SES among the sharpest decliners in the SBF 120, despite +31.5% over one month
The Luxembourg-based satellite operator retreats mid-session, while the Paris stock market gains ground. This pullback follows a surge after the publication of its nine-month accounts.
An intraday decline contrasting with a market index trending higher
The stock loses 2.59% to €4.58, while the SBF 120 gains 0.7% and the CAC 40 advances 0.73%.
The move places SES among the sharpest decliners in the index, behind Eramet (-4.83%). It follows a recovery phase: the stock gains 31.49% over one month, excluding the dividend detachment, after the accounts released on November 5.
In the third quarter, adjusted EBITDA had grown 18.6% on a like-for-like basis and at constant exchange rates, to €413 million, while the net loss over nine months had widened to €175 million.
At the time of this publication, the company maintained its outlook for stable revenue and adjusted EBITDA for 2026, with an order backlog of €10.0 billion. SES has been trading ex-dividend since October 14, following the detachment of an interim dividend of €0.25, which explains the gap between gross and adjusted performance over several months.
The stock remains well above its 20-day moving average and below its 200-day moving average
Despite the session's decline, the price remains 6.36% above its MM20 (€4.31), extending the rebound begun in early November. It remains, however, 20.81% below its MM200 (€5.79), a sign that the recovery has not yet erased the decline of recent months: the loss reaches 8.74% over three months, excluding the dividend detachment.
Resistance stands at €4.75, a few cents from the current price, while support is at €3.58. In a buoyant Paris market, the 10-year French OAT yield is 4.66%, according to the Banque de France report of November 10.
