SES Continues to Report Decrease in Revenues
SES revealed its financial results for the nine months ended Sept. 30 2019, in which revenue fell 3.9 percent compared to the same period last year. EBITDA was reported at approximately $985.5 (889.6 million euros) Year to Date (YTD) 2019, compared to approximately $1 billion (927.7 euros) YTD 2018.
SES Video revenues fell 8.1 percent while SES Networks grew 5.1 percent. Notably, the Mobility segment within SES Networks’ business grew 14.6 percent. SES’ Video business makes up 62 percent of the company’s total business compared to 63 percent in its first half 2019 results, but this decrease in business size isn’t substantial enough to offset the loss in revenue.
“For the seventh consecutive quarter, our results are in line with our expectations and with the outlook that we have given to the market, reflecting our on-going focus on execution in the core of our business. As expected, we are seeing revenue and EBITDA expansion flowing through in the second half of 2019 with strong control over costs and discretionary spending and the continued rationalization and simplification of our business and organisation. Execution remains the focus for the rest of the year as we look to close out 2019 with a strong Q4 outturn, much as we did in 2018 and implied in our financial outlook which remains unchanged.