SES shares up 9% on results optimism
August 5, 2021
SES saw an impressive jump in its share price on August 4th, up 8.96 per cent to €7.07 per share (and at one point hitting €7.13) helped by favourable analyst comments and a general air of optimism backed by solid results.
Steve Collar told analysts that the decline in Video division revenues was easing (“flattening the curve”) and had fallen just 3.2 per cent in the quarter-year to June 30th, 3.9 per cent for the half-year overall and way better than the 8 per cent crash of a year ago.
Collar said that he was “modest in expectations” but that SES was doing well in Africa (especially Ethiopia) and Ghana and the recent 8-transponder deal in India with New Space India. Also helping considerably were recent contract wins or renewals at Sky and Comcast.
He also expressed “super optimism” about HD+ in Germany and HD+ in general which was now contributing €120 million to SES revenues and was “nicely profitable”. SES Video had already booked more than €250 million in new and renewed business this year (and €650 million in 2020).