SES announced financial results for the three months ended 31 March 2017.
“The first quarter 2017 results were fully in line with our expectations. SES returned to growth in Q1 2017 with all of our data-centric markets developing positively, and we remain well placed to deliver sustained growth in all four of our market verticals. ”
Delivering return to (like for like) growth in revenue and profitability
Revenue EUR 540.6 million, up 12.2% over prior period (up 1.0% like for like1)
EBITDA margin 66.2% and operating profit margin 34.5% (Q1 2016: 67.6% and 32.2% like for like1)
Net profit attributable to SES shareholders of EUR 128.4 million, up 11.5% over prior period
Net debt to EBITDA ratio2 3.05 times (Q1 2016: 2.43 times), in line with SES’s financial framework
Improved business mix supporting growth acceleration, re-affirming outlook for FY 2017
Substantial contract backlog of EUR 7.8 billion (Q1 2016: EUR 7.6 billion)
HDTV +6% (YOY) to 2,496 HDTV channels; total TV channels increased 4% (YOY) to 7,610 channels
Return to growth in Enterprise driven by enhanced go-to-market capabilities
Additional Mobility contracts signed with Global Eagle Entertainment and Gogo using existing assets
Return to growth in Government underpinned by expanding market reach
Karim Michel Sabbagh, President and CEO, commented: “The first quarter 2017 results were fully in line with our expectations. SES returned to growth in Q1 2017 with all of our data-centric markets developing positively, and we remain well placed to deliver sustained growth in all four of our market verticals.
The restructuring of SES’s go-to-market organisation model, with the creation of two natural business units, represents a further acceleration of our market-centric strategy. With SES Video and SES Networks, we are coalescing our differentiated capabilities to best serve customers globally.
The launch of SES-10 on SpaceX’s first ever mission using a flight-proven rocket was a further step towards more efficient launch capabilities, and is yet another demonstration of SES’s strategy of working with our industrial partners to be at the forefront of innovation.”