Welcome to our dedicated page for SES S.A. SEC filings (Ticker: SGBAF), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
SES S.A. (SGBAF) files as a foreign private issuer, with Form 6-K reports furnishing annual reports, audited consolidated financial statements, AGM materials and material-event disclosures. The filings document SES’s multi-orbit satellite and terrestrial network business, revenue from customer contracts, property and equipment, intangible assets, borrowings, financial instruments, financial risk management and business combinations.
SES filings also cover shareholder voting results, A-share and B-share dividend approvals, board composition, hybrid securities issued through SES Financing S.à r.l., subordinated guarantees, tender offers for outstanding securities, credit-rating matters and deleveraging disclosures.
SES S.A. (SGBAF), a Luxembourg public limited company, reported a new exempt offering of equity securities in the United States under Regulation D, Rule 506(b). The offering has raised $8,121,401 with $0 remaining to be sold, and the date of first sale was August 5, 2026.
The issuer indicates a revenue range of over $100,000,000 and reports $0 in finders’ fees. The notice is signed by Chief Legal Officer Aaron Shourie on behalf of SES S.A.
SES reported an expanded strategic investment and collaboration with Elveo Mobile, a new company formed from the merger of Lynk and Omnispace. Elveo focuses on direct-to-device (D2D) services, delivering mobile connectivity from space to phones, devices and machines worldwide.
SES will support Elveo’s engineering, operations, regulatory and go-to-market activities and work jointly on global spectrum initiatives for D2D services. SES customers are expected to gain multi-orbit access to Elveo’s low-Earth orbit network alongside SES’s own GEO and MEO networks, aiming to offer an integrated, cost-effective D2D satellite connectivity solution.
SES reports the successful completion of Rendez-vous 1 (RDV1) under the EU’s IRIS² secure connectivity programme, a key implementation milestone that validates programme costs, technical requirements, timelines and industrial arrangements for the Medium Earth Orbit (MEO) segment.
SES expects a capital commitment for the MEO segment of up to €1.35 billion, maintaining deployment of 18 MEO satellites with targeted service entry in 2030. Management states that the Internal Rate of Return is expected to meet SES’s minimum 10% hurdle rate and that about 90% of MEO capacity is expected to remain commercially exploitable by SES over the satellites’ lifetime. SES indicates the 2026 share of IRIS² investment is already included in its FY26 capex outlook and that no future exceptional cash proceeds will be used to fund the project.
The company highlights significant public funding, built-in protection mechanisms and an expanded operational role, including designing and building payloads, satellite AIT in Luxembourg, leading user terminal development and operating LEO/MEO services through IRIS² control centres, positioning IRIS² as a cornerstone of SES’s next-generation MEO strategy.
SES S.A. reported H1 2026 revenue of €1,602 million, up 63.9% year-on-year, mainly reflecting full consolidation of Intelsat and strong growth in Networks and Media. Adjusted EBITDA rose to €725 million with a 45.2% margin, while combined like-for-like revenue and EBITDA declined at constant FX.
After higher depreciation, amortisation and financing costs linked to the Intelsat acquisition, SES recorded an Adjusted Net Loss of €89 million and a net loss attributable to shareholders of €176 million, with Adjusted Free Cash Flow turning to an outflow of €130 million. Adjusted Net Debt to Adjusted EBITDA increased to 4.4x, despite repaying about €1,186 million of debt and issuing €650 million of hybrid equity securities.
Management reiterated the 2026 outlook for stable like-for-like revenue and Adjusted EBITDA and capital expenditures of around €700 million. The FCC’s Upper C‑band decision would provide gross incentive payments of approximately $5.6 billion if SES clears 160 MHz of spectrum on schedule, and SES restated its focus on disciplined leverage reduction and future shareholder returns.
SES, a Luxembourg-based space solutions company, highlighted that the U.S. Federal Communications Commission has approved the Upper C-band Report & Order, making 160 megahertz of Upper C-band spectrum in the contiguous United States available for flexible-use, next-generation terrestrial wireless services via competitive bidding. The required auction will be completed no later than July 2027, with spectrum clearing deadlines in 2030 and 2031.
