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
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Henry joins BCE as the company accelerates its commercial strategy and expands its international presence across the media, broadcast and technology markets. He...
19/08/2026
iWedia, a leading provider of software solutions for connected TV devices, today announced a major milestone in Android platform optimization with the successfu...
19/08/2026
NTP Technology announces that ST 2110-30 audio-over-IP connectivity with AES67 and RAVENNA capabilities is now available for the brand's world-class audio i...
19/08/2026
Net Insight has been selected to provide its Nimbra platform by the service provider Big Blue Marble, formerly ORS Group, as the core media transport solution f...
19/08/2026
LiveU has supported Coventry City FC and several other top-flight UK football clubs through one of their most demanding live production challenges of the year, ...
19/08/2026
Nature Seekers Documentary Shot with Blackmagic URSA Cine 12K LF
Brie Clayton August 18, 2026
0 Comments
Filming endangered turtles required camera...
19/08/2026
Neyrinck Brings D-Control Consoles Back to Life on Apple Silicon with D-Control ...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
19/08/2026
Riedel Communications today announced that Edith Cowan University (ECU) in Perth, Australia, implemented a comprehensive communications infrastructure that brin...
19/08/2026
QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, will spotlight a major leap forward in remote guest con...
19/08/2026
Integrated platform melds media asset management, playout automation and newsroom workflows
EMAM, PlayBox Neo and SNEWS have officially launched Nuvex, a conne...
19/08/2026
Screen Australia releases the Private Investment Toolkit to strengthen screen in...
19/08/2026
Do Aussies truly value local content? Unpacking Screen Currency 2026 with Deirdr...
19/08/2026
On Saturday September 5 Katie Taylor will step into the ring for the fight of her life against Flora Pili in front of 80,000 fans in Croke Park. A legendary fig...
18/08/2026
SportStream 2026, a free three-day virtual event, will take place September 15-17. One registration provides access to all three days of live programming and on...
18/08/2026
BeckTV will introduce BeckFlow to the European market at IBC2026, demonstrated on the Providius stand (10.F53).
BeckFlow is a web-based schematic documentation...
18/08/2026
Boland Communications will introduce a SMPTE ST 2110 input option for its 4K monitors at IBC2026, along with a new 55-inch super-narrow bezel display for video ...
18/08/2026
Dolby Laboratories and the Seattle Seahawks have announced a partnership integrating Dolby OptiView into the Seahawks' live streaming coverage, making the S...
18/08/2026
For BMG Executive Producer of Sports Production, Graham Taylor, producing live s...
18/08/2026
TMRW Sports has appointed Rufus Hack as President of Golf, a newly created role in which he will lead the company's golf businesses including TGL presented ...
18/08/2026
SMT will provide race technology for FOX Sports' coverage of the Freedom 250 Grand Prix of Washington, D.C. on August 23, when the NTT INDYCAR SERIES races ...
18/08/2026
The live, YouTube-native roundtables combine fan voices, credentialed reporters,...
18/08/2026
Behind The Mic provides a roundup of recent news regarding on-air talent, includ...
18/08/2026
The industry legend sounds off on replacing the Heat's iconic Medusa score...
18/08/2026
William F. Rasmussen, the sports fan-turned broadcaster and entrepreneur whose out-of-the-box idea of a 24-hour cable sports network, ESPN, changed forever the ...
18/08/2026
DAZN Group has completed its acquisition of ViewLift, a provider of streaming and digital solutions for sports content owners. The acquisition was first announc...
18/08/2026
The American Association of Professional Baseball (AAPB) has added SI TV, Sports Illustrated's 24/7 streaming channel, as a broadcast partner for the remain...
18/08/2026
The Esports Foundation has announced that the inaugural Esports Nations Cup (ENC), originally scheduled for November 2026 in Riyadh, will be postponed to Novemb...
18/08/2026
Diversified has announced a new Global Managed Services Practice, consolidating the company's managed services capabilities into one organization. Rob Mello...
18/08/2026
Appear has completed a proof of concept with Thoroughbred Racing Productions (TRP), demonstrating multi-camera remote live production over bonded 5G cellular an...
18/08/2026
Riedel Communications has announced that Edith Cowan University (ECU) in Perth, ...
18/08/2026
Company launch with stereo-imaging tool
Panoramic is the debut release from Panorama Labs, a new company formed by mastering engineer Nicholas Di Lorenzo. C...
18/08/2026
Control software now available for older interfaces
Focusrite have just announced the launch of an update that extends Control 2 software support their Scar...
18/08/2026
The National Film and Video Foundation (NFVF), an agency of the Department of Sp...
18/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/08/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
18/08/2026
Lightware announces an integration with SpectralBot that helps system integrators and AV operators troubleshoot faster using augmented reality (AR), AI-assisted...
18/08/2026
Command Frame for After Effects
Scott Black August 18, 2026
0 Comments
Free download, demonstrations, hands-on tests, and creator resources
Want to t...
18/08/2026
At Stand 14.A57, the data company will demonstrate GreenDot and IBM Aspera together, giving media and entertainment businesses real-time visibility of what thei...
18/08/2026
New tool provides a robust audit of operational workflows, calculating the tangible value each delivers today, and informing business decisions for tomorrow.
W...
18/08/2026
Media Utilities is integrating its activities into DigiNet and will maintain a recognisable presence in the market under the name: Media Utilities, a DigiNet br...
Written on 25 Feb 2021 
