France · Delayed Price · Currency is EUR SES S.A. Earnings Call Transcripts
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%, while like-for-like results declined due to structural headwinds in Media and Fixed Data. The outlook for 2026 is stable, with continued synergy realization, disciplined CapEx, and a focus on government and defense growth.
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Solid nine-month results reflect the transformational Intelsat acquisition, with revenue up 19.8% and Adjusted EBITDA up 11% year-over-year. Integration is ahead of plan, synergy targets are being met, and 2025 guidance was reaffirmed, though headwinds in aviation and fixed data persist.
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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 network and Mobility growth, with strong cash flow and shareholder returns. The Intelsat acquisition is on track, and 2025 is expected to deliver stable results despite Media headwinds.
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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.