Company: SGBAF
Filing Date: 2025-04-29
Form Type: F-4
Source: 0001193125-25-103898
Chunk: 321

Company: SES S.A.
Filing Date: 2025-04-29
Form: F-4
Chunk 321
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ports, connectivity, equipment and equipment rental, customer support                  
 costs such as hosting, monitoring, implementation, engineering work. Other cost of sales detailed below mainly include commissions, as well as an amount of EUR 1 million (2023: EUR 2 million ,2022: EUR 3 million) for C-band repurposing related expenses (Note 36). |

| € million                                |     | 2024 |      |   |     | 2023 |      |     |     | 2022 |      |    |
| Rental of third-party satellite capacity |     |      | (157 | ) |     |      | (140 | )** |     |      | (94  | )  |
| Customer support costs                   |     |      | (238 | ) |     |      | (236 | )** |     |      | (199 | )* |
| Other cost of sales                      |     |      | (66  | ) |     |      | (68  | )   |     |      | (67  | )* |
| Total cost of sales                      |     |      | (461 | ) |     |      | (444 | )   |     |      | (360 | )  |

| * | 2023 Customer support costs have been changed in order to include indirect customer related expenses,                                                   
 reclassified from Other cost of sales. An amount of EUR 90 million in 2022 has been reclassified from “Other cost of sales” to “Customer support costs” |

| ** | Costs of EUR 7 million in 2024, EUR 8 million in 2023 and EUR 9 million in 2022 associated with                                                                                                                                
 satellite telemetry, tracking and control services which were previously included under ‘Other operating expenses,’ are now reported as part of ‘Cost of Sales’ to be consistent with the current year presentation and better 
 aligned with the nature of the expenses.                                                                                                                                                                                       |

| 2 | Staff costs of EUR 402 million (2023: EUR 409 million, 2022: EUR 330 million) include gross salaries                                                                                                                                       
 and employer’s social security payments, payments into pension schemes for employees, charges arising under share-based payment schemes, as well as staff-related restructuring charges of EUR 54 million (2023: EUR 27 million, 2022: EUR 
 9 million) and C-band repurposing related expenses of EUR 0 million (2023: EUR 29 million,