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SES maintains outlook after weaker first half
July 29, 2016 / 6:01 AM / a year ago

SES maintains outlook after weaker first half

BRUSSELS, July 29 (Reuters) - Satellite operator SES maintained its full-year forecast after a decline from data and government sources in the first half outweighed higher income from broadcast television and in-flight connectivity.

SES, which broadcasts almost 7,500 television channels from 53 satellites, said on Friday it still expected revenue of between 2.01 and 2.05 billion euros ($2.23-2.27 billion) for 2016 and a core profit (EBITDA) margin of 73.5 to 74 percent.

That compares with revenue growth of 5 percent last year to 2.015 billion euros, which was down 3.2 percent on a constant currency basis, and an EBITDA margin of 74.2 percent.

SES, which sells transmission capacity to firms such as BSkyB, Echostar and India’s Dish TV, said first-half revenue fell 4.8 percent on a constant currency basis to 957 million euros and core profit (EBITDA) by 5.8 percent to 700 million euros.

The results were in line with compared the company-compiled consensus of 957 million euros and 703 million respectively ($1 = 0.9023 euros) (Reporting By Philip Blenkinsop)

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