Investment bank Berenberg has downgraded satellite operator SES from ‘Buy’ to ‘Hold’. The bank has also reduced its share price target from €7.20 to €6.80. The bank’s report says that it believes that the operator’s cash warchest, made up of the receipts of the $3 billion from the FCC as compensation for releasing certain C-band […]
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 […]
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 […]
The merger discussions between the world’s two largest satellite operators, SES and Intelsat, are over. Intelsat said a deal, valued at a potential $10 billion (€9.1bn), is now off the table. SES announced June 22nd that discussions regarding a possible combination with Intelsat have ceased. On March 29th, SES had confirmed that the company had […]
The news that Steve Collar, SES’s CEO, is stepping down sent the satellite operator’s shares into near-meltdown. Over the past 5 days the SES share-price has fallen 14.70 percent, including a further 1.55 per cent on June 13th to an ‘all-time low’ of just €4.70. Confidence in SES seems to have evaporated. A report from […]
Satellite operator SES has announced that Steve Collar, Chief Executive Officer (CEO), will be stepping down at the end of June 2023 to pursue other professional and personal endeavours. The search for a successor is underway and Ruy Pinto, currently Chief Technology Officer of SES, will assume the role of CEO until a permanent successor […]
The normal transition for any departing CEO at a major quoted company is well established. Weeks – and sometimes months – of advanced notice are given to shareholders and the market of an impending change in leadership. That has not happened in the case of Steve Collar, the suddenly outgoing CEO at SES. Collar will […]
Raytheon Technologies-owned Collins Aerospace business will bring unlimited data to the customers of Vista, the private aviation group. Using Collins’ LuxStream, which runs exclusively on the SES’s high-throughput satellite (HTS) network, Vista customers can now access unlimited Internet for the duration of their flights. Since 2019, Vista has installed LuxStream on more than 75 aircraft […]
SES has reported a “solid” set of numbers with revenue of €490 million (+9.6 per cent YOY) including contribution from DRS Global Enterprise Solutions and a stronger US dollar. SES says it signed €90 million in new business for its Mobility division, and €110 million in either renewals or new business in Video. But Video […]
Luxembourg, already a major investor in SES, has announced it will leverage capacity on the SES O3b mPOWER fleet for government usage extending to Europe and NATO demand for defence and disaster recovery. The agreement also says it will support further “strategic partnerships” between Luxembourg and the US. Luxembourg’s Deputy Prime Minister, Minister of Defence, […]