Sony Pixel Power calrec Sony

Full Year 2020 Results

25/02/2021

Written on 25 Feb 2021

A strong year of execution, a clear path to profitable growth and a commitment to shareholder return

Luxembourg, 25 February 2021 -- SES S.A. announces financial results for the year ended 31 December 2020.

Third successive year delivering EBITDA outlook despite challenging COVID-19 environment in 2020

Growth engine Networks revenue 5% YOY, or 27% since 2017, and Video revenue of 1,108 million in line with expectations

Adjusted EBITDA of 1,152 million delivered within pre-COVID-19 financial outlook and at high end of mid-year outlook

Strong net cash generated from operations of 1,049 million representing 97% of reported EBITDA

Commitment to disciplined financial policy and shareholder returns

Solid cash flow generation driving 505 million YOY debt reduction and lowest leverage ratio (of 2.97 times) over the past 5 years

Proposed 2020 dividend of 0.40 per A-share consistent with commitment to maintain a minimum base dividend of 0.40

On track to realise $4 billion pre-tax from US C-band clearing with end-2021 milestone triggering the first $1 billion in accelerated clearing payments to be fully used for deleveraging

Resilient 2021 outlook reflecting current market with substantial growth investments supporting Revenue, Adjusted EBITDA and FCF growth from 2023

Over 80% of 2021 group revenue outlook of 1,760-1,820 million already under contract. Continued focus on operational excellence, reducing cost and discretionary spending supporting 2021 Adjusted EBITDA outlook ( 1,060-1,100 million)

SES-17 and O3b mPOWER, with gross backlog up 40% since Q3 2020 to $740 million, to launch in 2021, driving an acceleration of growth in Networks from 2022 onwards and sustained profitable revenue and Adjusted EBITDA growth for SES from 2023

CapEx reduced by 390 million over 2020-2024 compared with previous forecast, lowering growth investment peak in 2021-2022 and followed by substantially lower average annual CapEx of 375 million (2023-2025)

Steve Collar, CEO of SES, commented: 2020 was a strong year for SES. The combination of considerable commercial execution and laser focus on controlling discretionary spending ensured that, despite the COVID-19 environment, we protected the bottom line with Adjusted EBITDA in line with our pre-COVID-19 outlook and at the top end of our mid-year outlook. We successfully executed our Simplify & Amplify programme delivering OpEx savings of 50 million from 2022 onwards, while Net Debt and leverage is at a 5-year low on the back of strong cash generation.

2020 was a landmark year for our US C-band initiative, starting with the FCC's final Report and Order and ending with the record-breaking spectrum auction, crystallising SES' opportunity to earn $4 billion in accelerated relocation payments. The clearing is on track and we expect to meet the December 2021 and December 2023 deadlines.

We secured more than 1.3 billion in customer agreements in the year including an important long-term commitment with Canal covering multiple orbital positions; contract extensions with public and commercial broadcasters across our prime video neighbourhoods; new MEO-GEO-based solutions for the US Government; new Telco and MNO connectivity solutions in Latin America and Asia; and, in return for supporting customers whose businesses are especially affected by COVID-19, secured additional backlog in Cruise and Aero. Our recently announced renewal and extension with Sky means that, to date, we have added more than 440 million in contract backlog at our core video neighbourhoods since the end of Q3 2020. 2020 was a year like no other for our employees and customers alike. We moved swiftly and successfully into a remote office environment, protecting customer and satellite operations in the process. I could not be more grateful to SES employees for their resilience and commitment to supporting our customers.

2021 represents a year of unique and significant opportunities for SES. It will see us realise the first $1 billion from C-band repurposing and execute on a strong pipeline of commercial opportunities to further grow, driven by the increasing backlog of now $740 million for SES-17 and O3b mPOWER ahead of launch in the second half of 2021. These assets form the bedrock of our unique, multi-orbit value proposition to serve the strong and expanding demand for data across all our segments and will drive sustained, profitable growth for SES in the years ahead.

...

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 8,200 channels and has an unparalleled reach of 367 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 CET on 25 February 2021 and will be broadcast via webcast and conference call. The det
LINK: https://www.ses.com/press-release/full-year-2020-results...
See more stories from ses

Most recent headlines

22/04/2021

WO Automation for Radio v5.0 offers fully remote station operations without compromise

The latest version of WO Automation for Radio, version 5.0, includes significant...

21/04/2021

UKTV experiences record Q1 viewing and sees huge uptick in 16-34s tuning in

21 April 2021 Multi-channel broadcaster enjoys highest ever Q1 share of viewing at 4.73% - an 8.6% growth year-on-year UKTVs share of commercial impacts (S...

21/04/2021

Netflix Adds 4M Subscriptions in Q1 2021, Short of Expectations

LOS GATOS, Calif.-Is the streaming boom powered by the pandemic starting to fade? One sign that could point to that idea is Netflix, the largest streaming provi...

21/04/2021

Hulu Strikes Deal to Carry NFL Network, NFL RedZone

NEW YORK-Hulu and NFL Media have come to terms on a multi-year carriage agreement that will bring NFL Network and NFL Redzone to the Hulu + Live TV service in t...

