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Luxembourg-based satellite operator SES (SESFg.LU) on Tuesday reported first-quarter results in line with market expectations and reiterated its yearly guidance, as it flagged strong momentum in its aviation and European infrastructure businesses.
Revenue was 847 million euros ($996 million) in the quarter, up 80% year-on-year at constant currency. The company signed 306 million euros worth of new business and contract renewals over the three-month period.
The aviation business was a standout performer, CEO Adel Al-Saleh said in a statement, with commitments secured for more than 40 long-haul aircraft for Japan Airlines (9201.T).
SES and Boeing (BA.N) also reached a milestone toward a factory line-fit solution for the multi-orbit system across all Boeing aircraft models, he said.
"During the quarter, our Aviation business benefitted from nearly 600 aircraft now flying with the SES multi-orbit inflight connectivity system, delivering fast, dependable internet access to millions of passengers," Al-Saleh said.
On the European infrastructure front, SES and the European Union Agency for the Space Programme extended the EGNOS GEO-1 satellite service agreement through 2030, helping maintain high-precision navigation services for aviation and other critical users across Europe.
SES also continues to progress through orders for the IRIS² programme, working closely with the European Commission to validate project cost, technical requirements and delivery timelines.
The company said it remained committed to the European Union's vision for a sovereign space-based connectivity infrastructure.
($1 = 0.8508 euros)
