SES S.A. today announced its financial results for the nine months ended 30 September 2019 with financial performance continuing to be in line with SES’ expectations; sequential growth in quarterly revenue and EBITDA and financial outlook unchanged.
Key financial highlights (YTD 2019)
Reported revenue of EUR 1,451.9 million, down 3.9% at constant FX(1)
Underlying revenue(2) of EUR 1,433.5 million; down 3.6%(1) (Video: -8.1%(1,2) and Networks +5.1%(1,2))
EBITDA of EUR 889.6 million, representing a margin of 61.3% (YTD 2018: 63.1%) or 62.3% excluding restructuring charge
Net profit attributable to SES’ shareholders of EUR 249.9 million
On track to deliver financial outlook (with nearly 95% of FY 2019 expected group revenue now contracted)
1) Comparative figures are restated at constant FX to neutralise currency variations 2) Excluding periodic and other revenue (disclosed separately) that are not directly related to or would distort the underlying business trends
Steve Collar, CEO, commented: “For the seventh consecutive quarter, our results are in line with our expectations and with the outlook that we have given to the market, reflecting our on-going focus on execution in the core of our business. As expected, we are seeing revenue and EBITDA expansion flowing through in the second half of 2019 with strong control over costs and discretionary spending and the continued rationalisation and simplification of our business and organisation. Execution remains the focus for the rest of the year as we look to close out 2019 with a strong Q4 outturn, much as we did in 2018 and implied in our financial outlook which remains unchanged.