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Bank: SES Q2 decline expected

August 2, 2023

Investment bank Exane/BNPP, in a note to clients, expects satellite operator SES to report a 3 per cent fall in revenues for its Q2 trading period. SES will unveil it numbers on August 3rd.

Sami Kassab, an equity analyst at the bank, suggests that SES will report overall revenues of €487 million. The operator’s important Video division is expected to report further falls in overall revenues of some 4 per cent to €238 million.

SES Networks, by and large an increasingly important performer in the SES portfolio, is also expected to suffer a decline. The bank suggests a 1 per cent decline to €249 million.

The quarterly numbers will be presented by Ruy Pinto, the company’s acting CEO. He took over from Steve Collar in June.

Kassab says: “Given the absence of a launch date for mPOWER [satellites] 5 & 6 and the time it takes for electrical satellites to reach their final orbit, we believe management is likely to yet again push back the entry service date of mPOWER to possibly Q1/2024. We continue to believe in the future commercial success of mPOWER but are cautious ahead of this publication.”

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