SES Reports Slight Decrease in YTD and Q3 2024 Results

SES S.A. has announced its financial results for the nine months and Q3 2024, reporting a revenue of €1,475 million, a slight decline of 1.1% compared to last year. The Adjusted EBITDA decreased by 2.0% to €775 million. The Networks segment, however, grew by 2.9%, driven by significant activity in Government, Aviation, and Cruise sectors.

The Media segment showed a steady performance, declining by 5.5% YTD, but improving in Q3 with a smaller decrease of 3.1%. SES secured €900 million in renewals and new business, including a $200 million contract with NATO and various media agreements.

SES's financial outlook for 2024 is trending towards the higher end of projections, supported by a robust cash flow of €262 million and a reduced net leverage of 1.1x. Plans for satellite launches continue as SES anticipates the completion of the Intelsat acquisition by H2 2025.