SES’ Networks segment enjoyed growth of 6.1% in 2023 as Video went in the opposite direction.
The segment, which includes services to cruise lines and governments, recorded €1,062 million in revenue, just over half of the satellite operator’s €2,030 million income.
Video revenues fell by 4.4% year-on-year to €967 million after lower revenues from Europe and North America. However, other international markets remain stable and there is growth within the Sports & Events business.
Adjusted EBITDA stood at €1,025 million.
Newly appointed CEO Adel Al-Saleh said: “It’s an exciting time to be joining SES and an honour to lead this established, world-class operator on the next phase of the journey. The 2023 results demonstrate the strong fundamentals of our business and attraction of our multi-orbit offering to a customer base of world-leading organisations, governments, and institutions.”