SES “continues on growth track”

Luxembourg-based SES reported that it was continuing on its growth track in reporting its first quarter-year results early on May 11. Its y-o-y revenues grew 5.1 per cent (to €450 million), generating EBITDA of €337.3 million (up 4.9 per cent) and a margin of 74.9 per cent. Its contract backlog rose some €260 million from €6.83 billion to €6.59 billion.

CEO Romain Bausch reported that its major operational changes, implemented during 2011, where its sales operations were consolidated into regions (and not via the legacies inherited from SES New Skies, SES Americom, etc.) had now wrapped.

This meant that European revenues increased y-o-y by 3.7 per cent and a growth in transponder capacity of 32, with utilisation growing by 22 transponders. North American revenues declined, however, by 2.4 per cent. SES’s ‘international’ division increased revenues by 8.6 per cent.

SES’s guidance is for recurring revenue and EBITDA growth of approximately 2 per cent and 1 per cent, respectively, in 2012 and for 2012-2014 revenue and EBITDA CAGR of approximately 4.5 per cent and 4 per cent, respectively.

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