SES H1 2023 Results

SES Betzdorf

Luxembourg, 3 August 2023 -- SES S.A. announces financial results for the six months ended 30 June 2023. 

Key Highlights:   
•    Revenue of €987 million (+9.8% YOY as reported) 
•    Double digit Mobility growth driving Networks (+3.1% YOY); Video -3.5% YOY with €350 million of contracts signed 
•    Adjusted EBITDA of €530 million (-2.7% YOY as reported) representing a margin of 54%
•    2023 financial outlook re-affirmed (Revenue: €1,950-2,000 million; Adjusted EBITDA: €1,010-1,050 million)
•    Launching a share buyback of up to €150 million 
•    4 O3b mPOWER satellites launched; next launch currently planned for Q3 2023 and commercial service start by end-2023
•    SES-17 & O3b mPOWER backlog now over $1 billion
•    C-band clearing completed and accelerated relocation payment ($3 billion pre-tax) expected in Q4 2023

Ruy Pinto, CEO of SES, commented: “The strong start to the year continued into Q2 resulting in a solid H1 financial performance and confirmation of the 2023 financial outlook. Networks is growing on the back of strong performance in Mobility and robust outturns in Government and Fixed Data. In Video, we have signed additional important renewals which underpin the long-term cash fundamentals and value of our direct-to-home neighbourhoods.

Today, we are announcing a share buyback programme which demonstrates our conviction in SES’s long-term fundamentals.

With O3b mPOWER expected to be in commercial service by the end of this year, customers will benefit from an expanded set of capabilities for flexible, guaranteed, and high-performance connectivity to meet requirements in competitive, high growth segments. 

In Government, the Luxembourg Parliament recently approved funding for an important, multi-year commitment to O3b mPOWER, while the group of SES and other European space and telecom players has been selected to develop a proposal for the European Commission’s future satellite constellation, IRIS2.  

Lastly, we are delighted to have cleared C-band ahead of schedule, after more than 3 years of hard work, and expect to receive the $3 billion (pre-tax) accelerated relocation payment in Q4 2023.”

Read the press release in full.

For further information please contact:

Richard Whiteing    
Investor Relations    
Tel: +352 710 725 261    
[email protected]     

Suzanne Ong
External Communications
Tel: +352 710 725 500
[email protected]

Presentation of Results

A presentation of the results for investors and analysts will be hosted at 9.30 CEST on 3 August 2023 and will be broadcast via  webcast  and conference call. The details for the conference call and webcast are as follows:

U.K.    +44 (0) 33 0551 0200 
France      +33 (0) 1 70 37 71 66 
Germany     +49 (0) 30 3001 90612 
U.S.A.      +1 786 697 3501

Confirmation code     SES

Webcast registration

The presentation is available for download from and a replay will be available shortly after the conclusion of the presentation.

About SES

SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world’s only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially-proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries  ~8,000 channels and has an unparalleled reach of 369 million households, delivering managed media services for both linear and non-linear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at:


This presentation does not, in any jurisdiction, including without limitation in the U.S., constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, or any investment advice in connection with, any securities of SES, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

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