Satellite group SES beats revenue forecast as defence spending rises in Europe
(Reuters) -European satellite company SES reported second-quarter revenue above market expectations on Thursday, buoyed by its strong backlog of government contracts, and reiterated its guidance for 2025.
"We have a robust pipeline of Government opportunities supported by increased defence spending in Europe," CEO Abdel Al-Saleh said in a statement.
The Luxembourg-based company signed 690 million euros ($789.15 million) worth of new contracts in the first half of 2025, with a gross backlog of 4.2 billion euros at the end of the period.
Its total revenue reached 469 million euros in the second quarter, ahead of analysts' 464 million euro forecast provided by SES.
($1 = 0.8744 euros)
(Reporting by Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)
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