SES: Q1 revenue 8% up
May 9, 2014
By Chris Forrester
Satellite operator SES reported Q1 revenues of €465.6 million (€440.9m) for the three months to March 31st, up 8 per cent at constant foreign exchange rates, which translates into 9.3 per cent improvement in EBITDA. Profits are €150.2 million, and a forward contract backlog of €7.4 million.
New CEO Karim Michel Sabbagh said: “Video remains at the core, and we are seeing accelerated developments in other applications. Revenue growth in the quarter was strongly driven by the international segment, with a full contribution in the period from SES-6, complemented by the sale of capacity to Eutelsat following the comprehensive settlement agreed in January. Concurrently, we are maintaining our positive trajectory in developed markets, notably in Europe.”
“In the first quarter, we have brought the ASTRA 2E and SES-8 satellites into operation; we successfully launched ASTRA 5B, which is now undergoing in-orbit testing; and we announced the procurement of SES-10, which will enable us to pursue further growth opportunities in Latin America. These are important elements of our future growth.”
Sabbagh reported that there are further problems with one of the fleet’s craft, on AMC-6 (which serves North America) which lost a further 5 transponders during the quarter because of a solar array failure.