For the six months ended 30 June 2020, SES reported revenues of €947.5 million, down 1.5% as reported with underlying revenue 2.4% lower than at the end of H1 2019. Adjusted EBITDA was €582.0 million, falling back 2.3% as reported on a yearly basis and slipping 3.5% at constant currency exchange compared with H1 2019 and representing an adjusted EBITDA margin of 61.4% including a 2.2% year-on-year reduction in recurring operating expenses.
This said the company was a result of ‘right-sizing’ of capacity by customers in mature markets, and the decision to reduce exposure to low margin video services activities contributing to lower Services revenue. The latter dropped by 9.6%. Nevertheless, SES said utilisation rates across industry-leading European Video neighbourhoods remained strong.
Video now accounted for 59% of company business, down four percentage points compared with a year earlier. As of 30 June 2020, SES carried a total of 8,302 TV channels to viewers around the world including 2,948 channels in high definition and Ultra HD, up 2% year-on-year. Just over two-thirds of total TV channels are now broadcast by SES in MPEG-4 with an additional 4% in HEVC.
Spanish version: SES Astra difunde 8.302 canales de televisión en todo el mundo