CEO Adel Al-Saleh confirmed the combined company’s first quarter of operations, highlighting the significant role the newly expanded SES Government Business plays in the firm’s strategic vision. The company finalized its acquisition of Intelsat on July 17, creating a formidable multi-orbit operator.
This strategic move expanded SES’s suite of satellite-based capabilities, coverage, spectrum portfolio, and global ground network, positioning it strongly for future demands. Al-Saleh stated that these results reflect continued operational strength and demonstrate effective delivery on the strategic execution of the newly merged and expanded enterprise.
Financial Strength and Acquisition Synergy
SES demonstrated robust financial performance for the first nine months of 2025. The company posted approximately $2 billion in revenue, marking a substantial 19.8% year-over-year increase, driven by growth across all market verticals. Adjusted EBITDA reached approximately $979 million, representing 11% year-over-year growth.
The results incorporated roughly ten weeks of performance from the consolidated Intelsat business. Additionally, the company secured new business and contract renewals totaling $1.61 billion, which brings its total contract backlog to an impressive $8.2 billion, showcasing strong forward momentum and client confidence.
Expanding SES Government Business Capabilities
The company currently sees strong and escalating demand for its secure communications from government clients globally. By integrating Intelsat’s assets, SES constructed a scaled government solution business serving both sides of the Atlantic.
This new enterprise functions as a true space partner to over 60 government organizations, including European and U.S. agencies. The multi-orbit network architecture equips the company to tackle the sovereign capabilities governments now demand. With defense and space budgets increasing both in the U.S. and among NATO allies, SES views the government vertical as one of its strongest growth levers over the next several years.
Key U.S. Agency Wins
SES’s chief executive pointed to a robust pipeline of government opportunities, bolstered by increased defense spending. The momentum with the U.S. government remains particularly strong, evidenced by several key contract awards.
Specifically, SES Space & Defense won the five-year Sustainment Tactical Network contract, which provides COMSATCOM services to the U.S. Army. Furthermore, the U.S. Space Force awarded SES one of five positions on a five-year, $4 billion contract supporting the Protected Tactical Satellite Communications-Global program.
This significant program aims to deliver resilient, anti-jam communications critical for tactical military operations. The strength of the SES Government Business is clearly tied to these strategic, high-value contract successes.
