Equities

SES Announces Better Than Expected Q1 2023 Earnings

By Jessica Lis
Share
Image: SES

SES, a satellite telecommunications network provider from Luxembourg, reported Q1 financial results above market expectations on Thursday. 

Overall financials:

  • Revenue = €490M ($540M), a 9.6% increase YoY
  • Adjusted EBITDA = €265M ($292M), a 3.2% decrease YoY
  • Cash & cash equivalents = -€1.1B (-$1.2B)
  • SES-17 & O3b mPOWER backlog = $1B 

SES’s next system: The company expects to begin commercial service in Q3 of its O3b mPOWER system, a communication satellite network that will serve customers such as Microsoft and Orange. SES launched two O3b mPOWER satellites this quarter, with the fifth and sixth satellites planned to launch in June. 

Looking ahead: Officials didn’t provide any updates on the possible merger with Intelsat, but CEO Steve Collar echoed his positive views about consolidation in the industry. 

Share

Upcoming Events

live event

Payload Space Happy Hour

850 S Sepulveda Blvd, El Segundo, CA 90245
13 Feb
live event

Payload Space Happy Hour

33 Pearl St SW Washington, DC
12 Mar
live event

Polaris After Dark

555 13th St NW Washington DC
21 Apr
live event

Payload Space Happy Hour

850 S Sepulveda Blvd, El Segundo, CA 90245
1 May
live event

Payload Space Happy Hour

850 South Sepulveda Boulevard, El Segundo CA, 90245
21 Aug
live event

Payload Space Happy Hour

850 South Sepulveda Boulevard, El Segundo CA, 90245
2 Oct
Return Home
Related Stories
Equities • Satcom

AST SpaceMobile Announces $400M Convertible Notes Raise

AST SpaceMobile is raising $400M through convertible notes to continue building out its BlueBird constellation, the company announced on Wednesday.

Equities • VC/PE

Spaceium Closes $6.3M Seed Round

Spaceium, an in-orbit refueling service, raised a $6.3M seed round led by Initialized Capital with participation from 15 additional VC firms and angel investors. The Y-Combinator-backed startup plans to use the funding to demonstrate its refueling technology in orbit and expand its team. “Fuel for spacecraft is a massive bottleneck in the industry,” Spaceium CEO […]

EO • Equities • VC/PE

Synspective Goes Public on Tokyo Stock Exchange

The SAR data collector has plans for a thirty satellite constellation.

Business • Equities

Space Markets: The Year in Review

Space markets surged this year, fueled by robust VC investments in private markets and back-in-vogue space SPACs in the public markets. The good year for space investments is part of a broader bull market, where the prospects of a soft landing have sent speculative stocks soaring.