SES Global reported revenues of 329 million euros ($418.8 million) in the first quarter of 2006, up 13 percent from revenues of 290 million euros ($369.2 million) in the first quarter of 2005, the company announced May 8. Profit jumped 41 percent, from 84 million euros ($106.9 million) in the first three months of 2005 to 118 million euros ($150.2 million) in the first quarter of 2006, which ended March 31.

SES Global credited the revenue improvements to organic growth and a favorable exchange rate for the U.S. dollar. Earnings growth was due to stronger operating results and an 18.8 million euros ($23.7 million) gain on the disposal of a reinsurance subsidiary.

“The first quarter results are a reflection of solid development across the board, in Europe, in the [United States] and also in Africa,” Romain Bausch, president & CEO of SES Global, said in a statement. “The high utilization rates in key markets further validate our strategy and additional growth opportunities arise from this strong momentum.”

Utilization rates stood at 81 percent in the Europe, Middle East and Africa region, with 284 commercially available transponders in use. Europe stood at 89 percent, with 217 of 243 transponders in use, and 68 percent in the Americas, as 339 of 501 available transponders were in use, SES Global reported.

SES Global completed its acquisition of New Skies Satellites March 30, which was the driver behind a growth in net debt to 2.8 billion euros at the end of the 2006 first quarter, up from 2.1 billion euros Dec. 31.