Company: SGBAF
Filing Date: 2025-01-17
Form Type: DRS/A
Source: 0000950123-25-000378
Chunk: 266

Company: SES S.A.
Filing Date: 2025-01-17
Form: DRS/A
Chunk 266
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 applies whether we provide the satellite
capacity services for a contract using a single transponder or multiple transponders, or for a contract using a single beam or multiple beams on one or several satellites. The distinct units of volume of satellite capacity for each contract are
substantially the same and have the same pattern of transfer to the customer and therefore are treated as a single performance obligation. Revenue from customers under service agreements for these services is generally recognized on a straight-line
basis over the duration of the respective contracts, including any free-of-charge periods. Using a straight-line measure of progress most faithfully depicts the
Group’s performance because the Group makes available a consistent level of capacity over each distinct time period. For certain performance obligations, we use a cost-based input method to recognize revenue if we determine that a basis
reflecting the costs incurred to date relative to the total costs expected to be incurred better reflects the pattern of transfer of control of the services to the customer. Revenue will cease to be recognized if there is an indication of a
significant deterioration in a customer’s ability to pay for the remaining goods or services.

Revenue from the sale of equipment

SES equipment may be sold either on a standalone basis for which one contract includes only a sale of equipment or as part of a bundle for
which one contract includes the sale of capacity, equipment, and lifecycle services.

When equipment is sold on a standalone basis, the
Group recognizes revenue for the sale of equipment at a point in time when it transfers control of the equipment to the customer, which is typically when the Group transfers title, physical possession, and the significant risks and rewards of the
equipment to the customer. The Group’s equipment contracts do not typically contain a right of return.

When equipment is sold on a
bundle basis together with other services, the Group determines the level of customization of the equipment being sold. Our customers typically may use the equipment we sell interchangeably with satellite capacity provided by the Group or other
satellite operators and do not require significant integration, customization, or modification services. Such equipment is treated as a separate performance obligation from the bundle and is recognized in the same manner as equipment sold on a
standalone basis as described above.

F-27

Confidential Treatment Requested by SES

Pursuant to 17 C.F.R. Section 200.83

Consolidated financial statements

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

The Group may offer warranties on equipment.