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SES’s networks business revenues increased 2.1% to 387,000,000 EUR for the first six months of 2022.
SES reported receipt of over $520,000,000 of cost reimbursements to date via the C-band clearinghouse process.
SES reported leverage reduced to 3.0 times as of 30 June 2022.
SES reported revenue of €899 million for the six months ended 30 June 2022, an increase of 2.8% year-on-year as reported.
Group adjusted EBITDA for SES dropped 3.8% to 545,000,000 EUR for the first half of 2022.
SES reported Adjusted Net Profit of €168 million for the six months ended 30 June 2022, an improvement of 11% year-on-year.
SES delayed launches of its O3b mPower constellation satellites, moving planned SpaceX launches from July–September 2022 to October–December 2022.
SES GS will offer second-generation MEO services via SES’s soon-to-be-launched O3b mPOWER system providing low latency and high throughput per terminal.
The combined business will serve US Government customers under the direction of the SES GS Proxy Board of Directors.
SES GS will integrate and manage multi-orbit geostationary and medium earth orbit (MEO) services as well as multi-operator network solutions.
SES completed the acquisition of DRS Global Enterprise Solutions from Leonardo DRS for $450,000,000 on 2022-08-01.
The combined SES Government Solutions business is led by former DRS senior vice president David Fields, who assumed responsibilities on 2022-08-01.
SES and its wholly-owned subsidiary SES Government Solutions completed the acquisition of DRS Global Enterprise Solutions from Leonardo DRS for $450,000,000 after obtaining all necessary regulatory approvals.
SES completed the acquisition of DRS Global Enterprise Solutions from Leonardo DRS for $450,000,000 on 2022-08-01.
The DRS GES business was combined with SES Government Solutions to create a scaled solutions provider serving multi-orbit satellite communications needs of the US Government.
The new combined business will offer multi-operator network solutions and particularly focus on SES’s O3b mPower constellation, which SES designed with military and government customers in mind.
SES, headquartered in Luxembourg, operates a fleet of more than 70 geosynchronous and medium Earth orbit satellites.
David Fields will lead the combined business as President and CEO of SES Government Solutions beginning 2022-08-01.
The combined SES and DRS business will operate under the direction of the SES GS proxy board of directors as required for U.S. government and defense contractors owned by a foreign parent company.
Before the sale to SES, DRS Global Enterprise Solutions was a business unit of Leonardo DRS and one of a handful of network integrators that provide managed satcom services to the Defense Department and other government agencies.