Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 305

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 305
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 cost determined on a weighted average-cost method. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Obsolescence provisions are recorded on a category-by-categorybasis for ground equipment as required based on management’s review of inventory turnover and aging and business projections concerning future customer requirements. F-27

Consolidated financial statements

as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022

Trade receivables

Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less
provision for impairment. For impairment of trade receivables, the Group estimates expected lifetime credit losses that would typically be carried for each receivable based on the credit risk class upon the initial recognition of the receivables.
Expected lifetime credit losses are estimated based on historical financial information as well as forward-looking data. Additional provisions are recognized when specific circumstances or forward-looking information led the Group to believe that
additional collectability risk exists with respect to customers that are not adequately reflected in loss expectancy rates. The Group writes off trade receivables when it has no reasonable expectation of recovery. The Group evaluates the credit risk
of its customers on an ongoing basis.

Trade and other payables

Trade and other payables are initially recognized at fair value and subsequently carried at amortized cost using the effective interest method.

Prepayments

Prepayments represent
expenditures paid during the financial year but relating to a subsequent financial year. The prepaid expenses comprise mainly insurance, rental of third-party satellite capacity, advertising expenses as well as loan origination costs related to loan
facilities which have not been drawn.

Treasury shares

Treasury shares are mostly acquired by the Group in connection with share-based compensation plans and are presented as a set off to equity in
the consolidated statements of financial position. Gains and losses on the purchase, sale, issue or cancelation of treasury shares are not recognized in the consolidated income statements, but rather in the equity.

Cash and cash equivalents

Cash and cash
equivalents comprise cash at banks and on hand, deposits and short-term, highly liquid investments readily convertible to known amounts of cash and subject to insignificant risk of changes in value. Cash on hand and in banks and short-term deposits
which are held to maturity are carried at amortized cost.

Revenue recognition

Revenues are generated predominantly