Gilat Satellite Networks Ltd. · NASDAQ:GILT
Gilat Satellite Networks — Investor Presentation (May 2023)
21 slides from Gilat Satellite Networks's investor presentation, May 2023
Slide 1: Gilat Satellite Networks Investors Presentation May 2023
GILAT SATELLITE NETWORKS Investors Presentation MAY 2023 1 | Proprietary and Confidential
Slide 2: Forward Looking Statements Disclaimer
FORWARD LOOKING STATEMENTS DISCLAIMER Certain statements made in this presentation that are not historical are forward-looking - within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are inte
Slide 3: A World Leader in Satellite Communications
A WORLD LEADER IN SATELLITE COMMUNICATIONS Cellular Backhaul Aero / IFC LEADER IN NGSO & VHTS 2G 3G 4G 5G SATELLITE NETWORKS Telecom infrastructure Maritime & services Government Land INNOVATIVE Enterprise Defense GROUND EQUIPMENT Consumer TECHNOLOGY ~1,000 Employees 1987 Founded 15 Sales Offices 6
Slide 4: Leading Global Customer Base
LEADING GLOBAL CUSTOMER BASE SATELLITE OPERATOR mPOWER SERVICE SERVICE PROVIDERS PROVIDERS & & MNO’s MNO’s 100+ COUNTRIES 300+ CUSTOMERS HUNDREDS OF NETWORKS SYSTEM INTEGRATORS 4 | Proprietary and Confidential
Slide 5: Value Chain
VALUE CHAIN SATELLITE MANUFACTURER SATELLITE OPERATOR GROUND EQUIPMENT SERVICE PROVIDER END USERS 5 | Proprietary and Confidential
Slide 6: Uniquely Positioned to Unlock Growth Opportunities
UNIQUELY POSITIONED TO UNLOCK GROWTH OPPORTUNITIES 1 VHTS & NGSO Constellations - Abundance of Capacity IFC, Maritime, Cellular Backhaul, Enterprise, Social Inclusion 2 Strong Tailwinds in Defense Increased focus on military SATCOM networks 3 Peru Terrestrial Networks "Investment" Shifting to Operat
Slide 7: VHTS/NGSO Constellations - Abundance of Capacity
VHTS/NGSO CONSTELLATIONS - ABUNDANCE OF CAPACITY LARGE CAPITAL SPENDING IN SATELLITE INDUSTRY Capacity Supply & Price 450,000 $300 400,000 $250 350,000 GEO 300,000 $200 35,786 km 250,000 $150 200,000 ~550msec ~ 150,000 $100 HTS/VHTS 100,000 ~50-500 ~ - Gbps $50 50,000 MEO 0 -$ -$ 2022 2023 2024 2025
Slide 8: SkyEdge IV – Industry Leading Ground Platform for VHTS & NGSO
SKYEDGE IV – INDUSTRY LEADING GROUND PLATFORM FOR VHTS & NGSO 88 || Proprietary Proprietary and and Confidential Confidential
Slide 9: Post COVID-19 IFC Rebound Includes Free WiFi Tailwind
POST COVID-19 IFC REBOUND INCLUDES FREE WIFI TAILWIND LONG TERM IFC INVESTMENT CYCLE 1 Aero Antennas 400Mbps Modem Superior Passenger Experience Transceivers Ground Equipment ENABLING LARGE IFC GLOBAL NETWORK Expanding Fleets GLOBAL COVERAGE | > 30 SATELLITES | COMMERCIAL AIRCRAFT BUSINESS JETS (Ka/
Slide 10: Maritime
MARITIME 1 ACTIVE VSAT TERMINALS 2021 2031 46,100 20,800 MERCHANT 2,350 710 PASSENGER 11,800 3,900 LEISURE 10,500 4,000 FISHING Euroconsult Euroconsult 2022 10 || Proprietary 10 Proprietary and and Confidential Confidential
Slide 11: 4G/5G Ubiquitous Connectivity Bridging the Digital Divide
4G/5G UBIQUITOUS CONNECTIVITY BRIDGING THE DIGITAL DIVIDE 1 OF SATELLITE BACKHAUL 4G/LTE MARKET SHARE NSR & GILAT ESTIMATION, ESTIMATION, 2022 GILAT CONTINUES TO LEAD IN SHIPMENTS WITH BIG WINS AND BUSINESS EXPANSIONS WORLDWIDE EQUIPMENT CAPACITY, SERVICE & EQUIPMENT ~$440M ~$6.4B (2031) (2031) ~CAG
Slide 12: 4G/5G Ubiquitous Connectivity Bridging the Digital Divide
4G/5G UBIQUITOUS CONNECTIVITY BRIDGING THE DIGITAL DIVIDE 5G TOTAL ADDRESSABLE MARKET EXPANDING DRAMATICALLY 1 HIGH SPEED Speeds Innovative >1Gbps Wideband Technology FLEXIBLE Satellite Ground Utilize SDN/NFV, NETWORK Segment Integration Cloud, Edge Computing Global Global CPE CPE Revenues Revenues
Slide 13: Strong Tailwinds in Defense
STRONG TAILWINDS IN DEFENSE INCREASED FOCUS ON MILITARY SATCOM NETWORKS 2 Transportable Satcom Network GOVERNMENT Military Aircraft & MILITARY SATELLITE Unmanned Aerial Vehicle COMMUNICATIONS Total addressable Market ~$1B On-the-Move On-the-Pause HIGH-BANDWIDTH REQUIRED IN BATTLEFIELD 13 || Propriet
Slide 14: Strong Tailwinds in Defense: Acquisition of DataPath Inc.
