Strong quarter for SES

SES has reported stronger-than-expected results for Q3 during a challenging period for the Satellite operator industry.

The company’s core video business, which represents around 60% of its revenues, experienced a 4.6% revenue drop as customers like Sky, Canal+ and the BBC continue to invest in their OTT businesses. 

SES’s Network business fell by 1.3%, with commercial shipping revenues offsetting the drop in demand for commercial aviation and cruise lines. 

Overall, the group reported Q3 EBITDA of €279m million, with total revenues of €444 million. This narrowly surpassed analyst expectations of EBITDA of €271.1 million on revenues of €443 million. 

Steve Collar, CEO of SES, said: “Our laser focus on execution has delivered another solid quarter and we remain fully on track to deliver on our FY 2021 group revenue and EBITDA outlook. The strength and resilience of our Video business is reflected in the improved FY 2021 outlook on the back of important renewals and new business signed across our core neighbourhoods, and the continued positive momentum of our HD+ platform in Germany.”

Collar praised the successful launch of SES-17 last month, describing the satellite as “an important step in realising our vision of a seamless, integrated, and cloud-enabled network of the future.”

The CEO also added that SES has completed Phase One C-band clearing in the US ahead of the December 2021 deadline and it is on course to complete Phase Two clearing by December 2023.