SES (Euronext Paris and Luxembourg Stock Exchange: SESG) announced that, following a significant anomaly, the company is in the process of transferring capacity from their AMC-9 satellite.
The incident was noted on the morning of Saturday, June 17, 2017. SES has taken immediate action in contacting all customers and is working to transfer services to alternative satellite capacity in order to minimize disruption. AMC-9 provided Ku- and C-band coverage over the U.S. and Mexico. The satellite was manufactured by Alcatel/Thales and was launched in 2003.
SES is working closely with the manufacturer to establish the cause of the anomaly and is evaluating all satellite recovery options. The full impact of the anomaly is still being assessed. In the event that the spacecraft cannot be recovered, the potential impact on SES’s full year 2017 group revenue could be up to EUR 20 million. In this event, it would also be expected to result in a one-off impairment charge of 38 million euros.