BRUSSELS: SES, the world's second-largest satellite operator, forecast slower revenue growth this year because of the delayed launch of two satellites and reduced transmission capacity in another.
SES, which sells transmission capacity to the likes of BSkyB, Canal Plus, Premiere and NBC, said on Friday it expected recurring revenue growth of about 3 percent in 2011, down from 5.1 percent in 2010.
"It will rise strongly thereafter as the group will benefit from the full-year impact of the new capacity launched in 2011," SES said, adding it had cut its 2010-2012 growth target to 4-5 percent from 5 percent.
SES, whose business suffered little pain in the downturn, said core fourth-quarter profit (earnings before interest, tax, depreciation and amortisation) rose 16 percent to 335 million euros ($455 million), compared with a forecast for 318 million.
SES's growth has broadly come from expansion in emerging markets and migration to high-definition broadcasts in the developed world.
On Thursday, Eutelsat, SES's main European rival, reported first-half revenue grew 13.3 percent to 576 million euros with EBITDA up 12.5 percent to 463 million.
Intelsat took over the number one spot from SES with its $3.2 billion takeover of PanAmSat completed in 2006. Eutelsat is the other main commercial satellite operator.
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