
Luxembourg, 8 November 2013 - SES S.A. (NYSE Euronext Paris and Luxembourg Stock Exchange: SESG) reports financial results for the nine months and three months ended 30 September 2013.
1. FINANCIAL HIGHLIGHTS: Organic growth sustained
YTD Q3 2013 growth compared to prior year period
As reported
At constant FX
Excluding analogue, at constant FX
Revenue
1.4%
2.4%
5.7%
EBITDA
-0.3%
0.8%
5.3%
YTD Revenue of EUR 1,378.2 million
An increase of 2.4% at constant exchange rates ( constant FX ) over the prior year period; 5.7% when excluding the EUR 42.6 million of analogue revenue recorded in 2012
YTD EBITDA of EUR 1,009.3 million
An increase of 0.8% at constant FX over the prior year; 5.3% when excluding analogue
EBITDA margin of 73.2% (2012: 74.4%)
YTD Profit of the group EUR 413.4 million (2012: EUR 456.4 million)
Closing Net Debt / EBITDA ratio of 3.01 (30 September 2012: 3.02)
Fully protected contract backlog of EUR 7.4 billion, representing 4.1 times 2012 revenue
Romain Bausch, President and CEO, commented:
SES has delivered a robust performance in the year to date. We have increased our capacity and are commercialising new market opportunities. Forthcoming launches will further develop this capability and create the conditions for future growth. Our European business, which is almost entirely Video DTH, continues to grow (revenue 5.6%, when excluding analogue). New business and renewals with major customers, including Sky Deutschland and Arqiva, have contributed to an increase in the contract backlog to EUR 7.4 billion. In the International segment (revenue 12.5%) we have added a number of new DTH platforms, in Latin America, Africa, and the Asia-Pacific region. Although the launch schedule continues to be subject to some delays, total revenue growth (excluding analogue) was 5.7%, with considerable momentum from the video business.
Despite some delays experienced earlier this year with regard to new satellite launches, we have significantly expanded our capacity with the launch of SES-6 in June and ASTRA 2E in September, and we now expect to launch SES-8 later this month, followed by ASTRA 5B in early December.
SES 2013 revenue and EBITDA growth guidance at constant FX, of 3-4% and 2.5-3.5% respectively, and 5.5-6.5% excluding analogue, is reiterated.
Our performance to date as well as our fleet development underscore SES commitment to growing its presence in the developed markets and to accelerate inroads in emerging markets. Our investments are focused on growth opportunities based on differentiated offerings and secured anchor customers in the video business. We are continuing to build DTH neighbourhoods. In the data business, the numerous contracts signed so far this year underscore the complementarity of SES geostationary satellite capacity with the High Throughput Satellite (HTS) capabilities of the O3b Networks Mid-Earth Orbit (MEO) constellation.
SES is now entering a period in which capital expenditure will reduce significantly, even while additional growth investments are pursued. This, coupled with rising revenue and EBITDA, will deliver strong growth in free cash flow, which may be applied to further profitable investments and acquisitions and/or be returned to shareholders.
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For further information:
Mark Roberts
Investor Relations
Tel. 352 710 725 490
Mark.Roberts@ses.com
Yves Feltes
Media Relations
Tel. 352 710 725 311
Yves.Feltes@ses.com
Additional information is available on our website www.ses.com
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