SES CEO Adel Al-Saleh said the third quarter of 2025 marked the first quarter of the combined company following the full consolidation of Intelsat from July 17.
In July, Luxembourg-based satellite communications company SES closed its acquisition of Intelsat to create a multi-orbit operator that offers an expanded suite of satellite-based capabilities, greater coverage, spectrum portfolio and a ground network to serve customers worldwide.
“The results reflect continued operational strength and demonstrate continued delivery on the strategic execution of the newly combined and expanded SES,” Al-Saleh said in a statement published Thursday.
At a conference call Thursday, Al-Saleh noted that Intelsat contributed roughly 10 weeks to the standalone business performance and that financial results are reported on this basis.
For the first nine months of 2025, SES reported approximately $2 billion in revenue, a 19.8 percent year-over-year increase driven by growth across all verticals. Adjusted EBITDA for the nine months was approximately $979 million, representing 11 percent year-over-year growth and a margin of 48.6 percent.
The company secured approximately $1.61 billion in new business and contract renewals and reported a total backlog of around $8.2 billion.
SES CEO on Government Business
During the call, Al-Saleh said the company continues to see strong and growing demand for its secure communications offerings from government customers worldwide.
“Together, we build a government solution business of scale on both sides of the Atlantic being true space partner to over 60 government organizations, including European and U.S. agencies. We’re well positioned to tackle the sovereign capabilities governments now demand with multi-orbit networks with space and defense budgets increasing both in the U.S. and amongst NATO allies as we view the governments vertical as one of the strongest growth levers over the next few years,” he told analysts.
Al-Saleh on US Government Contract Wins
The chief executive stated that the company has a robust pipeline of government opportunities, backed by increased defense spending in Europe and NATO countries.
He highlighted strong momentum with the U.S. government, noting several key contract awards, including the five-year Sustainment Tactical Network contract awarded to SES Space & Defense to provide the U.S. Army with COMSATCOM services.
In addition, he noted that the U.S. Space Force awarded SES and four other companies positions on a five-year, $4 billion contract in support of the Protected Tactical Satellite Communications-Global program, which aims to deliver resilient, anti-jam communications for tactical military operations.
