Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 292

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 292
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 73 |   |
| Cost and net book value as of December 31, 2022  |     |           |  8 |   |     |         | 1,675 |   |     |         | 159 |   |     |           |  17 |   |     |       | 1,859 |   |

| 1 | Additions related to C-band, O3b mPOWER,                                                                                 
 SES-17, Astra 19.2E (including EUR 37 million non-cash transactions), partly offset by C-band reimbursable space segment 
 (EUR 311 million) and ground segment cost (EUR 13 million)                                                               |

Borrowing costs of EUR 28 million (2022: EUR 16 million) arising from financing specifically relating to satellite procurements were capitalized during the year and are included under ‘Space segment’ additions in the table above. A weighted average effective rate of 3.10% (2022: 2.97%) was used, representing the Group’s average weighted cost of borrowing. Excluding the impact of loan origination costs and commitment fees, the average weighted interest rate was 2.97% (2022: 2.87%). The main space segment additions in 2023 were for O3b mPOWER in amount of EUR 85 million, replacements satellites for the orbital positions 19.2°E and 57°E for EUR 71 million (Note 29) and additions of EUR 48 million in respect of C-bandsatellites, substantially offset by EUR 36 million of C-bandexpected reimbursements (Note 34). The additions for the C-bandrepurposing are included in the Group’s assets in the course of construction space segment within the consolidated statement of financial position and are included ‘Payments for purchases of tangible assets’ within the consolidated statement of cash flows, only to the extent that payments were made to the suppliers. In connection with space segment additions in 2022, the Group recognized EUR 315 million in respect of C-bandsatellites, partly offset by EUR 311 million C-bandexpected reimbursements (Note 34), EUR 218 million in respect of the O3b mPOWER arrangement described in Note 29, EUR 207 million in respect of procurement of satellites in connection with replacements of Astra 19.2°E and NSS-12at 57°E and EUR 1 million associated with SES-17.Due to the nature