SES Reports First Quarter 2015 Earnings – Satellite Today

SES headquarters

SES’ headquarters. Photo: SES

[Via Satellite 05-07-2015] SES reported revenues of $538 million during its first quarter 2015 results, an increase of 2.6 percent over the year prior, but down 4.9 percent when measured at “constant FX,” which refers to the restatement of comparative figures to neutralize currency variations to facilitate comparison.

Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) rose by 3.2 percent, though it was down 4.6 percent at constant FX compared to last year. SES’ contract backlog as of March 31, 2015 stood at $8.3 billion.

“The revenue and EBITDA comparison is impacted by the sale of transponders to Eutelsat recorded in Q1 2014 and by the terms of the AMC 15/16 capacity renewal agreements with EchoStar in advance of the launch of SES 11 at the end of 2016. Taking these factors into account, Q1 2015 revenue at constant FX was in line with the prior year period,” said Karim Michel Sabbagh, president and CEO at SES. “Looking forward, we continue to develop our competitive position in video and are building our capabilities to meet the requirements of next generation data. The addition of HTS capacity on SES 14 and SES 15 will — along with SES 12 — allow us to provide more flexible and efficient fixed/mobile data solutions on a global scale.”

SES’ technical reach grew by 7 percent year over year to 312 million TV homes, of which the international fraction grew by 14 percent year over year to 75 million. The company’s international segment now delivers more than 30 percent of group revenue.

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