Economy & Politics

SES forced to review its 2020 trajectory

Compared to last year’s figures, the net profit of the Luxembourg satellite operator of halved in the first half of the year. A reality which forces the company of Betzdorg to revise, downwards, its ambitions of turnover. Rather in the 1.8 billion euros.

Patrick JACQUEMOT

Patrick JACQUEMOT

Compared to last year’s figures, the net profit of the Luxembourg satellite operator of halved in the first half of the year. A reality which forces the company of Betzdorg to revise, downwards, its ambitions of turnover. Rather in the 1.8 billion euros.

Yes, covid-19 also impacts satellite operators. The proof with SES which saw its half-year net profit decreased by 49% compared to 2019 figures. A decrease mainly due to the decrease in adjusted turnover excluding tax (-2.3%) and to additional tax charges by report to the first half of last year. Nothing very positive therefore at a time when the Betzdorf company has just finalized a job retention plan unprecedented in its history.

On the other hand, the operator’s revenues fell by 1.5%, solely due to a decline in video activity, the group’s largest sector, but also the most competitive for years.


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“The business performed well in the first half of the year with strong sales in challenging market conditions, with the benefits of our proactive cost reduction measures to offset the potential impact of covid-19 also reflected in our results” , says Steve Collar, CEO of the group.

In detail, the video business (accounting for nearly 60% of sales), fell 8.1% in the first six months. The activities of the network branch, on the other hand, continued to grow during the period (+ 6.4%), with an increase in both fixed network and mobility, a sector little affected by the drop in traffic. airline and which is one of the main customers in this field. It was only in the case of government services that recorded a slight decrease (-2.2%).

Steve Collar estimates that, for SES, the costs related to the pandemic amount to 40 to 60 million euros.

Steve Collar estimates that, for SES, the costs related to the pandemic amount to 40 to 60 million euros.

Photo: Lex Kleren

In terms of its forecasts, the group has therefore revised – slightly – its objectives downwards. From now on, Steve Collar rather envisages a turnover of between 1.86 and 1.9 billion euros (against 1.92 to two billion euros originally).

Turnover excluding tax is also readjusted. Estimates for the end of fiscal year 2020 amount to between 1.12 and 1.16 billion euros when the most optimistic range was 1.21 billion euros.


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