Company: SGBAF
Filing Date: 2025-05-08
Form Type: F-4/A
Source: 0001193125-25-115825
Chunk: 204

Company: SES S.A.
Filing Date: 2025-05-08
Form: F-4/A
Chunk 204
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 |      |     1 |     |             |     1 |     |            |   — |   |     |               |   — |   |     |            |   n/m |   |     |               |   n/m |   |
| Group Total  |     |      | 2,030 |     |      | 1,944 |     |             | 1,911 |     |            |  86 |   |     |               | 119 |   |     |            |   4.4 | % |     |               |   6.2 | % |

| 1 | “Underlying” revenue represents the core business of capacity sales, as well as associated services    
 and equipment. This revenue may be impacted by changes in launch schedule and satellite health status. |

| 2. | “Periodic” revenue separates revenues that are not directly related to or would distort the                                                                                                                                                            
 underlying business trends. Periodic revenue includes: the outright sale of transponders or transponder equivalents; accelerated revenue from hosted payloads during the course of construction; termination fees; insurance proceeds; certain interim 
 satellite missions and other such items when material                                                                                                                                                                                                  |

| 3 | Other includes revenue not directly applicable to SES Video or SES Networks |

n/m = not meaningful (a variance of more than 100% or less than -100%) By business unit, excluding the impact of foreign currency translation, SES’s revenue increased or decreased due to the following: Video Revenue in our Video business unit decreased by €44 million, or 4.4%, to €967 million for FY 2023 as compared to €1,011 million for FY 2022. The decrease in video business unit revenue reflects lower revenue in mature European and North American markets, stability in international revenue, and continued expansion of the Sports & Events business. 161

Networks Revenue in our Networks business unit increased by €163 million, or 18.1%, to €1,062 million for FY 2023 as compared to €899 million for FY 2022, due to the following:

| • |     | Data-Fixed – an increase of €2 million, or 0.8% in revenue driven by Energy services and equipment                                                                             
 sales in Europe and Latin America, broadly in line with FY 2022. Data-Fixed revenue included periodic revenue of €7 million for FY 2023 as compared to €4 million for FY 2022; |

| • |