Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 210

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 210
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.83 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; |

| • |     | Data-Mobile – an increase of €29 million, or 11.5% in revenue from mobility customers, primarily 
 due to the expansion of services to cruise lines; and                                            |

| • |     | Government – an increase of €132 million, or 34.2% in revenue from government customers in both                                                                                                                                                           
 U.S. government and Global government. Increase was primarily due to new services, capacity upgrades, service transfers from transponder services, an increase in equipment sales, as well due to the acquisition of the DRS Global Enterprise Solutions, 
 Inc. in August 2022 (the “DRS GES Acquisition”). The DRS GES Acquisition has well positioned SES, as a provider of scalable solutions serving the multi-orbit satellite communications needs of the U.S. Government.                                      |

C-band repurposing income C-band repurposing income increased by €2,560 million, to €2,744 million for FY 2023 as compared to €184 million for FY 2022. Excluding the effects of foreign currency translation, C-band repurposing income increased by €2,573 million (FY 2022 at constant FX: €171 million). This increase is attributable to Phase II ARP proceeds of €2,714 million received in 2023, partly offset by the 2022 proceeds for the Verizon accelerated clearing (€173 million). Operating Expenses Cost of sales Cost of sales increased by €85 million, or 24.1%, to €436 million for FY 2023, as compared to €351 million for FY 2022. Excluding the effects of foreign currency translation, cost of sales increased by €87 million, or 24.8% (for FY 2022 at constant FX: €349 million), primarily due to the following:

| • |     | an increase of €51 million in rental of third