21/04/2021

Dejero Completes $60M Minority Recapitalization to Boost Growth

WATERLOO, Ontario-Dejero has announced a minority recapitalization of its business that totaled $60 million. The recapitalization was led by Vertu Capital, alon...

21/04/2021

ESPN, Fox Lead 42nd Sports Emmy Nominations

NEW YORK-The National Academy of Television Arts and Sciences has announced the nominees for the 42nd Annual Sports Emmy Awards, with ESPN and Fox leading all n...

21/04/2021

APTS, PBS Back FCC's Efforts to Increase False Emergency Alert Reports

WASHINGTON-Citing the goal of quickly and accurately informing the public about safety threats, America's Public Television Stations and PBS (collectively P...

21/04/2021

IBC Set to Go Ahead as Planned in September

LONDON-IBC 2021 is set to go ahead as planned in September, with organizers saying they are focused on delivering a fantastic event at the RAI in Amsterdam....

21/04/2021

Sony Sells Its Memnon Archiving Division to ES Broadcast

LONDON-ES Broadcast announced its acquisition of Sony's Memnon archiving solution arm. Terms of the deal were not disclosed....

21/04/2021

Quibi Content Becomes Roku Originals'

SAN JOSE, Calif.-Roku has driven the final nail in Quibi's coffin, announcing that the short-lived mobile streaming platform's content it acquired in Ja...

21/04/2021

Tightrope's Cablecast Powers Online Video Delivery for Cambridge Public Schools

MINNEAPOLIS-The Cablecast Community Media platform from Tightrope Media Systems ...

21/04/2021

Live Video Game Streaming Hit 8.8B Hours in Q1 2021

LONDON-People aren't just streaming TV shows and movies, live streams of video games grew substantially in 2020, and after the first quarter, 2021 is off to...

21/04/2021

Teradek Joins NDI Ecosystem

IRVINE, Calif.-Teradek is now part of the NDI ecosystem, which it will incorporate with its line of Teradek Cube 700 series encoders. Teradek Cube 705 and Terad...

21/04/2021

SVG Sit-Down: New FOR-A America President Satoshi Kanemura on Company's Role in Sports Production

SVG Sit-Down: New FOR-A America President Satoshi Kanemura on Company's Role...

21/04/2021

SVG SportsTech On Demand: VITEC Mark Robison's on New Venues With IPTV Systems and Enhancing the Fan Experience

SVG SportsTech On Demand: VITEC Mark Robison's on New Venues With IPTV Syste...

21/04/2021

SVG SportsTech On Demand: Haivision's Mark Horchler on Remote Collaboration and Remote Operation Over IP

SVG SportsTech On Demand: Haivision's Mark Horchler on Remote Collaboration ...

21/04/2021

SVG SportsTech On Demand: Spectra Logic's Hossein ZiaShakeri on Evolution of the Storage Industry and the Power of StorCycle

SVG SportsTech On Demand: Spectra Logic's Hossein ZiaShakeri on Evolution of...

21/04/2021

SVG SportsTech On Demand: disguise's Tom Rockhill on the Unlimited Options of xR Technology

SVG SportsTech On Demand: disguise's Tom Rockhill on the Unlimited Options o...

21/04/2021

SVG SportsTech On Demand: BirdDog's Dan Miall on the Power of NDI

SVG SportsTech On Demand: BirdDog's Dan Miall on the Power of NDI By Ken Kerschbaumer, Editorial Director Wednesday, April 21, 2021 - 9:20 am Print Thi...

21/04/2021

SVG SportsTech On Demand: Blackmagic Design's Bob Caniglia Discusses Expanded ATEM Lineup and More

SVG SportsTech On Demand: Blackmagic Design's Bob Caniglia Discusses Expande...

21/04/2021

IBC Still Planning on In-Person September Event But Has Fall-Back Option in December

IBC Still Planning on In-Person September Event But Has Fall-Back Option in Dece...

21/04/2021

At the Rink: Washington Capitals Approach Regular Season With Virtual Gameday Digital Experience, Traditional In-Venue Flair

At the Rink: Washington Capitals Approach Regular Season With Virtual Gameday Di...

21/04/2021

Inside the ESPN's NBA Daily Wager Special: How ESPN Produced Its First Sports-Betting-Driven Broadcast

Inside the ESPN's NBA Daily Wager Special: How ESPN Produced Its First Sport...

21/04/2021

STN IP Protection Suite

Maximize and protect your IP with the STN IP Protection Suite . From new users to expert searchers, at all stages of your innovation journey, STN has the soluti...

21/04/2021

LIVE LIFE LOUD - Sony introduces new X-Series range with 3 new powerful wireless speakers

Get bigger sound with Omnidirectional Party Sound on the SRS-XP700 Experience P...

21/04/2021

Hanging in the Balance: More Research Coordination, Collaboration Needed for AI to Reach Its Potential, Experts Say

As AI is increasingly established as a world-changing field, the U.S. has an opp...

21/04/2021

The Future's So Bright: NVIDIA DRIVE Shines at Auto Shanghai

NVIDIA DRIVE-powered cars electrified the atmosphere this week at Auto Shanghai. The global auto show is the oldest in China and has become the stage to debut ...

