SGBAF - SES S.A. GAAP EPS of Euro0.20 revenue of Euro501M; reaffirms FY22 outlook

November, 03 2022 02:46 AM Ses Global Sa Fid Dep Shs

SES S.A. press release ( OTCPK:SGBAF ): Q3 GAAP EPS of €0.20.
Revenue of €501M (+12.8% Y/Y).
Leverage at 4x due to DRS GES acquisition and growth investment; expected to reduce to around 3.5x by end-2022.
At 30 September 2022, SES delivers around 8,000 total TV channels to 366 million TV homes around the world, including around 3,100 High Definition TV channels. 73% of total TV channels are broadcast in MPEG-4 with an additional 6% broadcast in HEVC.
Contract backlog at 30 September 2022 was €5.1B (€6.4B gross backlog including backlog with contractual break clauses), including DRS GES contract backlog of €0.1B (€0.8B gross backlog).
2022 group revenue and Adjusted EBITDA outlook is unchanged and expected to be between €1,750-1,810 million and between €1,030-1,070 million respectively. This excludes the acquisition of DRS GES which is expected to contribute an additional $85-90 million to group revenue for the period 1 August 2022 to 31 December 2022.
Capital expenditure is also unchanged and expected to be €950 million in 2022 with an average of €460 million for 2023-2026.

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