Thursday, 1 November 2007

SES Q3 Delivers Strong Recurring Revenue

SES, the worldwide pre-eminent satellite operator worldwide reported its third quarter financials at EUR 406.9 million-- a solid recurring growth of 9.9 percent. According to SES, during the quarter, all group operating companies added new business, demonstrating...

SES, the worldwide pre-eminent satellite operator worldwide reported its third quarter financials at EUR 406.9 million-- a solid recurring growth of 9.9 percent.

According to SES, during the quarter, all group operating companies added new business, demonstrating the favourable market conditions for satellite broadcasting capacity and satellite services.

“Despite the introduction of additional satellite capacity via the move of ASTRA 2C to 28.2 degrees East, the group fleet utilisation rate has remained high, at 75%. The growth of our operational business, coupled with some financial developments and our ongoing share buyback activities, translates into a strong earnings per share growth through the year,” commented Romain Bausch, President and CEO of SES,

“This positive trend will continue. We have revised upwards our 2007 guidance for both revenues and EBITDA.”

SES shared its outlook for the future stating that it will continue to secure organic growth. This will be supported by the new capacity that is scheduled to be launched into orbit, namely SIRIUS-4 in November 2007, AMC-14 in February 2008, ASTRA 1M and AMC-21 in Q2 2008, and Ciel-2 in Q4 2008.

In addition, it will continue to assess potential select acquisitions that may complement its assets in key markets amongst other initiatives that are in the midst of development to add value to the organisation. This includes taking a group-wide approach to securing in-orbit insurance that has resulted in a favourable development in the insurance premiums payable.