Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 329

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 329
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                             |     |            |    7 |   |     |          |  (2 | ) |     |       |  — |   |     |       |    5 |   |
| Balance as of December 31, 2024                  |     |            |  134 |   |     |          |  59 |   |     |       | 47 |   |     |       |  240 |   |

Note 11—Components of other comprehensive income

| € million                                        |     | 2024 |     |   |     | 2023 |      |   |     | 2022 |     |   |
| Impact of currency translation                   |     |      | 228 |   |     |      | (196 | ) |     |      | 295 |   |
| Income tax effect                                |     |      | (12 | ) |     |      |   11 |   |     |      | (31 | ) |
| Total impact of currency translation, net of tax |     |      | 216 |   |     |      | (185 | ) |     |      | 264 |   |

F-47

Consolidated financial statements as of and for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 The impact of currency translation in other comprehensive income relates to exchange gains and losses arising on the translation of the net assets of foreign operations from their functional currency to the euro, which is the Company’s functional and presentation currency. The unrealized gain in 2024 of EUR 228 million (2023: unrealized loss of EUR 196 million, 2022: unrealized gain of EUR 295 million) reflects the impact on the valuation of SES’s net US dollar assets due to the strengthening of the US dollar against the euro from USD 1.1050 to USD 1.0389 (2023: the weakening of the US dollar against the euro from USD 1.0666 to USD 1.1050, 2022: the strengthening of the US dollar against the euro from USD 1.1326 to USD 1.0666). This effect is partially offset by the impact of the net investment hedge (Note 22). Note 12—Earnings per share Earnings per share is calculated by dividing the net profit or loss for the year attributable to ordinary shareholders of each class of shares by