Satellite operator SES’s Networks business surpassed 1 billion euros ($1.1 billion) in revenue during its six-month fiscal period ending June 2026, according to the operator’s latest financial results issued July 30.
Despite hitting this milestone, SES CEO Adel-Al Salah admitted that Q2 performance was “softer” than expected. He said this was due to some “slippage” in some contracts. However, SES maintained its full-year guidance and established expectations that business will ramp up in the second half. Overall, SES achieved revenues of 1.6 billion euros ($1.8 billion) in the six months to the end of June, a five percent decrease compared to the same stage on a like-for-like basis compared to last year.
In the first half of this year, SES did 1.2 billion euros ($1.4 billion) of new business and contract renewals. This contributed to a 6.4 billion euros ($7.3 billion) backlog. The company is set for a busy end of year with the O3b mPOWER satellites 11, 12 and 13 set to launch in the next quarter, which could add more mPOWER network capacity to its network.
Interestingly within Networks, the performance of government and defence was a particular standout. Here, revenues reached 381 million euros ($434.6 million) for the six months to the end of June. “In Government & Defense, demand for secure, resilient and mission-critical communications remains strong. This was demonstrated by the selection of SES Space & Defense to prime mission execution for the U.S. Space Force‘s Protected Tactical SATCOM-Global (PTSG) program, as well as our award under the U.S. Space Force SSC five-year Blanket Purchase Agreement (BPA) for managed Ku-band satellite services. These awards underline the trusted role SES plays in supporting the evolving communications requirements of government and defense customers globally,” Al-Salah added.
In other SES news, the company recently won a major new IFC contract with one of the biggest airlines in Latin America. It was selected by LATAM Airlines to provide multi-orbit inflight connectivity service to its growing fleet of Airbus and Embraer aircraft. More than 60 Airbus (A320NEO and A321XLR) and Embraer aircraft (E195-E2) will be equipped with SES services in the coming years. LATAM will be the largest airline in the region to offer service using SES’ new electronically steered array (ESA) antenna, which is less than seven centimeters tall and delivers reliable connectivity to the SES multi-orbit network. Connecting to satellites in different orbits provides consistent and reliable coverage no matter the location. SES announced this deal, July 29. To date, LATAM operates the largest SES connected fleet in the region, with over 250 aircraft equipped with Wi-Fi.
