SES S.A. Detailed Consensus
Last Update: 2020-07-27
Note
  • Net profit attributable to SES shareholders: excluding cost of Hybrid coupon, after tax
  • Earnings per share: including cost of Hybrid coupon, after tax, and based on 460.15 million total number of economic shares
  • Net debt: Excluding Hybrid bonds
  • Return on Invested Capital: (Operating profit × (1-effective tax rate))/(Average of opening and closing shareholders' equity + net debt)

KPI[EUR m]Q2 2019Q1-Q2 2019FY 2019Q2 2020 EH1 2020 EFY 2020 EFY 2021 EFY 2022 E
Average EUR/USD FX rateNumber of Estimates105888
Average EUR/USD FX rateHighest1.10501.10701.15001.15001.1500
Average EUR/USD FX rateAverage1.12011.13261.12131.09791.10401.10791.10281.1028
Average EUR/USD FX rateMedian1.10001.10451.10121.09831.0983
Average EUR/USD FX rateLowest1.07951.10101.08991.08001.0800
Total RevenueNumber of Estimates1111111010
Total RevenueHighest4769551,9791,9962,044
Total RevenueAverage4819611,9844549331,8951,9131,935
Total RevenueMedian4589371,9001,9161,943
Total RevenueLowest4349131,8291,8151,796
-VideoNumber of Estimates1111111010
-VideoHighest2825641,1471,1021,069
-VideoAverage3016051,2132765581,1181,0701,029
-VideoMedian2755571,1131,0691,029
-VideoLowest2725531,1001,047994
- thereof DistributionNumber of Estimates99988
- thereof DistributionHighest211423856814784
- thereof DistributionAverage225455910208420839794758
- thereof DistributionMedian209420838795764
- thereof DistributionLowest201413821762724
- thereof ServicesNumber of Estimates99988
- thereof ServicesHighest70140285285292
- thereof ServicesAverage7515030467138276272265
- thereof ServicesMedian67137278273268
- thereof ServicesLowest64135256259240
-NetworksNumber of Estimates1111111010
-NetworksHighest1963938249011,002
-NetworksAverage180356762177373767831894
-NetworksMedian178375770825891
-NetworksLowest160357699708732
- thereof Fixed DataNumber of Estimates1111111010
- thereof Fixed DataHighest64133277289317
- thereof Fixed DataAverage5811726060129260262271
- thereof Fixed DataMedian61130265269283
- thereof Fixed DataLowest55124222193171
- thereof MobilityNumber of Estimates1111111010
- thereof MobilityHighest57115242292347
- thereof MobilityAverage489720844102200242279
- thereof MobilityMedian43101194243288
- thereof MobilityLowest2582155176208
- thereof GovernmentNumber of Estimates1111111010
- thereof GovernmentHighest79149356393431
- thereof GovernmentAverage7314229573143307327344
- thereof GovernmentMedian72142301324343
- thereof GovernmentLowest70140289295295
-OtherNumber of Estimates1111111010
-OtherHighest77404039
-OtherAverage11922101212
-OtherMedian12999
-OtherLowest01-066
EBITDA (including restructuring charges)Number of Estimates1111111010
EBITDA (including restructuring charges)Highest2785631,1471,1841,218
EBITDA (including restructuring charges)Average2945851,2172555401,1081,1331,139
EBITDA (including restructuring charges)Median2545391,1031,1431,156
EBITDA (including restructuring charges)Lowest2335181,0601,0351,006
Operating profitNumber of Estimates99101010
Operating profitHighest96200406459467
Operating profitAverage10321636575179364379353
Operating profitMedian73177377395359
Operating profitLowest55159282245193
Net profit attributable to SES shareholdersNumber of Estimates99101010
Net profit attributable to SES shareholdersHighest53104217286287
Net profit attributable to SES shareholdersAverage971692962879179202174
Net profit attributable to SES shareholdersMedian2576188199166
Net profit attributable to SES shareholdersLowest11621027952
Earnings per share Number of Estimates77999
Earnings per share Highest0.090.180.370.520.52
Earnings per share Average0.190.320.540.030.120.290.330.27
Earnings per share Median0.020.110.300.330.23
Earnings per share Lowest-0.000.080.180.140.09
Dividend per share Number of Estimates--101010
Dividend per share Highest--0.460.520.58
Dividend per share Average--0.40--0.410.410.42
Dividend per share Median--0.400.400.40
Dividend per share Lowest--0.400.400.40
Net operating cash flow (NOCF)Number of Estimates--999
Net operating cash flow (NOCF)Highest--1,1051,1271,168
Net operating cash flow (NOCF)Average-5541,134--1,0181,0601,064
Net operating cash flow (NOCF)Median--9991,0811,072
Net operating cash flow (NOCF)Lowest--909941946
Investing activities/CapExNumber of Estimates--101010
Investing activities/CapExHighest---329-1,291-297
Investing activities/CapExAverage--174-308---342-1,320-391
Investing activities/CapExMedian---340-1,310-390
Investing activities/CapExLowest---368-1,380-460
Net debt Number of Estimates--101010
Net debt Highest--3,0593,7343,555
Net debt Average-3,6163,273--2,9223,4903,143
Net debt Median--2,9733,5553,156
Net debt Lowest--2,4203,0942,661
Return on Invested CapitalNumber of Estimates--111
Return on Invested CapitalHighest--3.43.84.5
Return on Invested CapitalAverage-----3.43.84.5
Return on Invested CapitalMedian--3.43.84.5
Return on Invested CapitalLowest--3.43.84.5
Disclaimer

This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.