Satellite group SES beats forecasts as defence spending rises in Europe

FILE PHOTO: Satellite model is placed on SES logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

(Reuters) -European satellite company SES reported second-quarter sales and core earnings above market expectations and confirmed its 2025 guidance on Thursday, buoyed by its strong backlog of government contracts.

"We have a robust pipeline of Government opportunities supported by increased defence spending in Europe," CEO Abdel Al-Saleh said in a statement.