21/04/2021

Penta and DADman Ready for Big Sur

Tekst: Penta and DADman Ready for Big Sur Upon thorough testing, we are happy to announce that the most recent DADman version for macOS (v. 5.4.5 build 1) is...

21/04/2021

Etisalat and Nokia provide ultra-fast 5G broadband services in the UAE

Etisalat and Nokia provide ultra-fast 5G broadband services in the UAE Press Release Etisalat and Nokia provide ultra-fast 5G broadband services in the UAE ...

21/04/2021

Ragnarok season 2 is coming to Netflix on May 27

Back to All News Ragnarok season 2 is coming to Netflix on May 27 Entertainment 21 April 2021 GlobalNorwayDenmarkSweden View and download the first look im...

21/04/2021

Sardar Ka Grandson Welcomes You To Their Family!

Back to All News Sardar Ka Grandson Welcomes You To Their Family!Play Video Play Video Entertainment 21 April 2021 GlobalIndia Netflix launches the traile...

21/04/2021

UiPath: The Automation IPO

Our first meeting with Daniel at Fish House in Bucharest. Try the Salt-Crusted Sea Bass! By Eric Liaw, Alex Lim, Jules Maltz, and Jason Kong Today, we are exc...

21/04/2021

ITV named a Top 10 Inclusive Employer by the British LGBT Awards

ITV named a Top 10 Inclusive Employer by the British LGBT Awards ITV has been named as one of the top 10 most inclusive employers by the prestigious British LG...

21/04/2021

First look image of Marsha Thomason as DS Jenn Townsend

First look image of Marsha Thomason as DS Jenn Townsend Guest cast announced The Bay Series 3 The Bay adds over one million viewers as an average of 8 milli...

21/04/2021

Fox Corporation Executives to Discuss Third Quarter Fiscal 2021 Financial Results Via Webcast

Fox Corporation Executives to Discuss Third Quarter Fiscal 2021 Financial Result...

21/04/2021

TechnipFMC Awarded a Significant Subsea Contract for Petrobras' Marlim and Voador Fields

Press release | April 20 2021 TechnipFMC Awarded a Significant Subsea Contract...

21/04/2021

Colour Online: Film Awards Season Webinar. Thursday, April 29

Let's celebrate the recent nominees and winners of this year's awards season. Register now FilmLight is hosting a discussion with the talents who have...

21/04/2021

Delphine Ernotte Cunci, EBU President, launches the TV Assembly 2021

Delphine Ernotte Cunci, EBU President, launches the TV Assembly 2021...

21/04/2021

Cisco Commits $100 Million to Help Address Climate Crisis

News Summary: The Cisco Foundation is committing $100 million over ten years to help reverse the impact of climate change. Cisco will move the needle on cli...

21/04/2021

Seniors Become Tech in Spain with Onliners and Old Timers

Gestmusic, a Banijay Iberia company, confirms it will produce Onliners and Old Timers (Canvi de Xip) in collaboration with Catalan Ministry of Culture for TV3. ...

21/04/2021

Avid and Dolby Deliver Industry First Pro Tools Dolby Atmos Production Course and Certification

Avid and Dolby Deliver Industry First Pro Tools Dolby Atmos Production Course ...

21/04/2021

IBC set to go ahead as planned in September

Fall back dates for December are still in place, and an announcement on that is expected to be made in June By Jenny Priestley Published: April 21, 2021 Fa...

21/04/2021

Orchestral Tools launch Tallinn

Chamber music with a Baltic twist Berlin-based sampling experts Orchestral Tools have just announced the release of Tallinn, a 43GB (92GB uncompressed) soft...

21/04/2021

YouTube Select Adds Seasonal Sponsorship Opportunities

YouTube said that it will be making seasonal sponsorships available as part of its Select premium advertising product, allowing marketers to own the top mom'...

21/04/2021

Primetime Ratings Monday: Fox on Top With 9-1-1'

Fox won the Monday ratings race with the return of 9-1-1 and 9-1-1: Lone Star. Fox rated a 0.9 in viewers 18-49, per the Nielsen overnights, and a 6 share. In s...

21/04/2021

PTC Issues Cord-Cutters Guide to Streaming Services

In its first report under its rebrand as the Parents Television & Media Counsel, PTC said there are upsides and downsides to streaming media that families need ...

21/04/2021

Syndication Ratings: Aaron Rodgers Leads Jeopardy!' to Weekly Win

Aaron Rodgers, playing guest host for two weeks, gave CBS Media Ventures' Jeopardy! a big boost in the session ending April 11. Rodgers, the star quarterbac...

21/04/2021

Deadliest Catch: Bloodline' on Discovery Plus April 20

A new season of Deadliest Catch: Bloodline is on Discovery Plus April 20. Captain Josh Harris and business partner Casey McManus venture to Hawaii after discove...

21/04/2021

Netflix Adds Just 4 Million New Subscribers in 1st Quarter

Netflix added just 3.98 million streaming subscribers worldwide in the first quarter after adding 15.77 million a year ago as the COVID-19 pandemic set in....