Like its French peer Eutelsat<\/a>, SES' revenue has declined due to falling demand for traditional video. To cushion the blow, the companies have focused on data delivery through satellites.
SES said it estimated adjusted earnings before interest, tax, depreciation and amortization (EBITDA) in 2022 at 1.03 billion-1.07 billion euros ($1.16 billion-$1.20 billion) against 1.09 billion reported for the full year 2021 as it sees a mid-single digit decline in the video unit.
The unit reported a 4.6% year-on-year decline in revenue in 2021 and the company cited lower wholesale sales in the United States and its decision to cut exposure to low margin services.
\"The company has a very limited exposure to Russia and Ukraine,\" Chief Executive Steve Collar said on a call with journalists when asked about the ongoing crisis.
Sales in SES' network business, which delivers satellite services to government institutions and cruise lines, were flat in the year. The growth in the government revenue was offset by lower sales in the mobility segment as the impact from COVI-19 continues, the company said.
Last week, Eutelsat trimmed its full-year guidance on revenue and pushed back its financial targets, citing delays in the resale of capacity.
SES proposed a dividend of 0.50 euro per share for full-year 2021, up from 0.40 paid for 2020.
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