SES has published its Q1 2025 results, reporting that it signed €360 million in new business during the quarter. The two highlights were the satellite operator’s Networks division which saw revenue grow 8.4 per cent YoY and its Government segment improve 13.1 per cent.

The once important Media division, which looks after its DTH transmissions, continued to see declining numbers (down 10.6 per cent). Media revenue (now 40 per cent of total revenue vs 46 per cent in Q1 2024) of €206 million reduced 10.6 per cent year-on-year, on the back of lower revenue in mature markets due to capacity optimisation and the impact of SD channel switch-offs as well as the Brazilian customer bankruptcy (Oi).

Its latest two O3b mPOWER satellites (7 & 8) have reached final orbital position – boosting mPower network capacity and resilience from May.

SES confirmed its financial guidance for the rest of the year and that it was fully funded as far as the Intelsat acquisition was concerned which it anticipated completing in H2 2025. SES’s intention is to optimise the combined debt structure.

Adel Al-Saleh, CEO of SES, commented: “We delivered good Q1 performance which continues to underscore that our evolved strategy is yielding positive operational and financial results, leading to a solid start to the year. We continue to deliver commercial momentum across the business reaffirming our FY 2025 financial outlook.”

“On the back of a strong performance, the Networks business now accounts for approximately 60 per cent of revenues and delivered year-on-year growth led by government and mobility. This highlights our robust position in target segments with a differentiated multi-orbit offering. We have secured €360 million in new business and contract renewals to support future growth including an enhanced pipeline of Government opportunities, significant wins by our Open Orbits partners in aero, such as Uzbekistan Airways and extended cooperation with Thai Airways, and recent wins in Media with Mileto in Brazil and the Association of Tennis Professionals (ATP) globally. In Media we have delivered to expectations,” he added.

SES says it is continuing to engage with insurers regarding the insurance claim relating to O3b mPOWER satellites 1-4. Thid April, SES has closed some initial settlements with a small number of insurers, resulting in initial settlement payments of c.$58 million so far, with further settlements expected to follow.

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Categories: Articles, Broadband, Broadcast, Business, DTH/Satellite, Results, Satellite, Services

Tags: mPower, satellite, SES