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SES Q1 Operating Profit Up 6.7% - Revenue Up 4.2%


Luxembourg, - SES S.A. (Euronext Paris and Luxembourg Stock Exchange: SESG) reports financial results for the three months to 31 March 2011.


*Revenue of EUR 428.4 million (+4.2 %)
*Recurring[1] revenue grew 3.1% to EUR 428.4 million

*EBITDA of EUR 321.5 million (+3.5%)
*Recurring EBITDA grew 3.0% to EUR 323.8 million
*Recurring EBITDA margin of 75.6%

*Operating profit of EUR 206.3 million (+6.7%)

*Profit of the group of EUR 149.4 million (+40.1%)

*Earnings per A-share rose 40.7% to EUR 0.38 (2010: EUR 0.27)

*Closing net debt / EBITDA of 2.80 times

Romain Bausch, President and CEO, commented:

"SES’ financial results are on track, reflecting business developments in the first quarter. A number of contracts were signed for new Direct-To-Home (DTH) and broadband services in Europe, and the development of HD programming in Germany was given a boost as the German public broadcasters committed to five transponders to follow the termination of analogue broadcasting in April 2012. New capacity agreements for broadcast and broadband services in Central and Latin America were signed, and additional capacity was contracted for global maritime services. Following the commercialisation of all available DTH capacity for India, we have ordered a new satellite, SES-8, to provide additional capacity for that fast-growing market.

SES has reorganised its activities under a streamlined management structure, which will optimise the execution of our growth strategy. The new structure will deliver operational efficiencies and revenue, cost and EBITDA synergies, enhancing our future growth"

[1] “Recurring” represents underlying revenue / EBITDA performance by removing currency exchange effects and eliminating one-time items.


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