Strong ‘Networks’ growth expected from SES

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SES will report its Q3 revenues on November 5th and Investment bank Exane/BNPP expects overall revenues to fall, but say that the satellite operator’s fast-growing Networks division to show further growth.

The bank says it expects overall revenues at SES to fall back 3.1 per cent to about €454 million for the quarter. It suggests that the decline in SES Video revenues will again fall, and expects an 8 per cent decline in the division’s organic revenues.

“We continue to expect Government and Fixed Data to accelerate their rate of growth in Q3 2020 but Mobility to suffer a slow down due to the Covid 19 impact on the aeronautical industry,” says the bank’s note to clients.

However, the bank highlights the likely growth in SES Network’s division and expects the rise in revenue to be a little slower than the 6.5 per cent enjoyed in Q2, and says it expects Q3 revenues to rise by 5 per cent.

“We expect this reporting to mark the 11th consecutive quarter of revenue growth at SES Networks to underpin our positive view on the stock,” says Exane/BNPP.


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