SES has launched a share program of up to €150 million following positive first half results.
Under the scheme, the satellite operator will purchase up to 20 million A-shares and up to 10 million B-shares in equal proportion to maintain the required ratio of two A-shares to one B-share, as specified in the Articles of Association. The shares acquired under the program are intended to be cancelled, reducing the total number of voting and economic shares.
Ruy Pinto, the company’s newly appointed CEO, said the buyback “demonstrates our conviction in SES’s long-term fundamentals”.
Video revenue amounted to €486 million, representing a reduction of 5.2% compared to H1 2022, though “additional important renewals” were signed in the quarter for some of the operators satellite neighbourhoods.
The Networks segment showed growth, driven by strong performance in Mobility and robust outcomes in Government and Fixed Data.
In addition SES, along with other European space and telecom players, has been chosen to develop a proposal for the European Commission’s future satellite constellation, IRIS2.