SES : Positive tone on the C-band ahead of the deadline end-May
>Q1 2020 earnings in line on sales, ahead on EBITDA - SES reported Q1 revenues of € 479m, down 1.9% y/y cc. and broadly in line with expectations (consensus € 477m), with EBITDA of € 285m, above expectations (consensus € 280m) and a margin of 59.4% (consensus 58.7%), down 100bp y-o-y. SES has explicitly stated that its activity in Q1 was not impacted by the health crisis. In detail (see table on page 2), the group generated lower-than-expected revenues in video, down ...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.
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.
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