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4d ago

SES Finalizes Intelsat Acquisition, Beats Q2 Revenue Estimates

Buoyed by surging government orders, SES installs Intelsat veteran David Broadbent to oversee its expanded defense business

Satellite model is placed on SES logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

Overview

  • SES closed its $3.1 billion acquisition of Intelsat on July 31, combining their geostationary satellite networks under one operator.
  • In the second quarter, SES posted €469 million in revenue and €241 million in adjusted EBITDA, both surpassing analyst forecasts.
  • The company reaffirmed its full-year guidance and projected €1.8 billion in annual operating profit for the merged entity.
  • SES secured €690 million in new government contracts in the first half of 2025 and ended the period with a €4.2 billion defense-focused backlog.
  • The strengthened scale and government pipeline are designed to help SES rival LEO operators such as SpaceX’s Starlink and Amazon’s Project Kuiper.