STRONG TAILWINDS IN DEFENSE ACQUISITION OF DATAPATH INC. 2 DataPath is a market leader in trusted communications for the US DoD Military and DataPath is a market leader in trusted communications for the US DoD Military and Government sectors, generating annual revenues of ~$50M Government sectors, g
Slide 15: Peru Terrestrial Networks Investment Shifting to Operations
PERU TERRESTRIAL NETWORKS "INVESTMENT" SHIFTING TO OPERATIONS RECURRING REVENUE MODEL 3 Annual recurring revenues >$50M Pronatel Terrestrial Projects Six regions awarded to Gilat (~$550M) • ~$350M Construction revenue - 95% recognized by March 31, 2023 • ~$200M Operation revenue over ten years • Fou
Slide 16: Financial Indicators Highlights
FINANCIAL INDICATORS HIGHLIGHTS 16 || Proprietary 16 Proprietary and and Confidential Confidential
Slide 17: Q1 2023 Profit and Loss Highlights
Q1 2023 PROFIT AND LOSS HIGHLIGHTS US$ MILLIONS Q1/23 Q4/22 Q3/22 Q2/22 Q1/22 Revenue 59.0 72.6 60.4 55.5 51.4 Gross Margin 42% 38% 38% 36% 32% Operating Expenses 17.7 21.6 17.4 GAAP 19.6 18.3 Operating Income / (Loss) 7.0 6.1 3.4 1.5 (1.0) Net Income / (Loss) 5.6 (6.0) 2.1 0.5 (2.5) Adj. EBITDA 8.4
Slide 18: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS US$ MILLIONS Q1/23 Q4/22 Q3/22 Q2/22 Q1/22 Cash1 89.7 87.1 69.9 71.5 77.3 DSO2 77 72 89 95 93 Cash from operations 6.2 16.8 4.7 (3.3) (7.4) Equity 250.0 244.1 248.6 245.7 246.9 1) Cash includes Cash and cash equivalents, short-term deposits and restricted cash 2) DSO calcula
Slide 19: Executing Profitable Growth Strategy
EXECUTING PROFITABLE GROWTH STRATEGY Updated 2023 Market Guidelines (US$ millions) Annual Revenues Adjusted EBITDA GAAP Operating Income 13% 31% 81% Revenues: $260M - $280M GAAP Operating Income: $16M - $20M Adjusted EBITDA: $31M - $35M 19 || Proprietary 19 Proprietary and and Confidential Confident
Slide 20: Summary: Uniquely Positioned to Unlock Growth Opportunities
SUMMARY UNIQUELY POSITIONED TO UNLOCK GROWTH OPPORTUNITIES VHTS and NGSO Opening New Markets SkyEdge IV is a leading VHTS and NGSO Platform Leading in Main Growth Areas – Cellular Backhaul (4G, 5G) & In-Flight Connectivity Increased Focus on Military SATCOM Networks Focused on Profitable Growth 20 |
Slide 21: Thank You
THAN ANK THANKK YOU YOU Gilat Satellite Gilat Sat Satel elllite Net Netwwor orkks | iinfo@gilat.com Networks nfo@ nf o@gi gillat at..com | www.gi gillat at..com www.gilat.com
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