SES still hurting
October 25, 2019
By Chris Forrester
Satellite operator SES has reported its 9-month numbers with revenues down 3.9 per cent, EBITDA down 6.6 per cent and operating profit down 19 per cent (all at constant foreign exchange rates).
Video revenues were down 8.1 per cent, but the growing Networks division reported further strong revenue increases up 5.1 per cent overall, and with the Mobility segment up an impressive 14.6 per cent.
CEO Steve Collar stated: “For the seventh consecutive quarter, our results are in line with our expectations and with the outlook that we have given to the market, reflecting our on-going focus on execution in the core of our business. As expected, we are seeing revenue and EBITDA expansion flowing through in the second half of 2019 with strong control over costs and discretionary spending and the continued rationalisation and simplification of our business and organisation. Execution remains the focus for the rest of the year as we look to close out 2019 with a strong Q4 outturn, much as we did in 2018 and implied in our financial outlook which remains unchanged.”
He spoke of the addition of a new video DTH platform for Ethiopia, but in the early morning release made no mention of the changes likely to flow from the loss of the Viasat DTH bouquet now being re-located onto a Telenor-owned satellite.
Backlog for Q3 stood at €6.6 billion.
SES is delivering 8219 TV channels, of which 2867 were in high-definition. It was providing 45 Ultra HD channels.