SES: share price down, earnings expected to fall in 2024
The satellite operator says it is targeting sales of between €1.94 and €2 billion this year, with adjusted Ebitda expected to be between €950 million and €1 billion.
In fiscal 2023, sales rose by 4.4% to €2.03 billion, including 0.8% growth at constant exchange rates and scope of consolidation.
Adel Al-Saleh, the Group's new CEO, reports that SES has achieved all its annual financial targets and exceeded its sales forecast.
At 1.02 billion, annual adjusted Ebitda is down 7.3% in 2023, including a 6.3% decline on a like-for-like basis.
At around 9:45 a.m., the stock was down by over 5% on the Paris Bourse, among the SBF index's biggest decliners, while its European sector index was down by just 0.5%.
The share was also one of the worst performers on the pan-European STOXX 600 index.
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