The Order provides for gross incentive payments of approximately $5.6 billion to SES, contingent on clearing the spectrum within the transition deadlines, and confirms reimbursement of reasonable and necessary Upper C-band transition costs as approved by the clearinghouse. SES management underscores its commitment to cooperate with the FCC and stakeholders while ensuring C-band customers continue to receive substantially the same service during the transition.
SES reported the results of its Extraordinary General Meeting of shareholders held in Betzdorf, Luxembourg. Shareholders followed the Board’s recommendations and approved all resolutions presented.
The meeting approved the cancellation of shares repurchased under the Company’s share buyback program launched on 2 November 2023 and amended on 2 May 2024, which reduces SES’s share capital. Shareholders also approved amendments to the articles of association, adding indemnification provisions for Board members and executives and updating rules for how shareholder meetings are conducted.
SES S.A. has called an Extraordinary General Meeting on 17 June 2026 to approve a significant capital and governance overhaul. The main proposal is to cut subscribed share capital from EUR 696,483,000 to EUR 651,572,220 by cancelling 35,928,624 shares previously repurchased under its buy-back programme, with no cash paid to shareholders because the shares are already held for the company. The meeting will also vote on adding indemnification protections for directors and executive committee members, clarifying the timing and venue of annual and other shareholder meetings, allowing hybrid (teleconference) meetings, tightening convening and disclosure requirements, and updating what shareholders and auditors must approve and report at annual meetings.
SES reported much larger Q1 2026 revenue of €847 million, up from €509 million, mainly reflecting the full consolidation of Intelsat and strong growth in its Networks activities. Adjusted EBITDA rose to €404 million from €280 million, but the Adjusted EBITDA margin eased to 47.7% from 55.1% as lower-margin equipment sales and mix effects diluted profitability.
On a reported basis, SES moved from a net profit of €29 million in Q1 2025 to a net loss of €16 million, while Adjusted Net Profit fell from €42 million to €14 million, driven by higher depreciation and amortisation and increased financing costs after the Intelsat acquisition. Networks revenue reached €556 million (66% of total), with Mobility up 207.8% year-on-year and Government up 50.7%.
Leverage increased, with Adjusted Net Debt to Adjusted EBITDA at 4.1x at 31 March 2026, compared with 1.2x a year earlier, supported by new hybrid securities and credit facilities. SES reiterated its 2026 outlook for stable revenue and Adjusted EBITDA and maintained a CapEx outlook of around €700 million, while continuing to invest in its next-generation meoSphere MEO network and upcoming satellite launches.
SES reported that shareholders at its Annual General Meeting approved all resolutions proposed by the board, including the 2025 annual accounts and the annual dividend. The dividend totals EUR 0.50 per A-share and EUR 0.20 per B-share, split between interim and final payments.
The interim dividend of EUR 0.25 per A-share and EUR 0.10 per B-share was paid on October 16, 2025, and the final dividend of the same amounts will be paid on April 16, 2026. Shareholders also set the Board of Directors at nine members, re-elected Frank Esser and Anne-Catherine Ries, and appointed Joseph Cohen for a three-year term, while confirming Esser as Chairperson and Ries and Peter van Bommel as Vice-Chairpersons.
SES, a Luxembourg-based satellite operator, filed its Form 20-F detailing a transformative year shaped by the acquisition of Intelsat. SES bought Intelsat for $2.6 billion (€2.2 billion), issued Contingent Value Rights linked to future C‑band monetization, and redeemed $3 billion of Intelsat first‑lien notes.
The combined fleet of nearly 120 GEO and MEO satellites now supports Networks and Media businesses generating €2,627 million of revenue in 2025, up from €2,001 million in 2024. SES outlines extensive risk factors around launch failures, satellite anomalies, regulation, sanctions, cyber threats, C‑band reallocation, CVR uncertainty, and competition from LEO constellations.
SES reports €146 million of net impairment charges in 2025 on orbital slot rights and space assets and discloses previously identified material weaknesses in internal control over financial reporting under U.S. rules, with IT control weaknesses remediated by year‑end and broader remediation efforts ongoing.