New Skies adds to solid SES results

SES has closed the financial year with a 28.4% increase in revenues. President and CEO Romain Bausch said the company had built on its solid place within the industry and that the acquisition of New Skies had already delivered synergies.

Revenues for the 12 months to December 31, 2006 were €1,615.2 million compared to €1,615.2m in 2005. EBITDA was up by 22.6% to €1,080.4m delivering net profit of €435.8m, an increase of 14.1%.

Bausch said last week’s announced buyback of shares from GE would deliver value to share holders that would be boosted by the cancellation of the bulk of the acquired shares. “The outlook for 2007 is positive. SES forecasts continued revenue growth which, with the planned share buyback and increased dividend, delivers industry-leading total returns to shareholders.”

Demand for satellite capacity within Europe remains strong with SES establishing a new market in Central and East Europe. The company also sees the development of high definition television as a feature of demand growth over the next few years. (JC)