
Strong start to 2021. Launching 100 million Share Buyback programme
Luxembourg, 6 May 2021 -- SES S.A. announces financial results for the three months ended 31 March 2021.
Strong execution delivering revenue of 436 million and Adjusted EBITDA of 268 million
Improving trajectory in Video from -8.0% YOY in FY 2020 to -4.6% YOY in Q1 2021
Solid Networks performance (flat YOY) in the COVID environment with strong prospects for future growth
7% YOY reduction in recurring Operating Expenses, reflecting S&A gains, supporting higher YOY Adjusted EBITDA margin (61%)
Solid cash flow generation and financial discipline supporting lower YOY leverage ratio of 3.1 times at 31 March 2021
Adjusted Net Profit up 42% YOY to 75 million
On track to deliver 2021 outlook. Growth investments and C-band proceeds supporting future growth and value creation
Over 85% of 2021 revenue outlook ( 1,760-1,820 million) already under contract
$180 million of backlog signed in 2021 for SES-17 and O3b mPOWER with gross backlog at $740 million; timed to come to market as the world emerges from the COVID environment with highly differentiated products and solutions to capture substantial connectivity growth opportunity
US C-band clearing on track to meet end-2021 milestone (triggering $1 billion payment) and end-2023 milestone (triggering a further $3 billion payment)
Delivering returns to shareholders
2020 dividend of 0.40 per A-share paid in April 2021, consistent with commitment to minimum base dividend of 0.40 going forward
Launching 100 million share buyback programme reflecting confidence in the long-term fundamentals of the business
Steve Collar, CEO of SES, commented: We have made a strong start to 2021 with the resilience of our Video business to the fore on the back of a number of important renewals and extensions secured at our core European neighbourhoods. Networks business performance was also solid in Q1, notwithstanding the near-term COVID environment, with new deal flow beginning to pick up. We continue our laser focus on removing cost from the business and minimising discretionary spend with a 7% year-on-year reduction in operating expenses, leading to improving EBITDA margin. In summary, our start to the year puts us firmly on track to deliver on our 2021 financial outlook which remains unchanged.
I am excited by the progress that we are making in securing customer commitments for SES-17 and O3b mPOWER ahead of launch in the second half of 2021, and the level of market interest that we are seeing across all Networks verticals. These important growth investments allow us to offer a significantly expanded set of low latency products and solutions to the market as the world emerges from the COVID environment and demand for connectivity increases exponentially. We are also on course with the clearing of C-band in the US and are continuing to pursue opportunities to create additional shareholder value from further monetisation initiatives.
The share buyback programme that we are announcing today reflects our confidence in the long-term fundamentals of the business. The current share price does not reflect the underlying value of SES and this programme represents an attractive opportunity to deploy capital for the optimal benefit of our shareholders. SES is uniquely positioned with targeted and differentiated growth investments fuelling future top line and EBITDA growth with strong cash flow enhanced by meaningfully lower capital expenditure, as well as the proceeds from our C-band initiative.
...
More from SES
08/04/2022
Dividend of EUR 0.50 per A-share approved
Luxembourg, 8 April 2022 - SES held ...
07/04/2022
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
Industry benchmark report confirms SES's position as a global leader in cont...
04/04/2022
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
Collaboration will improve Space Situational Awareness and promote best practice...
30/03/2022
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
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
Innovative, flexible, software-defined satellite to replace NSS-12 at 57 degrees...
22/03/2022
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
Acquisition scales US Government business and expands the capabilities and solut...
21/03/2022
SES will earn an additional $170 million from Verizon through accelerated cleari...
17/03/2022
The U.S. Navy employs geostationary and medium earth orbit satellite communicati...
17/03/2022
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
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
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
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
Company sets targets to support sustainable use of space, achieve carbon NetZero...
24/02/2022
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
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
This gateway will enable unprecedented high-performance and low-latency connectivity services across the whole African continent
Luxembourg, Paris 16 February ...
14/02/2022
This joint venture with Jio Platforms is massively exciting because we are worki...
09/02/2022
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
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
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
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
Guaranteed non-preemptible volume-based satellite services for mission-critical communications
Reston, Va. 13 January 2022 - SES Government Solutions, a wholly...
20/12/2021
Enabled by SES' network of satellites, Honeywell's JetWave MCX terminal ...
15/12/2021
Fibre-like O3b satellite connectivity to help accelerate digital transformation ...
07/12/2021
Series of tests enables the U.S. Army to lay foundation for multi-domain operati...
06/12/2021
Hydra provides mission assurance with modern, fully customizable situational awareness dashboard for the U.S. Government and military
Reston, Va., 6 December 2...
24/11/2021
FCC validation ahead of the 5 December 2021 Phase I accelerated relocation deadl...
19/11/2021
Two satellites at 19.2 degrees East will enable SES's major European broadca...
18/11/2021
German audiences will continue to receive Live Commerce TV station in both SD and HD quality via satellite
Luxembourg, 10 November 2021 - HSE, leading provider...
10/11/2021
New service will leverage IP streaming to deliver 50 HD channels and content libraries and can expand HD reach by 20 million homes
Luxembourg, 9 November 202...
09/11/2021
Strong execution underpinning FY 2021 outlook, future growth, and value creation
Luxembourg, 4 November 2021 -- SES S.A. announces financial results for the ni...
04/11/2021
To better serve more than 2 million subscribers, Mexican pay-TV provider leverages SES's capabilities to deliver both linear and on-demand content
Luxembou...
03/11/2021
Isotropic Systems simultaneously connects multiple SES satellites across separat...
02/11/2021
SAWA Rights Management to distribute SRM's premium TV channels to commercial businesses across the MENA region
Dubai, 28 October 2021 - SAWA Rights Managem...
02/11/2021
German, Austrian and Swiss audiences will now enjoy 24/7 Live Commerce TV station in HD quality via satellite
Luxembourg, 2 November 2021 - Shop LC GmbH, a sub...
28/10/2021
State-of-the-art satellite serving the Americas will transform aviation connectivity landscape and accelerate digital inclusion programmes in the region
Guiana...
24/10/2021
Technology advancements developed by both teams will focus on benefits of next-generation satellite connectivity network in domains such as quantum communicatio...
14/10/2021
Sirius TV launches new low-cost bouquet starting with 13 TV channels via SES-12 satellite
Luxembourg/Malaysia, 5 October 2021 - Sirius TV, a brand of Smart Dig...
05/10/2021
SES to use its global satellite and terrestrial infrastructure to aggregate and deliver sports events live to SoftBank so that millions across Japan can enjoy s...
30/09/2021
For the first time, three CGTN channels will be broadcast in HD via SES's prime neighbourhood of ASTRA 19.2 degrees East
Luxembourg, 29 September 2021 - Au...
29/09/2021
Hughes Resource Management System Seamlessly Switches Signal across SES's Ge...
22/09/2021
Since Q1 2021, more than 60 channels have adopted SES's cloud infrastructure, leveraging its flexibility and cost-effectiveness to broadcast their channels ...
15/09/2021
Built by Thales Alenia Space, the SES satellite will deliver high-speed connectivity services to mobility, enterprise and government segments across the America...
14/09/2021
SES's German media platform HD will deliver 50 HD channels for on-the-go streaming to its subscribers' iOS and Android smartphones and tablets
Luxembo...
06/09/2021
Sabrina Alam, SES Associate
Programme MemberIntegrating an Environmental, Social and Governance (ESG) Programme into a company's philosophy is about far mo...