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TL;DR

SES reported €2 001 000 000 in revenue for 2024, a drop of 0.9 percent, while adjusted EBITDA inched up by 0.9 percent thanks to aggressive expense control.

Its €3.2 billion in cash must cover a massive IRIS² capex plan and the pending Intelsat takeover, leaving SES’s prospects hanging on those big bets in a sector where few things run smoothly.

SES Satellites just released its 2024 financial results, and wow, what a performance …

…if you consider “slightly declining revenue” to be a performance.

They managed to bring in €2,001 million, which is down 0.9% year-over-year. But don’t worry! They still proudly declare that this is at the “top end of their financial outlook” because apparently, setting the bar low enough that even tripping over it looks like a victory is a valid strategy.

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