SES President and CEO Romain Bausch has warned the continuing delays to the launch of the Astra 3B satellite may reduce revenues later in the year.
The operator of the Astra and New Skies satellites reported first quarter revenues of €423.4 million, on a par with the €423.9 in the first three months of 2009, and operating profit of €188.2 million.
Bausch said the results provided a solid base from where the company could progress later in the year. “However, due to the delay to the launch of the Astra 3B satellite, and the reduction of revenue from AMC-16, we consider it prudent to slightly adjust the guidance that was published in February.”
Financial guidance for 2010 has been adjusted from around 5% recurring revenue growth, to a target range of 4% to 5%, with recurring EBITDA increase in line with the recurring revenue growth.
The launch of Astra 3B has been postponed twice since the scheduled launch date of March 25. Arianespace is now targeting a date in mid-May.
Following consultation with customers a number of AMC-16 transponders were shut down in mid-March to conserve power.