SES announced its financial results for Q1 2021. Trajectory in video improved from -8.0% YOY in FY 2020 to -4.6% YOY in Q1 2021. In addition, the company showed a solid networks performance (flat YOY) in the COVID environment with strong prospects for future growth. SES registered a 7% YOY reduction in recurring operating expenses, reflecting S&A gains, supporting higher YOY Adjusted EBITDA margin (61%). Solid cash flow generation and financial discipline were recorded, supporting lower YOY leverage ratio of 3.1 times at 31 March 2021. Adjusted net profit was up 42% YOY to €75 million.
Satellite and Broadcasting
In a bid to harness the potential of new satellite technologies to increase broadband speed in remote areas up to 100 Mbps, the international satellite industry came together in a webinar on "Fostering New Generation of Satellite Technologies in Saudi Arabia", organized by the Saudi telecom regulator the Communications and Information Technology Commission (CITC).
SES announced progress in establishing its new and highly advanced O3b mPOWER satellite ground stations. Accordingly, the first three O3b mPOWER satellites are scheduled for launch in Q3 2021, with the next three in the first quarter of 2022.
Northrop Grumman Corporation and the company’s wholly-owned subsidiary, SpaceLogistics LLC, have successfully completed the docking of the Mission Extension Vehicle-2 (MEV-2) to the Intelsat 10-02 (IS-10-02) commercial communications satellite to deliver life-extension services.
A year after collapsing into bankruptcy, satellite operator OneWeb has revived its goal of providing broadband satellite internet service after European operator Eutelsat said it would invest $550 million in the project.
Arabsat, the leading satellite services provider in the Arab world, announced a strategic partnership and cooperation agreement with Fixed Solutions and EgyptSat. This initiative will enhance the commercial relationship between the three parties, leveraging the different services of Arabsat satellites.
SES has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative, underscoring the company's purpose-led Environmental, Social and Governance (ESG) programme.
Omnispace, LLC and Lockheed Martin have signed a strategic interest agreement to explore jointly developing 5G mobile broadband capability from space. The planned global 5G standards-based non-terrestrial network (NTN) will offer commercial, enterprise and government devices universal communications worldwide. Such network has the potential to redefine efficient mobile communications regardless of environment or location.
Global tech market advisory firm ABI Research forecasts that the satellite broadband market will reach 3.5 million subscribers in 2021. Growing at a compound annual growth rate (CAGR) of 8%, it is anticipated to reach 5.2 million users in 2026. In addition, the market will generate $4.1 billion in service revenue.
A Soyuz rocket took off from a cosmodrome in Russia’s Far East and deployed 36 Florida-built OneWeb internet satellites into orbit. Another batch of OneWeb satellites will launch next month, continuing the build-out of a planned fleet of 648 spacecraft to provide global broadband services.