Revenue for SES Global grew nearly 10 percent to 609.2 million euros ($752.6 million) in the first half of 2005, compared to revenue of 555.3 million euros ($686 million) in the first half of 2004, the company announced.
SES Global recorded a profit of 168.5 million euros ($208.2 million) in the first six months of 2005, down from a profit of 220.7 million euros ($272.7 million) in the first half of 2004, which included a one-time tax benefit of 59.9 million euros ($74 million).
SES Global now forecasts it will achieve double-digit annual revenue growth through 2007 and also announced it will begin limited self-insurance of its on-orbit satellite fleet, insuring the first 20 percent of value, capped at 30 million euros ($37.1 million) per spacecraft. Satellite launches, the highest risk part of the business, will continue to be fully insured by third parties, SES Global said.
