SES has posted a net profit of €290.9 million for the first half of this year, an 8.5% increase on the €268 million it had in the same period in 2013.
In what was a generally strong first six months of the year for the satellite operator, its revenues amounted to €938.9 million (+6.3% year-on-year at constant FX) and EBITDA €693.8 million (+7.4%).
SES ended last month with a transponder capacity of 1,530 (1,436 in June 2013) and an utilisation rate of 72.5%.
Within Europe, the latter stood at 72.5%, while in North America it was slightly lower 70.4% and internationally 70.2%.
In terms of forthcoming launches, SES has four satellites under development, with Astra 2G, targeting the UK and Ireland/EMEA, now expected in Q4 this year.
SES broadcast 6,481 channels, 1,817 of which were HD, over its satellites as of the end of June. In Europe, an important contribution to H1 revenues was from the sale of capacity at 28.5 degrees East to Eutelsat, following on from an agreement signed in January this year.
Demand for capacity in Europe was particularly strong during the World Cup, with SES satellites delivering over 39,000 hours of coverage.
SES notes that revenues in North America decreased by 13.5% year-on-year to €167.2 million in H1, reflecting the absence of revenue from government contracts which were not renewed due to federal budget management measures. International revenues, on the other hand, increased by 8.2% to €257 million, with SES6 a significant driver and Brazilian DTH operations contributing fully in the period.
Commenting on the results, Karim Michel Sabbagh, President and CEO, said: “SES’s continuing successful development and execution of the 2014 plan has delivered robust first half results that validate our strategy to address target regions and market verticals. Video remains core to our business. Europe and the International segments posted strong growth, while the North American segment continued to be affected by the U.S. Government budget sequester. The 2014 financial guidance is reiterated.
“Three satellites were brought into service in the period, further developing our capabilities in Europe, MENA and Asia-Pacific. Four more satellites are under construction, including the newly announced SES-12, a hybrid satellite for the Asia-Pacific region, which will benefit from the dual innovations of an HTS payload and all-electric propulsion. These programmes, all components of our medium term CapEx plan, will enhance our differentiated positioning in the developing markets that we are targeting.
“On 10 July 2014, O3b Networks, the satellite company building ‘Fibre in the Sky’, in which SES has a significant interest, successfully launched its second group of four satellites. O3b’s full suite of commercial services will be offered once in-orbit testing is completed. We look forward to O3b’s successful commercialisation of its product range with customers across the underserved markets of the world.”
