Report
Stephane Beyazian

SES : Une guidance 2028 formidable face à une réalité 2024-2025 peu attractive

>Ajustement à la baisse des prévisions : détérioration des tendances - Le T2 2024 a montré une détérioration des tendances dans la plupart des métiers, à l’exception des services aux gouvernements (CA +10%). Nous ajustons nos prévisions à la baisse : L’introduction de changements comptables et l’activation de nouveaux satellites augmentent les dépréciations et amortissements de ~100 M€.Video : SES suggère désormais un risque de recul jusqu’à 10% du CA en 202...
Underlying
SES SA FDR (Class A)

SES is engaged as a provider of satellite-delivered services. As a strategic management company, Co. operates through a unique network of leading satellite operators around the world. This network comprises the fully-owned SES ASTRA in Europe and SES AMERICOM in the U.S., as well as participations in regional satellite operators. SES ASTRA is European direct-to-home satellite operator. SES AMERICOM operates a fleet of 17 satellites serving the Americas, Europe and the Asia-Pacific region. AsiaSat provides transponder capacity for broadcast, broadband and telecommunications services in the Asia-Pacific region.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Beyazian

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