SES Global Expects Cash Flow Increase Starting in '05

摘要

SES Global conceded it was overly optimistic in predicting a business turnaround this year, but insisted that new contracts from U.S. and European broadcasters are enough to assure at least 10 percent sales growth in 2005 and again in 2006. Sales will be flat in 2004 compared to 2003, company officials said. The world's largest commercial satellite fleet operator said it will generate substantially increased cash flow starting in 2005 because of lower capital expenditures and despite an expected insurance rate hike and continued downward pressure on transponder-lease prices.