SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — Q1 2007 Earnings Presentation
15 slides from SES SA FDR (Class A)'s earnings presentation, May 2, 2007
Slide 1: Consolidated Results - Q1 2007
Consolidated Results - Q1 2007 2 May 2007 1
Slide 2: Disclaimer
Disclaimer S This presentation does not constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, any securities of SES nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment what
Slide 3: Q1 2007 in brief
Q1 2007 in brief S A very good start to the year S Revenue increased 21% to EUR 399.5 million ¾ Recurring revenue was up 6.2% over the prior year period S EBITDA rose 21% to EUR 275.2 million S Operating Profit grew 9% to EUR 137.9 million ¾ increasing by 22% before the non-recurring EUR 15.9 millio
Slide 4: More value delivered
More value delivered S Healthy development of transponder demand across our markets ¾ HDTV, standard definition video ¾ government services S Third orbital position (23.5 East) developed to satisfy demand in Europe S GE share overhang resolved S 100% control of group fleet enables more effective com
Slide 5: Business Developments
Business Developments S CANAL+ contract signed ¾ Transmission of full French Pay-TV offer on ASTRA ¾ Present capacity of 15 transponders to grow by a further 5 before end 2008 S NSS-8 launch failure impact mitigated by early procurement of replacement satellite NSS-8R S IP-PRIME commercial activitie
Slide 6: Segment Organisation
Segment Organisation S Group activities are now commercialised via the three operating companies and results reported accordingly, as from 1 January 2007 S Certain assets are now commercialised by SES NEW SKIES: ¾ AMC-12 (38 trps) / ASTRA 4A (34 trps) *); renamed NSS-10 ¾ AAP-1 (28 trps); renamed NS
Slide 7: Launch schedule / Incremental txp's
Launch schedule / Incremental txp’s ASTRA Satellites Launch Date Incremental txp's ASTRA 1L May 2007 UK / IRL 10 - 16, Africa 8 Sirius-4 Q3 2007 Europe 7, Africa 6 ASTRA 1M Q2 2008 ASTRA 3B Q4 2009 Europe 20, Middle East 12 AMERICOM Satellites Launch Date AMC-18 8-Dec-06 24 AMC-14 Q4 2007 32 Ciel-2
Slide 8: Financials
Financials SESA ;
Slide 9: Revenues – Q1 2007
Revenues – Q1 2007 organic revenue growth EUR million 21.3% 6.2% vs Q1 ‘06 396 399 373 329 23 3 (2) (16) 62 Q1 2006 (as Non-recurring Constant FX Scope change Q1 2006 Organic growth Q1 2007 Non-recurring Q1 2007 (as reported) 2006 (New Skies & ND (recurring, same (recurring) 2007 reported) Satcom) s
Slide 10: EBITDA – Q1 2007
EBITDA – Q1 2007 organic EBITDA EUR million growth 21.1% 8.4% vs Q1 ‘06 278 275 256 227 (3) 22 5 (10) 34 Q1 2006 (as Non-recurring / Constant FX Scope change Q1 2006 Organic growth Q1 2007 Non-recurring / Q1 2007 (as reported) Normalised 2006 (New Skies & ND (recurring, same (recurring) Normalised 2
Slide 11: Business segmentation – Q1 2007
Business segmentation – Q1 2007 Q1 07 Infrastructure ASTRA AMERICOM NEW SKIES OTHER & ELIM Total EUR million Revenues 195.6 89.2 61.0 (1.3) 344.5 EBITDA 162.3 69.2 45.8 0.0 277.3 Margin % 83.0% 77.6% 75.1% 0.0% 80.5% Q1 07 Services Project ASTRA AMERICOM NEW SKIES OTHER & ELIM Sub-Total start-up Tot
Slide 12: Capital Expenditure schedule
Capital Expenditure schedule EUR million 365 ~ 580 ~ 540 ~ 280 ~ 30 Guidance in Feb 2007: ~ 504 ~ 448 ~ 160 N.A. 252 227 213 201 185 136 149 139 112 85 58 2 12 - 15 Actual 2006 Trend 2007 Trend 2008 Trend 2009 Trend 2010 Astra Americom New Skies Related working capital movements *): (51) (22) 0 0 0
Slide 13: Appendices
Appendices SESA ::
Slide 14: Revenue and EBITDA ranges - 2007
Un Revenue and EBITDA ranges - 2007 ch an ge d! 2007 Analyst guidance * ) EUR million 6 November 2006 14 February 2007 Update for recent 1 EUR = 1.27 USD 1 EUR = 1.30 USD events 1) 2007 Total - Revenues 1660 - 1700 1644 - 1684 (76) 1568 - 1608 - EBITDA 1100 - 1140 1089 - 1129 (48) 1041 - 1081 Infras
Slide 15: EBITDA margin – Q1 2007
EBITDA margin – Q1 2007 Q1 EUR million Revenue - as reported 399.5 OpEx - as reported 124.3 EBITDA - as reported 275.2 EBITDA margin 68.9% Non recurring revenue 2.7 Recurring Revenue 396.7 Non recurring costs Share option accounting (0.7) Adjusted EBITDA I 273.2 Adjusted EBITDA margin I 68.9% entavi