BRIEF

on SES GLOBAL (EPA:SESG )

SES Reports Stable Q1 2025 Results Amid Strategic Growth

SES S.A. has released its Q1 2025 financial results, with revenues at €509 million, a slight decrease of 0.5% year-on-year (yoy), while adjusted EBITDA stands at €280 million, marking a 0.9% decline yoy. Excluding periodic impacts, both metrics showed growth, indicating a solid start to the year.

The Networks segment, now 60% of total revenue, increased by 8.4% yoy, driven significantly by government and mobility sectors. Conversely, Media revenue dropped by 10.6% due to market maturity and specific regional challenges.

SES secured €360 million in new and renewed contracts during the quarter. The O3b mPOWER satellites 7 & 8 have reached their final orbital positions, enhancing network capability from May. The pending acquisition of Intelsat is expected to complete in H2 2025, positioning SES to optimize their combined debt structure.

R. H.

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