Q1 2025 SES SA Earnings Call Transcript
Key Points
- SES SA (SGBAF) reported a solid start to 2025, with stable revenue year-on-year and strong operational execution.
- The company secured EUR360 million in renewals and new customer contracts, supporting a gross backlog of EUR4.5 billion.
- SES SA (SGBAF) is progressing well with the Intelsat acquisition, expected to close in the early part of the second half of 2025.
- The O3b mPOWER constellation deployment remains on track, with satellites 7 and 8 entering commercial operations in May 2025.
- The company continues to see strong growth in its Government and Mobility segments, with Government business up by more than 13% year-on-year.
- The Media business continued to decline by 10.6% year-on-year in Q1 2025, impacted by capacity optimization and SD channel switch-offs.
- Fixed Data business is down 2% year-on-year due to capacity constraints and competitive pressures.
- Adjusted free cash flow for Q1 2025 was negative EUR51 million, primarily due to front-loaded CapEx for satellite programs.
- The company faces challenges in balancing investment in new projects like IRIS² while maintaining cost efficiencies.
- There is uncertainty regarding the potential impact of US space budget cuts and regulatory changes on SES SA (SGBAF)'s operations.
Hello and welcome to the SES Q1 2025 results. My name is Laura, and I will be your coordinator for today's event. (Operator Instructions)
I will now hand you over to your host, Christian Kern, Head of Investor Relations, to begin today's conference. Thank you.
Thank you, Laura. Good morning, everyone, and thank you for joining us today. My name is Christian Kern, Head of Investor Relations. And it is my pleasure to welcome you to SES Q1 2025 results call on behalf of our management team.
Before proceeding with the management presentation, we would like to inform you that the financial information contained in this document has been prepared under international financial reporting standards. As usual, this presentation may contain announcements that constitute forward-looking statements, which are no guarantees for future business performance and involve risks as well as uncertainties.
Also, certain results may materially differ from those in these forward-looking statements due to
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
