Satellite operator SES tops SBF 120 after Q1 results beat expectations

SES SA

12/05/2026 09:20

** Luxembourg-based satellite operator SES's SESFg.LU Paris-listed shares jump 9% to their highest levels since July 2022, topping France's SBF 120 index .SBF120, after its Q1 revenue and profit beat analysts' expectations

** The revenue beat was driven by the strong performance of the company's airplane connectivity business, Berenberg says

** Ahead of market open, the broker said it expected a positive share reaction, "given the beat on profits and confirmation of full-year guidance"

** J.P. Morgan also calls the headline beat "material"

** However, JPM notes that an 81-million-euro aviation contract restructuring impact, which SES had anticipated in its guidance but would have been unknown to market consensus, accounts for more than the entire profit beat

(Reporting by Leo Marchandon in Gdansk)

((leo.marchandon@thomsonreuters.com))