SES: Half Year 2019 Results

SES S.A. announced its financial results for the six months ended 30 June 2019 with performance in line with SES’ expectations, continued growth in Networks’ revenue and financial outlook unchanged.

Key financial highlights

  • Reported revenue of EUR 961.4 million, (down 5.1% at constant FX(1))

  • Underlying revenue(2) of EUR 950.6 million; down 4.2%(1) (Video: -8.8%(1,2) and Networks +5.0%(1,2))

  • EBITDA of EUR 584.5 million representing a margin of 60.8% (H1 2018: 63.3%); 62.0% excluding restructuring charge

  • Net profit attributable to SES shareholders of EUR 169.2 million

  • Free Cash Flow before financing activities of EUR 379.8 million with investing activities 30.3% lower than H1 2018

  • Financial outlook unchanged

Steve Collar, President and CEO, commented: “We’ve had a solid first six months with financial results in line with our expectations, with continued revenue growth in Networks, strong control over cost and discretionary spending and important progress towards reshaping SES with the objective of delivering exceptional services and driving customer success.

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