Highlights…
- Revenue of EUR 450.2 million (+5.1 percent)—Revenue at constant foreign exchange (“FX”) grew by 3.5 percent
- EBITDA of EUR 337.3 million (+4.9 percent)—EBITDA at constant FX grew by 3.4 percent—EBITDA margin of 74.9 percent
- Profit of the Group of EUR 151.2 million (+1.2 percent)
- Net debt / EBITDA ratio of 3.01 times
- Contract backlog EUR 6,831 million, an increase from EUR 6,591 million in Q1 2011
Romain Bausch, President and CEO, said, “The first quarter’s results are in line with our expectations and we look forward to making further progress through the rest of the year. During the quarter, SES successfully launched the SES-4 satellite, the 50th satellite in the fleet. Brought into service in mid-April, the satellite—which is the largest and most powerful in the fleet—will activate up to 124 transponders in the Atlantic Ocean region, serving the Americas as well as the EMEA region, and representing a significant growth driver for the group. Satellite infrastructure has continued to develop well in the key European DTH (Direct-To-Home) TV markets, as shown by the 2011 Satellite Monitor survey published in March. A major milestone was passed as satellite’s market reach grew beyond that of cable and of terrestrial reception, clear evidence of the market’s preference for satellite. HDTV is driving this positive development, with a number of capacity agreements having been signed, notably in Germany following the analogue switch-off at the end of April. Significant capacity agreements were also concluded in Latin America, the UK and the Middle East. We are proud to have been chosen to support the BBC and BSkyB’s coverage of the London Olympic Games with 48 channels in HD and SD, covering all the major events throughout the Games.”
To read the entire financial report, select this direct report web page link.
