SES: 9m sales down 2.9%

(CercleFinance.com) - Satellite and telecom network provider SES today reported 9m 2020 results to 30 September 2020.
At 1.41 billion euros revenues for the first nine months were down 2.9% y-o-y.

At the same time, adjusted EBITDA followed the same trend, falling from 903 million euros to 884 million euros. However, net profit fell by 38% from 250 million euros to 154 million euros.

However, the group is expected to meet its financial forecasts for the financial year 2020, with 97% of anticipated revenues already contracted, it says.

This includes refocusing measures, steps to simplify operations achieving additional EBITDA of 40-50 million euros p.a. from 2021 onwards.


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