LUXEMBOURG -- SES S.A. has taken note of Moody’s Ratings Press Release today with regards to SES and is providing a market update ahead of its Full Year 2024 financial results announcement on 26 February 2025.

SES expects Full Year 2024 Results(1) to be better-than-expected with Revenue at the top end of the financial outlook range (€1,940-2,000 million)(2) and Adjusted EBITDA above the outlook range (€950-1,000 million)(2).

The proposed acquisition of Intelsat is on track to close during H2 2025. SES expects to reconfirm all financial targets for the combined company (pre-IRIS2) published in the transaction announcement in April 2024, including low- to mid-single digit average annual growth in Revenue for 2024-2028E, mid-single digit average annual growth in Adjusted EBITDA for 2024-2028E, and strong Free Cash Flow generation. SES remains committed to maintaining Investment Grade metrics.

SES management looks forward to announcing its Full Year 2024 Results and discussing these, as well as its views on the outlook for the sector with market participants on 26 February 2025.