[SatNews] SES S.A. (NYSE Euronext Paris and Luxembourg Stock Exchange: SESG) has reported their financial results for the three months ended March 31, 2013. The highlights include….
- Revenue of EUR 440.8 million (-2.1 percent)
- Revenue at constant FX grew by 5.7 percent, excluding German analogue impact
- EBITDA of EUR 321.2 million (-4.8 percent)
- EBITDA at constant FX grew by 5.5 percent, excluding German analog impact
- EBITDA margin of 72.9 percent (Q1 2012: 74.9 percent) Infrastructure EBITDA margin stable at 83.7 percent (Q1 2012: 83.8 percent)
- Profit of the Group of EUR 141.5 million (Q1 2012: EUR 151.2 million)
- Inaugural USD 1 billion bond issue
- Net debt / EBITDA ratio of 2.94 times
Romain Bausch, President and CEO, said, “The impact of the German analogue switch-off at the end of April 2012 was, as expected, the major factor influencing the comparison with the prior year period. Excluding this, revenue and EBITDA grew strongly and the EBITDA margin remained stable. New capacity contracts and a good performance from HD+ made a solid contribution to revenue and EBITDA. The EBITDA margin on infrastructure, the core of our business, was robust at 83.7 percent.
“At the end of the quarter, SES launched an inaugural US dollar bond issue, a transaction which was very well received in the market. This issue extends our funding resources to include the deepest capital market in the world and represents further improvement in our financing flexibility, maturity and cost.
“The Q1 results support the reiteration of our 2013 revenue and EBITDA growth guidance of 4 – 5 percent. SES continues to focus on commercialising the new capacity that was launched during 2012 and on preparing the successful entry into service of the four satellites scheduled for launch in 2013.”
To read the entire financial report, access this direct web page link.
