However, its total revenue over the same period increased by 2.6% to €448 million.
Adjusted EBITDA was €274 million (+2.4%) and adjusted net profit €88 million (+17.3%).
The company notes that excluding US wholesale, video was 4.1% lower than Q1 2021 as ‘right-sizing’ of volumes in mature European markets was partially offset by growth in HD+ and Sports & Events.
As of March 31, SES delivered a total of 8,164 TV channels to 366 million TV homes around the world, including 3,054 HD channels.
Over 70% of the total channels were broadcast in MPEG-4, with an additional 5% broadcast in HEVC.