Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 283

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 283
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 forward in the Luxembourg fiscal unity as of the end of 2022 the Company has concluded that a portion of ITCs recognized in prior years cannot be fully used due to the 10-yearcarry forward limitation rule. Therefore, a valuation adjustment of EUR 110 million on deferred tax assets for ITCs for Luxembourg fiscal unity was recorded in 2022. An additional deferred tax asset of EUR 3 million (2022: 17 million) for tax losses and interest carried forward was recognized for HD Plus GmbH, as management believes that it is probable that sufficient taxable profits will be available in that company in the future to utilize those losses. Impairment on subsidiaries and other assets The aggregate impact of EUR 167 million for the year ended December 31, 2023 and EUR 0 million for the year ended December 31, 2022 mainly comprise the following:

| • |     | The net impairment charge of EUR 453 million (2022: EUR 142 million) recorded on the carrying value of                                               
 subsidiary investments and other assets held by entities in Luxembourg resulting in an income tax benefit of EUR 123 million (2022: EUR 38 million). |

| • |     | The new impairment charges of EUR 35 million (2022: reversal of EUR 62 million) taken on the carrying value                                           
 of intercompany receivables held by entities in Luxembourg resulting in an income tax benefit of EUR 9 million (2022: tax expense of EUR 17 million). |

| • |     | The impairment charge of EUR 989 million (2022: EUR 77 million) recorded in connection with the goodwill                                             
 attributed to the GEO North America cash-generating unit (see Note 15) resulting in a negative ETR impact of EUR 208 million (2022: EUR 16 million). |

| • |     | The impairment charge of EUR 340 million (2022: nil) recorded in connection with the goodwill attributed to                
 the GEO International cash-generating unit (see Note 15) resulting in a negative ETR impact of EUR 81 million (2022: nil). |

| • |     | The impairment charge of EUR 219 million (2022: nil) recorded in connection with the goodwill attributed to 
 MEO cash-generating unit resulting in a negative ETR impact of EUR 13 million (2022: nil).                  |

Translation impact on investments in subsidiaries The elimination of the tax effect on the translation impact resulting from intercompany restructur