(AOF) – For the 2022 financial year, the satellite operator SES published results that exceeded its forecasts and were in line with analysts’ estimates. Over the period, net income, Group share amounted to 189 million euros, down 41.5% compared to 2021. Adjusted EBITDA improved by 1.3% on a reported basis, to 1. 11 billion euros. The adjusted Ebitda margin rate stood at 56.9% last year, compared to 61.2% in 2021. SES was targeting adjusted Ebitda for 2022 of between 1.03 billion and 1.07 billion euros.
Turnover increased by 9.1% in published data, to 1.94 billion euros, the Luxembourg company forecasting a turnover between 1.75 billion and 1.81 billion euros.
For the current financial year, the managers anticipate a turnover of between 1.95 billion and 2 billion euros and an adjusted Ebitda of between 1.01 billion and 1.05 billion euros in 2023.
SES will propose at its general meeting on April 6 the payment of a dividend of 0.50 euros per share for 2022.
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End of the price drop
Thanks to the price war, French consumers have benefited from internet prices that are among the lowest in Europe. But gradually, subscription prices are increasing. According to the telecoms authority (Arcep), in 2021 they increased by 3.1% for mobile and 5.1% for fixed. If the current inflationary context can explain this rise in prices, it is not the only reason. All players are indeed seeking to restore their margins. They have already succeeded in outsourcing part of their capital expenditure related to the deployment of their fiber and mobile infrastructures (4G and 5G). Now they have to increase their income. This is an important issue in order to benefit from the development of their performance. Generating a satisfactory level of available cash (free cash flow) also allows them to benefit from attractive financing conditions, in a sector that requires substantial investments. Investments in the sector almost reached 15 billion euros in 2021, a historic level. The increase has reached almost 50% since 2017.