What is the SES IRIS² program?

IRIS² is the European Union's sovereign connectivity infrastructure program, designed to compete with Elon Musk's Starlink, and SES is working with the European Commission on its validation.

How has SES adjusted its capital spending?

SES has lowered its expected capital expenditures for 2026 by 100 million euros, targeting approximately 700 million euros.

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SES Cuts Spending Amid Satellite Fleet Expansion

Q: What were SES's financial results for 2025?

SES reported 2.63 billion euros in annual revenue and 1.2 billion euros in adjusted EBITDA, meeting market expectations.

2 Mar

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Summary

SES reported 2025 revenue and EBITDA in line with expectations.
The company signed 1.8 billion euros in new contracts in 2025.
SES lowered its 2026 capital expenditure target by 100 million euros.

SES Cuts Spending Amid Satellite Fleet Expansion

European satellite operator SES announced its full-year financial results on March 2, 2026, which met market expectations. The company reported 2.63 billion euros in annual revenue and 1.2 billion euros in adjusted EBITDA, both aligning with consensus.

SES also announced a reduction in its 2026 capital spending forecast by 100 million euros, targeting approximately 700 million euros. This strategic adjustment comes as the company prepares for the launch of up to 13 satellites later in 2026. Demand for secure communications in Europe has helped offset financial impacts from other sectors.

The company has secured 1.8 billion euros in new contracts during 2025, increasing its gross backlog to over 6.6 billion euros. SES is actively working with the European Commission on the IRIS² program, a sovereign connectivity initiative for the EU designed to compete with services like Starlink.

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