SES: cuts FY 2020 targets
(CercleFinance.com) - On the publication of its interim results, SES has reduced its target ranges FY 2020, now expecting adjusted EBITDA of between 1,120 million and 1,160 million euros, with sales of 1,860-1,900 million euros.
In the first half of 2020, the satellite operator's adjusted EBITDA declined by 2.3% to 582 million euros (-3.5% at constant exchange rates), with revenues down 1.5% to 947.5 million euros (-2.4% on an underlying basis).
The group said that it delivered solid revenues in difficult business conditions, while reaping the benefits of proactive cost savings measures taken early on against the onset of Covid-19.
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In the first half of 2020, the satellite operator's adjusted EBITDA declined by 2.3% to 582 million euros (-3.5% at constant exchange rates), with revenues down 1.5% to 947.5 million euros (-2.4% on an underlying basis).
The group said that it delivered solid revenues in difficult business conditions, while reaping the benefits of proactive cost savings measures taken early on against the onset of Covid-19.
Copyright (c) 2020 CercleFinance.com. All rights reserved.