(Boursier.com) — In the 1st quarter of 2022, HIS achieved a turnover of 448 million euros and an adjusted Ebitda of 274 ME. Significant contract renewals took place in the Video business (-6% YoY, -4% YoY excluding US wholesale) driving long-term value. Networks achieves resilient performance (stable year-on-year), growth in the Mobility segment and new contracts for Government services, which are sources of future revenue.
Adjusted net income was up 17% to E88 million, benefiting in particular from lower recurring operating expenses and interest costs.
The 2021 dividend is €0.50 per Class A share (+25% year-on-year). It was paid to shareholders in April 2022
Prospects displayed
SES is in line with 2022 forecasts in terms of revenue and EBITDA, and with the prospects for long-term value creation through differentiated investments
More than 85% of the Group’s anticipated 2022 revenues (€1.75 to €1.81 billion) have already been contracted. Adjusted EBITDA forecasts for 2022 (€1.03 to €1.07 billion) reflect robust profitability despite additional expenses committed to improving Networks’ growth.
SES has $910m in gross order intake for SES-17 (expected entry into service mid-2022) and O3b mPOWER (expected entry into service early 2023).
Among brokers’ comments, Barclays adjusted the target from 10 to 10.5 euros (‘overweight’), while SocGen upgraded the file from 9.3 to 10 euros with a notice to buy’. The stock rose 1.5% this Friday to 8.52 euros.
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