SES has grown revenues by 21% in a strong first quarter performance. The Luxembourg-based satellite operator reported revenues of €399.5 million, but net profit fell to €97.7 million from €118.3 milion in 2006, as a result of the February 2006 sale of SES Ré S.A and Q1 2007 charges related to the failure of the NSS-11 satellite. The results included revenues from the assets transferred to GE in February’s spin-off.
”The year has begun extremely well, with the conclusion of a significant agreement with Canal+ for the transmission of its French pay-TV offer on ASTRA and the completion of the transaction with GE. These two events deliver a combination of guaranteed growth in Europe and improved development potential for our assets worldwide,” said SES president and CEO Romain Bausch. He added that subsequent cancellation of GE shares had delivered additional value to shareholders.
As of March 31, 761 of 1,028 commercially available transponders (74%) were in use. SES Astra had an impressive utilisation rate of 88%, representing 232 of 263 transponders.