SES Shares: New Peak Since the Covid Crash, +90% Over a Year
The Luxembourg-based satellite operator continues its forward march, setting a new multi-year high during the session. The stock is among the strongest gains in the SBF 120, while the Parisian market declines. The rally that began in the spring shows no signs of abating for now.
A New Record at €9.61, Following a Spectacular Rally
SES shares gained 1.65% to €9.5750 mid-session, after touching €9.61 intraday, its highest in over six years. The previous record, at €9.51, dated from early 2020, amidst the collapse due to the COVID-19 crisis. The stock is among the strongest gains in the SBF 120, while the broader index is down by 0.23%. The sequence is impressive: nearly 15.3% over the week and a gain of 89.98% over a year. The stock has already broken several technical levels watched in recent weeks, including the resistance at €9.42, now behind it. The crossing of this zone was confirmed on Tuesday, paving the way for the peak recorded this Thursday.
A Marked Overbought Configuration and a Price 51% Above the MM200
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The rally leaves technical indicators in an area of extreme tension. The RSI at 80 indicates a clear overbought configuration, consistent with a bullish pace that has not weakened for several weeks. The MACD remains positive (0.61 against 0.46 for the signal line), confirming the ongoing momentum. The price is significantly above its moving averages: +20.3% compared to the MM20 (€7.96), +37.0% compared to the MM50 (€6.99), and +51.7% above the MM200 (€6.31). Such a gap from the long-term average reflects the magnitude of the movement since the April low, when the stock just passed above €6.32. The performance is +51.4% over three months, placing SES among the strongest progressions in the broad sector. The next technical reference point is now the day's peak at €9.61.
SectorTélécommunications›Équipements de Télécommunications
Context
Period
Period: 3T/9M 2025
Guidance from the release
I am pleased to report our solid 9 months 2025 results which include the first quarter for the combined company following the successful close of the Intelsat acquisition on 17 July 2025.
Croissance tirée par le segment Networks (Aviation, Government), intégration d'Intelsat en bonne voie, carnet de commandes brut de €7,1 billion, lancements O3b mPOWER 9 & 10 réussis et règlement d'assurance partiel d'environ $87 million.
Risks mentioned
Risque de ne pas atteindre les synergies attendues de l’acquisition d’Intelsat
Retards ou échecs de lancements ou problèmes opérationnels des satellites
Risques réglementaires et obtention d’approbations
Pressions concurrentielles et évolution technologique réduisant la demande
Opportunities identified
Positionnement multi-orbit renforcé pour capter la croissance longue durée
Expansion du business Aviation (plus de 3,000 tails; 200 nouveaux tails gagnés depuis clôture)
Augmentation de capacité et résilience avec les satellites O3b mPOWER supplémentaires
Carnet de commandes et renouvellements importants (nouveau business et renewals > €1,4 billion YTD)
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
