(CercleFinance.com) – SES said on Thursday that it expects a drop in its turnover and its gross operating profit (Ebitda) in 2024 due to the rapid evolution of its market, after having achieved performances above his expectations last year.
The satellite operator says it is targeting a turnover of between 1.94 and two billion euros this year, for an adjusted Ebitda expected between 950 million and one billion euros.
For the 2023 financial year, its turnover increased by 4.4% to 2.03 billion euros, including growth of 0.8% at constant exchange rates and scope.
Adel Al-Saleh, the group’s new chief executive, says SES has achieved all its annual financial targets and exceeded its revenue forecast.
At 1.02 billion, annual adjusted Ebitda is down 7.3% in 2023, including a decline of 6.3% like-for-like.
Around 9:45 a.m., the stock fell by more than 5% on the Paris Stock Exchange, among the biggest falls in the SBF index, while its sector index in Europe only lost 0.5%.
The stock also has one of the worst performances in the pan-European STOXX 600 index.
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