Resilient Networks performance and reduction in operating expenses have contributed to a good financial year for SES. While value creation through growth investments and C-band execution have also played their part. One of those investments has resulted in the successful launch of communications satellite SES-17, on 24 October 2021.
The company’s adjusted net profit improved by 17.2% year-on-year to €225m. Lower depreciation and amortization expenses (down by 7.3%) and a reduction in the net increased expense (down by 21%) have contributed to that.
“Our Networks business is continuing to perform well against the backdrop of an extended COVID environment with strong year-on-year growth in Government now complemented by growing quarterly run rate revenue in Fixed Data and Mobility, where we are starting to see a recovery in cruise and new bandwidth demand from our aeronautical customers,” said SES CEO, Steve Collar.
Video represents 60% of SES’s revenue according to the released data. As of 30 September 2021, SES delivers 8,555 TV channels to 361 million homes around the world. The number of High-Definition channels has grown by 8% since last year, reaching 3,150. International market revenue has also increased while revenue from sports & events is continuing to recover after experiencing a dip during the pandemic.
Networks represent 40% of the satellite company’s revenue with a positive contribution from MEO- and GEO-enabled network solutions for the US Government resulting in an overall strong year-on-year growth in revenue.