Slide 1: Yahsat 1Q 2022 Results Presentation
Yahsat 1Q 2022 Results Presentation May 11, 2022 yahsat.com
Slide 2: Disclaimer
Disclaimer The information contained in this presentation represents a summary of the condensed consolidated financial statements for the 3 months ended 31 March 2022 (the Q1 Financial Statements) of Al Yah Satellite Communications Company PJSC and its subsidiaries (Yahsat). This presentation does n
Slide 3: Presenters
Presenters Ali Al Hashemi Andrew Cole Chief Executive Officer Chief Financial Officer Amit Somani Layla Al Hayyas Chief Strategy Officer Head of Investor Relations Smart satellite solutions
Slide 4: Agenda
1 Key Highlights and Strategy Update Agenda 2 1Q 2022 Financial Overview 3 Discussion and Closing Remarks Smart satellite solutions
Slide 5: Key Highlights and Strategy Update
1 Key Highlights and Strategy Update Ali Al Hashemi, CEO Smart satellite solutions
Slide 6: Positive Momentum Continues in 1Q22
Positive Momentum Continues in 1Q22 Strong Contracted Future Robust Confident financial Revenue exceeds cashflow on growth performance USD 2.2 billion generation outlook Revenue up 9.4% year- Up 8.6% since start of USD 90.7 million On track to meet 2022 on-year 2022 and > 47% since 1 Discretionary f
Slide 7: Good Operational Performance
Good Operational Performance Awarded 5-year managed Launched IP-based radio $247.5m Growth in consumer services mandate with UAE comms solution Thuraya Contracted subscriber base over +25% Gov’t revenue Push-to-Talk (PTT). the last 12 months Managed Solutions Partnered with Philippines’ Strong year-
Slide 8: Delivering Our Strategy
Delivering Our Strategy Diversify and expand Invest and partner to Expand core Strengthen position commercial business diversify and grow government as the UAE’s flagship business satellite operator Further diversified across markets and Strengthened our Government industries: marine, military, rela
Slide 9: 1Q 2022 Financial Overview
2 1Q 2022 Financial Overview Andrew Cole, CFO Smart satellite solutions
Slide 10: 1Q 2022 Financial Highlights
1Q 2022 Financial Highlights Excellent start to 2022 with stellar revenue growth 1Q22 revenue of USD 98.7 million, up 9.4% vs. 1Q 2021 Especially strong performance in Managed Solutions and Mobility Managed Solutions and Mobility Solutions revenues up y-o-y by 26.0% and Solutions 45.4% respectiv
Slide 11: 1Q 2022 Financial Highlights
1Q 2022 Financial Highlights Financial Extracts (USDm) 1Q22 1Q21 YoY% • 1Q22 revenue up 9.4% vs. prior year, continuing strong momentum from 4Q21 Revenue 98.7 90.2 9.4% Cost of Revenue (10.1) (4.9) -104.8% • 1Q22 Adjusted EBITDA up 6.8% vs. prior year period Staff costs (21.1) (20.0) -5.3% Other ope
Slide 12: Financial Performance
Financial Performance Revenue by Operating Segment Adjusted EBITDA by Operating Segment 9.4% 1Q 2022 1Q 2022 +6.8% 98.7 -0.5% 5.7 90.2 5.8% 58.1 5.5 54.4 10.1% 18.5 12.7 18.7% 5.9 4.5 6.3 4.3 10.8% 15.2 12.1 60.1% 15.4% 46.2 46.2 59.3 60.0 79.6% -0.3 -0.6 1Q 2022 1Q 2021 1 1Q 2022 1Q 22021 58.9% 60.
