Investment bank BNP/Paribas has resumed coverage of Eutelsat and taken advantage of the move to take a close look at Europe’s two satellite giants Eutelsat and SES. The report is not overwhelmingly positive. It favours SES with a reiterated ‘positive’ recommendation, but its view of Eutelsat is reiterated as ‘negative’. The bank also cautions that […]
SES has received the $2.99 billion (€2.81bn) C-band compensation payment from the FCC. In its Q3 results, issued two days earlier than initially announced, it also stated that its next pair of O3b/mPOWER satellites will be launched in the next few days. Q3 highlights are: Revenue (Year to Date) of €1.494 billion (+0.2 per cent […]
A report from investment bank BNPP’s Sami Kassab says that October 16th is the likely date when satellite operator SES will receive about $2.99 billion as its share of the FCC’s C-band compensation scheme. SES is also involved in litigation over about $400 million from Intelsat in its claim for a larger percentage of the […]
The commercial agreement between SES and SpaceX’s Starlink to jointly serve the fast-growing cruise market is a major move for both businesses. SES, using its O3b medium Earth orbiting (MEO) satellites, and SpaceX’s Starlink, both have existing relationships with cruise lines. This new relationship will see SES sell and manage multi-orbit connectivity services into the […]
SES told analysts that while it was looking forward to banking some $3 billion in cash from the FCC’s C-band compensation scheme (and likely to be banked early to mid-Q4/2023) there was more cash likely to be forthcoming. CFO Sandeep Jalan’s advice was to “stay tuned”. Acting CEO Ruy Pinto and Jalan were briefing analysts […]
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 […]
Sami Kassab, an analyst with investment bank Exane/BNPP, in a flash note to clients says he expects SES to reaffirm its financial guidance for 2023 and also to “provide an update on merger talks with Intelsat”. SES will deliver its Q1 2023 numbers on May 4th. Kassab reminded clients that SpaceX successfully launched two important […]
Investment bank Exane/BNPP, in a comprehensive report on the proposed merger between satellite operator Eutelsat and Low Earth Orbit constellation OneWeb, says the “increase in interest rates, inflation, the war in Ukraine, [OneWeb] Gen 2 funding requirements all suggest a bit of patience could have improved the financial outcome for minority shareholders… but the new […]
Technically, Elon Musk’s Starlink is working well. Musk’s generous supply of free Starlink terminals to fighters and military logistical technicians in Ukraine is both praiseworthy and a clear example as to how emergency supply of equipment can be managed. But making Starlink work for a global audience is a different – and major – problem, […]
Eutelsat, a significant shareholder in low-Earth orbit constellation OneWeb – which has some two-thirds of its fleet (428 craft) already in space, says that it sees OneWeb generating $1 billion (€0.96bn) in revenues within 3-5 years of its deployment. A note from equity analyst Sami Kassab at investment bank Exane/BNPP to clients anticipates that OneWeb […]