SES S.A. Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,627	2,001	2,030	1,944	1,782
Revenue Growth (YoY)	31.28%	-1.43%	4.42%	9.09%	-5.01%
Cost of Revenue	987	651	655	563	460
Gross Profit	1,640	1,350	1,375	1,381	1,322
Selling, General & Admin	209	157	140	94	68
Amortization of Goodwill & Intangibles	140	156	89	63	95
Other Operating Expenses	241	165	210	182	163
Operating Expenses	1,426	1,128	1,042	981	901
Operating Income	214	222	333	400	421
Interest Expense	-258	-124	-98	-124	-121
Interest & Investment Income	160	132	51	6	-
Currency Exchange Gain (Loss)	-58	4	13	45	37
Other Non Operating Income (Expenses)	-39	2	-8	-15	13
EBT Excluding Unusual Items	19	236	291	312	350
Merger & Restructuring Charges	-139	-118	-36	-12	-8
Impairment of Goodwill	-	-	-1,548	-77	-673
Gain (Loss) on Sale of Investments	-12	4	-	-	-
Asset Writedown	-146	-123	-2,128	-320	-51
Other Unusual Items	163	83	2,693	149	779
Pretax Income	-115	82	-728	52	397
Income Tax Expense	-21	55	176	87	-49
Earnings From Continuing Operations	-94	27	-904	-35	446
Minority Interest in Earnings	-1	-12	-1	1	7
Net Income	-95	15	-905	-34	453
Preferred Dividends & Other Adjustments	11	15	36	36	41
Net Income to Common	-106	-	-941	-70	412
Shares Outstanding (Basic)	414	425	439	438	445
Shares Outstanding (Diluted)	414	429	439	438	449
Shares Change (YoY)	-3.59%	-2.27%	0.15%	-2.27%	-1.43%
EPS (Basic)	-0.26	-	-2.14	-0.16	0.93
EPS (Diluted)	-0.26	-	-2.14	-0.16	0.92
Free Cash Flow	386	726	3,096	159	1,051
Free Cash Flow Per Share	0.93	1.69	7.05	0.36	2.34
Dividend Per Share	0.500	0.500	0.500	0.500	0.500
Dividend Growth	-	-	-	-	25.00%
Gross Margin	62.43%	67.47%	67.73%	71.04%	74.19%
Operating Margin	8.15%	11.09%	16.40%	20.58%	23.63%
Profit Margin	-4.04%	-	-46.36%	-3.60%	23.12%
Free Cash Flow Margin	14.69%	36.28%	152.51%	8.18%	58.98%
EBITDA	1,127	1,003	1,006	1,086	1,080
EBITDA Margin	42.90%	50.13%	49.56%	55.86%	60.61%
D&A For EBITDA	913	781	673	686	659
EBIT	214	222	333	400	421
EBIT Margin	8.15%	11.09%	16.40%	20.58%	23.63%
Effective Tax Rate	-	67.07%	-	167.31%	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.