SES Shares Surge 6% to 2026 High

SES S.A. reported Q1 2026 revenue €847 million and adjusted EBITDA €404 million, up 44.2% YoY at reported rates.
Adjusted EBITDA margin fell to 47.7% from 55.1% YoY, while like‑for‑like revenue grew 3.1% and EBITDA 5% at constant rates.
CEO Adel Al‑Saleh reiterated 2026 outlook, forecasting revenue and EBITDA to be stable YoY, with €700 million capex including IRIS2 and meoSphere.
Net profit swung to a €16 million loss; adjusted net debt/EBITDA rose to 4.1×, while cash stood at €874 million (excluding €306 million restricted).