Slide 13: Operating Segment Performance
Operating Segment Performance Infrastructure Managed Solutions Revenue Adjusted EBITDA Revenue Adjusted EBITDA -1.1% +0.1% 59.3 60.0 +26.0% 46.2 46.2 +47.1% 15.2 12.1 6.3 4.3 1Q 2022 1Q 2021 1Q 2022 1Q 2021 1Q 2022 1Q 2021 1Q 2022 1Q 2021 • Revenue broadly stable with slight decline due to reallocat
Slide 14: Operating Segment Performance
Operating Segment Performance Mobility Solutions Data Solutions Revenue Adjusted EBITDA Revenue Adjusted EBITDA +45.4% +54.3% 18.5 +4.4% +29.5% 5.7 12.7 5.5 -0.3 -0.6 5.9 4.5 1Q 2022 1Q 2021 1Q 2022 1Q 2021 1Q 2022 1Q 2021 1Q 2022 1Q 2021 • Very strong start to 2022 following a stellar performance i
Slide 15: Contracted Future Revenue
Contracted Future Revenue Almost 90% of remaining projected revenue for 2022 (based on low end of guidance) are secured as at 31 March 2022 All financial figures are in USD million Contracted Future Roll out over next 5 years Revenue Was 5x annual Now 5.4x annual revenue revenue 349.2 80.7 2,203.0 3
Slide 16: Balance Sheet
Balance Sheet Balance Sheet 31 Mar 2022 31 Dec 2021 • Yahsat continues to maintain a strong and stable Balance Sheet Fixed assets (satellite, ground systems and infrastructure, 872.3 904.4 • T4-NGS project milestone payments are capitalized as buildings) incurred contributing to an increase in capit
Slide 17: Cash Flow Underpins Dividend Policy
Cash Flow Underpins Dividend Policy Operating Cash Flow conversion Efficient business model enabling strong cash generation 1Q 2022 1Q 2021 Adjusted EBITDA 58.1 54.4 o Robust and attractive Adjusted EBITDA margins (-) Purchase of PPE (excl. capital WIP) (1.0) (1.6) o Low levels of maintenance CapEx
Slide 18: Dividend Policy
Dividend Policy • Final FY21 dividend payment of AED 192.7 2021 Final 2022 Interim million equal to 7.90 Fils per share paid on 9 May 2022 Expected Payment 9 May 2022 October 2022 • Shareholders approved updated Dividend Policy, allowing payment of semi-annual Dividend USD 52.5m AED 192.7m USD 53.5m
Slide 19: FY2022 Guidance
FY2022 Guidance GUIDANCE 2022 • Based on excellent 1Q22 performance Yahsat remains well on track to meet its 2022 Full Year Guidance Revenue USD 415 - 440 million • Almost 90% of remaining projected revenue for 2022 are already contracted (based on low end of revenue guidance) Adjusted EBITDA Stable
Slide 20: Discussion and Closing Remarks
3 Discussion and Closing Remarks Smart satellite solutions
Slide 21: Closing Remarks
Closing Remarks Strong start to the year, Good trajectory for solid Signed new partnerships with key Supported diversification continuing momentum performance going into national stakeholders adding to of customer base and seen in 4Q21 2022 contracted future revenue backlog offerings Laying new foun
Slide 22: Appendix
K yahsat wlwollll Appendix
Slide 23: Alternative Performance Measures
Alternative Performance Measures Yahsat regularly uses alternative performance measures which are relevant to enhance the understanding of the financial performance and financial position of the Group. These measures may not be comparable to similar measures used by other companies; they are neither
Slide 24: Who We Are
Who We Are 8th Preferred partner 150+ 1 billion largest satellite operator for satellite solutions to the countries covered by Yahsat people within in terms of revenue UAE Government and Thuraya satellites broadband coverage 4 billion No. 1 100+ million 50% people within satellite broadband viewers
Slide 25: Yahsat's journey to date
Yahsat’s journey to date UAE Armed Forces (UAEAF) signed as YahClick launched for broadband JV with Hughes (HPE) for Successfully Yahsat’s anchor customer across MEA and West Asia Brazil using AY3 listed in ADX 2008 2013 2019 2021 AY3 launched, expanding YahClick further (Africa and Brazil) Majority
Slide 26: Diversified Narrow and Wideband Frequency Portfolio
Diversified Narrow and Wideband Frequency Portfolio MSS FSS L S C X Ku Ka Frequencies 1GHz – 2GHz 2GHz – 4GHz 4GHz – 8GHz 8GHz – 12GHz 12 GHz – 18GHz 27GHz – 40GHz Business Line NA NA Government and Video Military solutions Video Secure government military mobility and military capacity and solution
Slide 27: Fleet and Coverage - Overview
Fleet and Coverage - Overview * FSS Satellite ** MSS Satellite Al Yah 3 (AY3*) Thuraya-2** 2018-2033* 2003-2026 Al Yah 2 (AY2*) Ka L Thuraya-3** 2012-2030 2008-2031 Ka L Al Yah 1 (AY1*) 2011 - 2029 Ka,C and Ku Al Yah 1 & Al Yah 2 Gov. Coverage Luxembourg Thuraya 4-NGS** 2023-2039 Greece L Al Yah 2 K