
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...
08/09/2026
Comcast Technology Solutions (CTS) has announced a multi-year agreement with A E...
08/09/2026
Spectra Logic today announced the availability of Media Insight, a new capabilit...
08/09/2026
Rogers Communications and Quebecor have announced a 12-year sublicensing agreement for French-language national NHL games beginning with the 2026-27 season. TVA...
08/09/2026
Skyline Communications and Bridge Technologies will demonstrate two integrations...
08/09/2026
Boland Communications will make the European debut of its 4K55HDR7SNB 55-inch super-narrow-bezel monitor at IBC2026 (Stand 12.C57, RAI Amsterdam, September 11-1...
08/09/2026
Ateme and Comcast Technology Solutions (CTS) have announced a collaboration comb...
08/09/2026
Haivision has joined the IBC Accelerator Media Innovation Programme as part of t...
08/09/2026
Blackmagic Design has announced price reductions on its PYXIS 6K and Cinema Camera 6K models, effective immediately through Blackmagic Design resellers worldwid...
08/09/2026
AI-Media will demonstrate its LEXI Suite at IBC2026 (Booth 5.C34, September 11-1...
08/09/2026
Bitmovin and Ad Insertion Platform (AIP) have announced the first live deploymen...
08/09/2026
Grass Valley will demonstrate story-centric media workflows at IBC2026 (Booth 9.A01, RAI Amsterdam, September 11-14), connecting newsroom production, content ma...
08/09/2026
M2A Media and Ateme have announced a partnership integrating Ateme's video processing solutions into M2A Media's MediaToAnywhere platform for live sport...
08/09/2026
Ikegami will exhibit at IBC2026 (Stand 12.A31, RAI Amsterdam, September 11-14), including a Day 1 introduction of new cameras in the UNICAM XE series. Additiona...
08/09/2026
Broadcast industry analysts will be gathering plenty of insights at the 2026 IBC Show this weekend in Amsterdam, but Caretta Research has offered up some though...
08/09/2026
SENSHI and DAZN have announced a global broadcast partnership that will bring SENSHI's live events free to viewers in more than 200 markets. The partnership...
08/09/2026
New architecture built with Evertz will bring 4K HDR to Monday Night Football, N...
08/09/2026
Built for rap producers, by rap producers
Sauceware Audio, the independent plug-in company founded by Grammy-nominated producer Jacob (Travis Scott, 21 Sava...
08/09/2026
Classic Sound Techniques design revived
Warm Audio's latest release delivers a meticulous recreation of the preamp circuitry employed by the Sound Techn...
08/09/2026
Latest soft synth inspired by the Memorymoog
XILS Lab have just launched a software instrument that draws its inspiration from Moog's iconic Memorymoog,...
08/09/2026
The Airport Chaplain takes off as SBS's biggest launch of 2026
8 September, 2026
Media releases
1.67 million viewers on National Total TV to date
Best...
08/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/09/2026
Mo-Sys, the world-leading developer of virtual production, camera robotics and image tracking technology, has completed a business restructuring, which has incl...
08/09/2026
New York, September 8, 2026 The TSAmediaHUB audiovisual contribution and distribution infrastructure developed by Telef nica's Audiovisual Services area re...
08/09/2026
Expanded Riyadh operation brings Asharq and Thmanyah services together on a resilient on-premises Pebble platform.
Pebble, the leading automation, content mana...
08/09/2026
Techex, a pioneering leader in live video workflows, will showcase its broadest software feature set to date at IBC 2026 (Stand 2.B45), extending its lead in so...
08/09/2026
Visitors to Grass Valley's booth at IBC2026 will be introduced to new Framelight X capabilities that connect content acquisition, management, editing and pu...
08/09/2026
BCNEXXT will showcase the latest evolution of Vipe at IBC2026 (Stand 2.B09), introducing a series of innovations designed to deliver higher-quality audience exp...
08/09/2026
Bitmovin, a provider of video streaming solutions, has partnered with Ad Insertion Platform (AIP), a leading innovator in advanced ad insertion technologies, to...
08/09/2026
Brainstorm, a leading manufacturer of real-time graphics and augmented and virtual production, is announcing a major package of enhancements to its Suite 7 soft...
08/09/2026
Big Blue Marble is supporting TDF, French infrastructure and network operator, broadcasting Digital Terrestrial Television (DTT) and radio services, as a techno...
08/09/2026
Agents work inside a single production environment, from incoming wire copy to a live studio show...
08/09/2026
Building on their strategic partnership, Ceeblue and Layercake make the unthinkable possible: scalable sub-second streaming over standard DRM, SSAI, and CDN wor...
08/09/2026
Brainstorm, a leading manufacturer of real-time graphics, augmented and virtual production, is completing the environment for fast-paced broadcast production wi...
08/09/2026
A SaaS portfolio built to work together, helping operators grow audiences, monetise smarter and run leaner, on their own terms
At IBC 2026 (stand 1.B49) Synam...
08/09/2026
Accedo, global provider of video streaming software and services, has been selected by PlayOn Sports, a national leader in high school sports technology, to exp...
08/09/2026
LiveU, the leader in live IP-video solutions, is enabling The Associated Press to take global newsgathering to the next stage with intelligent connectivity and ...
08/09/2026
Mediagenix, a global leader in smart content solutions to profitably connect the right content to the right audience, today announced the latest evolution of it...
08/09/2026
Compact, power-efficient X Platform performance brings broadcast-grade reliability and ultra-low latency to space-constrained remote production (REMI) workflows...
08/09/2026
Zixi, the leader in live video delivery and workflow orchestration, and Kiloview, a leading provider of professional IP video encoding and decoding solutions, t...
08/09/2026
Collaboration gives content owners scalable CDN capacity and broadcasters enhanced flexibility, including for C-band transition planning
Quortex today announce...
08/09/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
08/09/2026
Telos Alliance and Pluxbox Announce Dynamic Media Facility Integration Partnersh...
08/09/2026
J nger Audio Showcases Industry-First S-ADM Cloud Workflow at IBC 2026
Search
Dolby, MainConcept, Techex and J nger Audio will showcase the industry's ...
08/09/2026
Tuesday 8 September 2026
Sky Go gets a major upgrade for Sky Glass and Sky Stream customers
Today, Sky launches a new version of the Sky Go app for Sky Glass ...
08/09/2026
Documentary thriller simulating a Russian attack on UK soil will culminate in a live final episode reuniting the playersTuesday 8 September 2026
Trailer releas...
08/09/2026
Tuesday 8 September 2026
Jamie Demetriou and Amelia Dimoldenberg to host next t...
08/09/2026
Wuppertal September 8, 2026
Riedel Introduces New OnAir Headset PlatformRiedel Communications today announced the launch of its new OnAir headset platform, a...