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It may well be that the hoped-for acquisition of Spacecom by SES may not come to fruition. The Israeli satellite operator turned down an SES deal of $350M/USD to purchase the company — hopes for additional conversations are somewhat minimal. Spacecom believed the offer was undervalued and the business plan not in accord with their future considerations. According to Romain Bausch, the CEO of SES, the company is keeping an eye open for small satellite operators running one to three satellites for inclusion in their operations. No details were given regarding any potential companies.
As far as the general financial health of the company, far better news… the recurring revenue of 1,597.1M/euro was up 8.5 percent over the prior year, with reported revenues sliding in at 1,610.7M/euro. The net operating cash flow for SES improved to 1,192.7M/euro over the 1,060.1M/euro, which brought in the average weighted Earnings per share rising 11 percent to 0.91 euro. The company applied 1.4B/euro to a share buyback program, as well. Major highlights for the firm included a GE split-off transaction that streamlined the firm’s asset portfolio and removed major share overhang plus their Canal+ agreement secured future development of the French DTH market on the ASTRA satellite. There was also strong growth in SES NEW SKIES, which was +20 percent on like-for-like basis. When it comes to fleet utilization, 802 of the 1.048 commercially available transponders are committed and there’s a fully protected contract backlog of 5,846.4M/euro—Luxembourg
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