Bold New ESG Strategy and Targets with 2021 Annual Report Publication
Company sets targets to support sustainable use of space, achieve carbon NetZero...
24/02/2022
SES Full Year 2021 Results
Solid year of execution and performance underpins future growth and returns Luxembourg, 24 February 2022 -- SES S.A. announces financial results for the year e...
21/02/2022
Discovery Deutschland Extends HD Capacity Agreement with SES for TELE 5 HD
As part of the long-term agreement, TELE 5 HD continues to be part of the HD+ channel bouquet Luxembourg, 21 February 2022 - The Discovery Deutschland GmbH & C...
16/02/2022
Orange, Sonatel and SES to Deploy First African O3b mPOWER Gateway in Senegal
This gateway will enable unprecedented high-performance and low-latency connectivity services across the whole African continent Luxembourg, Paris 16 February ...
14/02/2022
Jio Platforms Ltd and SES Announce Joint Venture to Deliver High-Performance Satellite-Based Broadband Services Across India
This joint venture with Jio Platforms is massively exciting because we are worki...
09/02/2022
Marlink and SES Turbo-charge Long-term Partnership with O3b mPOWER Commitment
Marlink's customers will leverage SES's next-generation medium earth orbit constellation for high-throughput and low-latency solutions across portfolio ...
21/01/2022
SES Enables Digicel to Restore First International Calls in Tonga
Residents of South Pacific nation made first international calls using SES's C-band capacity following massive eruption and tsunami last weekend Luxembourg...
19/01/2022
SES Skala Global Platform Data Use Increases by 150% for Second Year Running
Doubling of connected sites and connectivity services mainly driven by commercial maritime players Luxembourg, 19 January 2022 - The number of sites and conne...
18/01/2022
SES Appoints John-Paul Hemingway as Chief Strategy and Product Officer
Hemingway charged with driving SES's growth strategy Luxembourg, 18 January 2022 - SES is adding a new Chief Strategy and Product Officer (CSPO) to its Sen...
13/01/2022
SES Government Solutions Launches On-Demand X-band Service Platform
Guaranteed non-preemptible volume-based satellite services for mission-critical communications Reston, Va. 13 January 2022 - SES Government Solutions, a wholly...
20/12/2021
Honeywell, SES And Hughes Demonstrate Multinetwork Airborne Connectivity for Government Customers
Enabled by SES' network of satellites, Honeywell's JetWave MCX terminal ...