SES SA (LUX:SESGL)

Q3 2025 SES SA Earnings Call Transcript

Nov 6, 2025 / 01:00 PM GMT

Release Date Price: €5.4 (-20.24%)

Transcript

Key Points

Positve

SES SA (SGBAF) successfully completed a transformational merger with Intelsat, creating a global multi-orbit connectivity powerhouse.
The company reported a 19.8% year-on-year increase in revenue for the first nine months of 2025, reaching approximately €1.75 billion.
SES SA (SGBAF) secured €1.4 billion in renewals and new customer contracts, supporting a gross backlog of €7.1 billion.
The integration of SES and Intelsat is progressing well, with synergies expected to deliver a total net present value of €2.4 billion.
The aviation segment showed strong growth, with a 112% year-on-year increase in revenue, driven by the adoption of multi-orbit ESA antennas.

Negative

The company faced a 1.8% decline in like-for-like revenue year-on-year, with adjusted EBITDA down by 10% due to various headwinds.
SES SA (SGBAF) experienced timing delays in government contracts, particularly in the US, affecting revenue recognition.
The media segment continues to face structural declines, exacerbated by the bankruptcy of a Brazilian customer.
The fixed data business remains challenged by competitive pressures, impacting overall revenue growth.
The IS 33E satellite failure led to increased reliance on third-party capacity, affecting profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SESFd.PA - SES SA
Q3 2025 SES SA Earnings Call
Nov 06, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, welcome to the SES 9 months and 3rd quarter 2025 results conference call. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answer session, participants are able to ask questions by dialing 5 on their telephone keypad. Now, I will hand over the conference to Christian Kern, head of Investor relations. Please, go ahead.

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Unidentified_2 [2]
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Thank you, Gaya. Good morning, everyone, and thank you for joining us today. It is my pleasure to welcome you to SES Q3 2025 results call on behalf of our

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