Home >> News: October 26th, 2009 >> Story
Satnews Daily
October 26th, 2009

Financially Speaking... SES S.A...


SES logo SES is report the Company's third quarter revenue rose 2.4 percent (versus prior) to 416.3 million euros, while a continued focus on cost control, coupled with the achievement of targeted efficiencies arising from the SES AMERICOM-NEW SKIES combination, contributed to the 4.0 percent rise in reported EBITDA to 294.1 million euros. The group EBITDA margin for the quarter was 70.6 percent, with an infrastructure EBITDA margin of 82.0 percent. Operating profit remained flat at 177.6 million euros, compared to the prior year period. The favorability versus prior year, driven by the rise in EBITDA, was partly diluted by the additional depreciation on new satellites and the accelerated depreciation on AMC-4. Net financing charges were lower than in the prior year period, mainly reflecting lower interest rates on a marginally increased average debt level and foreign exchange gains. Profit of the group, at 118.8 million euros, was ahead of the prior year period by 15.3 percent driven by the reduced net financing charges. Net debt at the period end was 3,642.0 million euros, delivering a Net Debt / EBITDA ratio of 3.12 times, well under the self-imposed limit of 3.3 times. To read the entire financial report, access this direct link.