Bryan Garnier - SES (SESG) SES estimates update post FY2022 results

Report

Bryan Garnier

Antoine Lebourgeois ...

Thomas Coudry

SES estimates update post FY2022 results

PT downgraded to EUR6.30 vs EUR6.70 previously following our estimates revision, which notably takes into account new O3b mPOWER delays and lower than previously expected DRS revenues. Neutral recommendation unchanged.

21/03/2023 1 EN

Underlying

SES

See profile

Luxembourg

Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

See profile

Analysts

Antoine Lebourgeois

Thomas Coudry

Other Reports on these Companies

Bryan Garnier

SES: a strong Q4 in line with last week's trading update

Q4 results exceeded css on both revenue (+2% vs. css) and margin (+460bps vs. css), although this was largely anticipated following last week’s trading update. In our view, the strong operational performance was driven primarily by stronger-than-expected Networks and disciplined cost control, with

15h / 23m 15h / 23m 1 EN

Bryan Garnier

SES: defying Moody’s downgrade with a FY24 pre-release

SES issued a market update ahead of its FY24 results on 26th February 2025. The update follows Moody’s downgrade of SES’s outlook from stable to negative, with its credit rating remaining just one notch above non-investment grade. SES now expects adj. EBITDA to exceed the guidance range (EUR950–1,0

February 19, 2025 February 19, 2025 1 EN

Bryan Garnier

€10.6bn Iris² contract signed: a challenging deal for SES and Eutelsat

The contract for Iris², the European sovereign constellation, was signed yesterday. While widely expected, the announcement offered more clarity on the project’s financial and technical framework. European operators will invest a combined EUR4bn, with SES contributing up to EUR1.8bn and leading the

December 17, 2024 December 17, 2024 1 EN

Nel: FY24 results, poor visibility FY25

NEL has reported FY24 revenues below consensus expectations at NOK1.39bn (+3% YoY, -3% vs cons. at NOK1.43bn), but a slightly better than expected EBITDA loss of -NOK173m (+9% vs cons. at -NOK191m), vs -NOK272m in FY23. Q4 dynamics followed a fairly similar pace to previous quarters, supported by a

15h / 9m 15h / 9m 1 EN

Antoine Lebourgeois

Antoine Lebourgeois

SES: a strong Q4 in line with last week's trading update

15h / 23m 15h / 23m 1 EN

Oscar Haffen Lamm

Oscar Haffen Lamm

Medincell: Uzedy's sNDA for label extension into BP-I accepted by the FDA

Teva announced yesterday the sNDA for Uzedy for the maintenance treatment of Bipolar I Disorder (BP-I) in adults has been accepted for filing by the FDA, which if approved would add approx. a 310k addressable patient pool, represented by the same prescribers as in Schizophrenia. As a benchmark, Abl

15h / 38m 15h / 38m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

SES estimates update post FY2022 results

SES: a strong Q4 in line with last week's trading update

SES: defying Moody’s downgrade with a FY24 pre-release

€10.6bn Iris² contract signed: a challenging deal for SES and Eutelsat

Nel: FY24 results, poor visibility FY25

SES: a strong Q4 in line with last week's trading update

Medincell: Uzedy's sNDA for label extension into BP-I accepted by the FDA

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe