Luxembourg, 1 August 2024 -- SES S.A. announces financial results for the six months ended 30 June 2024.
H1 performance underpins 2024 Full Year outlook
Revenue of 978 million (-0.6% YOY) and Adjusted EBITDA of 525 million (-0.9% YOY)
Networks (+5.0% YOY) including 8.4% YOY growth in Government
Video performance -6.7% YOY with important new long-term renewals signed
Adjusted Free Cash Flow (AFCF) of 146 million and Net Leverage at 1.7x (including cash & cash equivalents of 2.1 billion)
2024 revenue outlook (of 1,940 - 2,000 million) on track and unchanged
2024 Adjusted EBITDA outlook (of 950 - 1,000 million) tracking to upper half of the expected range
Fully Funded & highly accretive Intelsat acquisition will create a stronger multi-orbit competitor
Regulatory process underway and on track for closing during H2 2025
Integration & synergies planning progressing to ensure maximum possible execution from Day 1
Combination doubles revenue from growing Networks segments and unlocks 370 million of run-rate synergies (70% within 3 years)
Mid-single digit Adjusted EBITDA CAGR (2024E-2028E) to drive normalised' AFCF of more than 1 billion by 2027E/2028E
SES's investment grade rating re-affirmed and Net Leverage expected to be below 3x within 12-18 months after closing
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Luxembourg, 1 August 2024 -- SES S.A. announces financial results for the six months ended 30 June 2024. 
