SES YTD and Q3 2024 Results

Luxembourg, 7 November 2024 -- SES S.A. announces financial results for the nine months and three months ended 30 September 2024 with solid operational and financial performance driving the Full Year 2024 revenue and Adjusted EBITDA outturn which is now expected to close at the top end of SES's financial outlook range.

Revenue of 1,475 million (-1.1% YOY) and Adjusted EBITDA of 775 million (-2.0% YOY)

Networks up +2.9% YOY with high single digit growth in Government, Aviation, and Cruise

Media performance (-5.5% YOY YTD) in line with expectations and improving trend in Q3 2024 of -3.1% YOY

900 million renewals & new business. Signed $200 million NATO government contract for O3b mPOWER; Thai Airways and Turkish Airlines for SES Open Orbits; multi-year media renewals with Sky, Warner Brothers Discovery, Telekom Srbija, RTL, and ORF/ORS

Adjusted Free Cash Flow of 262 million up 5% YOY with Net Leverage at 1.1x. Cash & cash equivalents at 3.2 billion including 1 billion of proceeds from the successful Hybrid bonds issuance

2024 Revenue outlook and Adjusted EBITDA outlook are now both tracking to the top end of the expected range

Intelsat acquisition on track to complete during H2 2025 with progress towards regulatory clearances and integration planning

IRIS concession award enables MEO network expansion to keep pace with growing customer demand in line with financial policy

LINK:	https://www.ses.com/press-release/ses-ytd-and-q3-2024-results...
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