SES: satellite spinning despite meeting pre-Covid targets
(CercleFinance.com) - The SES share is down on Thursday, even though the Luxembourg satellite operator met its operating profit targets for the third consecutive year.
For the year, SES reported adjusted EBITDA of 1.15 billion euros, in line with its targets set before the Covid crisis and at the top of its guidance range provided mid-year.
The group also reported a "resilient" outlook, with an adjusted annual EBITDA target of 1.06 to 1.10 billion euros for 2021, with expected revenues of between 1.76 billion to 1.82 billion euros.
Over 80% of the anticipated revenues for 2021 are already from signed contracts, the group pointed out.
It also announced on Thursday that it had extended its satellite capacity contract with British broadcaster Sky, an agreement that guarantees it 90 million euros in its order backlog.
The SES share is down over 4% in the early morning trading in Paris, bringing its YTD loss to 16.5%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
For the year, SES reported adjusted EBITDA of 1.15 billion euros, in line with its targets set before the Covid crisis and at the top of its guidance range provided mid-year.
The group also reported a "resilient" outlook, with an adjusted annual EBITDA target of 1.06 to 1.10 billion euros for 2021, with expected revenues of between 1.76 billion to 1.82 billion euros.
Over 80% of the anticipated revenues for 2021 are already from signed contracts, the group pointed out.
It also announced on Thursday that it had extended its satellite capacity contract with British broadcaster Sky, an agreement that guarantees it 90 million euros in its order backlog.
The SES share is down over 4% in the early morning trading in Paris, bringing its YTD loss to 16.5%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.