CORRECTED-UPDATE 1-Satellite firm SES's revenue jumps 80% as airplane connectivity gains momentum

Boeing Company

Boeing Company

BA

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Corrects paragraph 1 to say result was above market expectations, not in line

- Luxembourg-based satellite operator SES SESFg.LU on Tuesday reported first-quarter results above market expectations and reiterated its full-year outlook, 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)