Company: SGBAF
Filing Date: 2025-04-01
Form Type: DRS/A
Source: 0000950123-25-003272
Chunk: 374

Company: SES S.A.
Filing Date: 2025-04-01
Form: DRS/A
Chunk 374
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     |       |    41 |   |
| Cost as of December 31, 2022                    |     |         | 1,022 |   |     |         |  53 |   |     |       | 1,075 |   |
| Expected reimbursements as of January 1, 2022   |     |         |  (668 | ) |     |         | (37 | ) |     |       |  (705 | ) |
| Additions / (rejections) (net)                  |     |         |  (311 | ) |     |         | (13 | ) |     |       |  (324 | ) |
| Repayments                                      |     |         |   679 |   |     |         |   1 |   |     |       |   680 |   |
| Impact of currency translation                  |     |         |   (45 | ) |     |         |  (2 | ) |     |       |   (47 | ) |
| Expected reimbursements as of December 31, 2022 |     |         |  (345 | ) |     |         | (51 | ) |     |       |  (396 | ) |

In 2024 the Group incurred no capital expenditures (2023: EUR 52 million, 2022: EUR 329 million) which were partially offset by expected reimbursements as per the table above. Due to the finalization of reimbursable amounts versus expectations, an amount of EUR 11 million was reclassified from ‘Other receivables’ to ‘Assets-under-construction’ (2023: EUR 38 million reclassified from ‘Assets-under-construction’ to ‘Other receivables’). With effect from February 28, 2024, the Group and the C-Bandoverlay licensees entered into two Settlement Agreements whereby the Group would retain its legal title to the two C-Bandsatellites SES-19and SES-23for an aggregate amount of USD 24 million (EUR 22 million). The Group records repurposing operating expenses as incurred and corresponding reimbursement income when the Group has obtained reasonable assurance that the costs will be reimbursed and that it will comply with any associated requirements. In 2024 the Group recorded C-bandrepurposing income of EUR 88 million (2023: EUR 2,744 million, 2022: EUR 184 million), including the Accelerated Relocation Payments mentioned above.