SES has posted a net profit of €600.8 million for 2014, a 6% increase on the previous year.
Its revenues over the same period amounted to €1,919.1 million (+4%) and EBITDA €1,428 million (+5%) at constant FX.
During 2014, the total number of channels broadcast via SES’s satellite fleet increased by 4.7% to 6,529, equivalent to 17% of the world’s total satellite TV channels. This included an increase of 5.1% in HD channels from 1,793 to 1,885, equivalent to 25% of the total market.
Looking ahead, SES says that although seven new satellites are under construction, only one (SES-9) is due to be launched this year. There will also be fewer outright transponder sales this year than in 2014.
It adds that group revenue and EBITDA of up to 1% at constant FX will be delivered through the commercialisation of existing capacity.
EBITDA margin is expected to be above 82% for SES’s infrastructure business, and between 14% and 18% for the services business.
Commenting on the results, Karim Michel Sabbagh, president and CEO, said: “SES delivered another year of strong revenue and EBITDA growth in 2014. This reflects a series of successes in key market verticals and geographies in securing new business, as well as further serving our long-standing customers. We have continued to execute on SES’s strategic principles for delivering long-term profitable growth, and enhancing our world-leading satellite operations. We have expanded our core video business by developing new neighbourhoods, securing new contracts and increasing channel count. Our investments in innovative solutions that bring together linear and non-linear broadcasting are also paving the way for the introduction of Ultra HD TV. Data and Mobility applications are an increasing source of demand, and SES has continued to build its capabilities across multiple verticals – securing major new contracts for fixed networks as well as maritime and aeronautical connectivity. Our government business has continued to develop, with
important new business wins despite the prevailing US budget constraints. Within the business, our focus on operational optimisation has improved margins and enhanced overall profitability.
“Looking forward, 2015 will be a year in which SES continues to build for future growth. The recent announcements of the SES-14, SES-15 and SES-16/GovSat programmes demonstrate SES’s commitment to generating long-term revenue growth as part of our existing investment plan. These satellite programmes will use the latest technological innovations and leverage SES’s differentiated capabilities to deliver new capacity that will optimally serve attractive market verticals across the globe.”
