Luxembourg, 6 November 2025 — SES S.A. fully consolidates Intelsat from 17 July 2025 and announces financial results for the nine months and three months ended 30 September 2025 with solid operational and financial performance.
Solid 9 months 2025 financial performance on a reported basis (Intelsat fully consolidated from 17 July 2025)
• Revenue of €1,747 million (+19.8% yoy) and Adjusted EBITDA of €849 million (+11.0% yoy)
• Networks (+36.3% yoy) supported by growth in Aviation and Government; Media (+0.7% yoy) with important new long-term renewals signed
• Solid progress with company integration and synergy execution since Day 1 of transaction closure
• €1.4 billion of new business and contract renewals signed YTD 2025 – with a total combined gross backlog of €7.1 billion
• O3b mPOWER satellites 9 &10 successfully launched on 22 July, expected to be in service beginning 2026 – boosting O3b mPOWER network capacity and resilience
• Collected c.$87 million regarding insurance claim for O3b mPOWER satellites 1-4 with additional settlements expected
• Combined like-for-like net leverage at 3.7 times (including cash & cash equivalents of €965 million)
• Interim 2025 dividend of €104 million(€0.25 per A-share; €0.10 per B-share) paid on 16 October 2025; a final 2025 dividend (subject to shareholder approval) of at least €0.25 per A-share (€0.10 per B-share) to be paid in April 2026
• FY25 combined company financial outlook on a reported basis: Revenue expected to be in the range of €2.60-2.70 billion and Adjusted EBITDA to be in the range of €1.17-1.21 billion – well on track with solid 9 months financial results; CapEx reduced, now expected to be in the range of €0.6 to 0.7 billion
Adel Al-Saleh, CEO of SES, commented: “I am pleased to report our solid 9 months 2025 results which include the first quarter for the combined company following the successful close of the Intelsat acquisition on 17 July 2025. The results reflect continued operational strength and demonstrate continued delivery on the strategic execution of the newly combined and expanded SES.
The new SES is now a truly global multi-orbit operator with greater scale built for the future, positioning us for long-term growth, strong financial performance, and a more resilient business. We are excited about our potential to shape the future of space solutions and global connectivity. From Day 1, we have made significant progress with the integration of the two companies. We have begun to realise synergies across the business, and we expect to deliver on our synergy plan. We are confident in our ability to convert those operational gains into sustained Adjusted FCF and long-term shareholder value.
The unjustified share price fall after results looks like a buying opportunity to me, so… 2,000 more shares please!
The total shareholding for my better half and I now stands at 55,760 shares with an average price €5.16.
https://www.reddit.com/r/SES_Satellites/comments/1optm8c/the_unjustified_share_price_fall_after_results/