France · Delayed Price · Currency is EUR SES S.A. Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 delivered strong revenue and EBITDA growth, driven by Networks and Media, with robust contract renewals and disciplined cost management. The outlook for 2026 remains stable, supported by ongoing integration synergies, strategic investments, and a solid backlog.
Fiscal Year 2025
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2025 saw strong reported growth from the Intelsat integration, with revenue up 34% and Adjusted EBITDA up 19%, though like-for-like results declined due to Media and Fixed Data headwinds. 2026 is expected to be stable, with continued synergy realization, disciplined CapEx, and growth in government and aviation segments.
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The company delivered strong reported growth in revenue and EBITDA for the first nine months of 2025, driven by the Intelsat acquisition, though like-for-like results declined due to equipment sales and timing impacts. Integration and synergy realization are ahead of plan, with government and aviation segments showing robust growth, while media remains cash-generative despite structural headwinds.
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Closed Intelsat acquisition, doubling revenue and strengthening multi-orbit capabilities. H1 2025 results show stable revenue, strong Networks growth, and robust cash flow, with synergy execution underway and guidance reaffirmed for sustainable growth and deleveraging.
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Q1 2025 delivered stable revenue and EBITDA, with strong network growth offsetting media declines. The Intelsat acquisition is on track for early H2 2025, and new satellite launches will expand capacity and support future growth. Net leverage remains low and cash flow generation is robust.
Fiscal Year 2024
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2024 saw stable revenue and EBITDA at the top end of guidance, driven by strong growth in government and Mobility, while Media declined as expected. The Intelsat acquisition is on track, with significant synergies and robust cash flow outlook reaffirmed.
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Solid operational and financial results with revenue and EBITDA at the top end of 2024 guidance, driven by growth in networks, government, and mobility segments. Intelsat acquisition and IRIS² contract progress support future growth, with strong cash flow and shareholder returns.
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H1 2024 results were solid, with stable revenue and EBITDA, strong growth in networks, and robust cash flow. The Intelsat acquisition is on track, and guidance for 2024 remains unchanged, with mitigation plans for a 2025 media revenue headwind.