SES Reports Solid Financial Results for FY 2024

SES S.A., headquartered in Luxembourg, disclosed its financial outcomes for 2024, showcasing a robust performance with revenues reaching €2,001 million, which is at the upper end of their outlook. The adjusted EBITDA was €1,028 million, surpassing expectations. Revenue from Networks grew by 2.9%, driven by strong performances in Government (6.4% increase) and Mobility (7.1% increase), while Media saw an anticipated decline of 5.3%.

SES's contract backlog reached €4.8 billion, with recent renewals contributing to this figure. The company's operational expenses, excluding cost of sales, decreased by 8.6% due to stringent cost management. Moreover, the adjusted Free Cash Flow was reported at €253 million, with a net leverage of 1.1x.

Looking forward, SES's outlook for 2025 indicates stable revenue and EBITDA. The firm plans to finalize the acquisition of Intelsat by the second half of 2025, aiming to enhance shareholder value and financial flexibility.