Atn International, Inc. · NASDAQ:ATNI
Atn International — Q1 2023 Earnings Presentation
26 slides from Atn International's earnings presentation, Apr 27, 2023
Slide 1: Investor Presentation First Quarter 2023
Investor Presentation Nasdaq: ATNI First Quarter 2023
Slide 2: Our mission is to digitally empower people and communities
Our mission is to digitally empower people and communities so that they can connect with the world and prosper
Slide 3: CEO message: three key takeaways from Q1 performance
“At ATN our central purpose is to provide connectivity for all. In doing so, we improve lives and communities and deliver lasting value for all of our stakeholders. Three key takeaways from our Q1 performance: - First, our strategy is working and is driving growth in subscribers and footprint, or ad
Slide 4: Key Highlights in Q1 2023: Footprint Expansion
Key Highlights in Q1 2023: Footprint Expansion Glass and SteelTM and “First-to-Fiber” Growth Strategies Showing Results » Grew broadband homes passed by 21% YoY to more than 736,000. » Broadband customers rose 6% YoY to over 216,000. » +55% of broadband customers are now HSD broadband customers. Mob
Slide 5: Q1 2023 Operational Metrics
Q1 2023 Operational Metrics Key Performance Indicators Continue to Improve Broadband Fiber Route Miles Broadband Homes Customers International Mobile Passed 216,900 Subscribers +11,000 736,300 HSD Customers 385,400 119,800 Notes • Data presented may differ from prior reported quarter to reflect more
Slide 6: Q1 2023 Results: Total Revenues up 8% and Adjusted EBITDA up 6% YoY
Q1 2023 Results: Total Revenues up 8% and Adjusted EBITDA1 up 6% YoY Growth Drivers: Progression of “Glass and Steel” and “First to Fiber” buildout strategies; growth of consumer and business broadband subscribers as well as mobile subscribers. Revenue by Segment International Telecom: $90M US Telec
Slide 7: Q1 2023 Revenue, Operating Income, EBITDA, & Adjusted EBITDA
Q1 2023 Revenue, Operating Income, EBITDA2, & Adjusted EBITDA1 Total consolidated revenues $186M; Operating Income $0.6M; EBITDA1 $40M; Adjusted EBITDA2 $45M (Figures shown in millions) Revenue Operating Income EBITDA2 Adjusted EBITDA1 8% $186 $172 10% 6% $40 $42 $45 $37 500% $0 $1 Q1 2022 Q1 2023 Q
Slide 8: Q1 2023 Revenue & Adjusted EBITDA by Segment
Q1 2023 Revenue & Adjusted EBITDA1 by Segment in millions US Telecom International Telecom Revenue Adjusted EBITDA1 Revenue Adjusted EBITDA1 12% $95 4% $90 $85 $87 5% $27 $28 16% $23 $20 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 Q1 2022 Q1 2023 8
Slide 9: Strong Balance Sheet and Fiber-driven Growth Capex
Strong Balance Sheet and Fiber-driven Growth Capex $61M $88M $51M Cash Position Undrawn Revolver Capacity Q1 ‘23 Capex $465M Net Debt Ratio - 2.3x Debt Position • As of March 31, 2023 • Debt position and Net Debt Ratio excludes customer receivable credit facility. • See footnotes in appendix for add
Slide 10: Reiterating 2023 and 3-Year Outlook
Reiterating 2023 and 3-Year Outlook 2023 Guidance* » Adjusted EBITDA1 expected to be in the range of $183-$193 million for the full year with more of the growth coming in the second half of the year. » CapEx expected between $160-$170 million for the full year, primarily in network expansion and upg
Slide 11: Investment Summary
Investment Summary Our differentiated and compelling business model drives reliable financial results and lasting performance. Compelling Business Model Lasting Financial Performance i. Macro Trends Fueling Connectivity Demand High Recurring Revenues ii. Focused Market Strategy Durable Cash Flow
Slide 12: High-Level Overview
ATN international High-Level Overview ATN iter
Slide 13: Providing Access to Opportunity and the Global Marketplace
Providing Access to Opportunity and the Global Marketplace United States: United States: International: Alaska Southwest Bermuda & Caribbean Providing high-speed data Bringing fiber into poorly Rapidly deploying fiber and services to schools and served communities, both other high-speed soluti
Slide 14: Proven Playbook & Focused Market Strategy
Proven Playbook & Focused Market Strategy “Right-Time” Entry » Enter under-built or under-served markets early in their growth cycles. First-Mover Advantage » Establish strong footholds, lasting customer relationships, and cutting-edge network infrastructure in our target markets. Streamlined Operat
Slide 15: Our vision: social and economic prosperity through digital connectivity
Our vision is to bring social and economic prosperity by providing people and communities with the best digital connectivity the world has to offer.
Slide 16: Thank You
Thank You IR Website: ir.atni.com IR Email: ir@atni.com 17
Slide 17: Appendix
Appendix 1818
Slide 18: Cautionary Language Concerning Forward-Looking Statements
Cautionary Language Concerning Forward-Looking Statements This presentation and our press release contain forward-looking statements relating to, among other matters, the Company’s future financial performance, business goals and objectives, and results of operations, expectations regarding the tran
Slide 19: Non-GAAP Financial Information
Non-GAAP Financial Information In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this press release also contains non-GAAP financial measures. Specifically, the Company has included EBITDA, Adjusted EBITDA, Net Debt and Net Debt Ratio in t
Slide 20: Footnotes
Footnotes 1. See Table 5 for reconciliation of Operating Income to Adjusted EBITDA, a non-GAAP measure. 2. See Table 5 for reconciliation of Operating Income to EBITDA, a non-GAAP measure. 3. For the Company’s three-year outlook for Adjusted EBITDA, Net Debt and Net Debt Ratio, the Company is not ab
Slide 21: Operating Results (in Thousands)
Operating Results (in Thousands) For Three Months Ended March 31, 2023 and 2022 2023 2022 2023 2022 2023 2022 2023 2022 International International US US Total Total Telecom Telecom Telecom Telecom All Other* All Other* ATN ATN Total Revenue: $ 90,408 $ 86,787 $ 95,366 $ 85,232 $ - $ - $ 185,774 $ 1
Slide 22: Operating Metrics
Operating Metrics Operating Metrics 2023 2022 2022 2022 2022 Q1 2023 Q1 Q4 Q3 Q2 Q1 vs. Q1 2022 Broadband Homes Passed 736,300 728,900 613,600 614,200 610,100 21% Broadband Homes Passed by HSD* 301,600 275,100 219,300 199,800 193,300 56% Broadband Customers 216,900 210,300 205,200 204,500 204,000 6%
Slide 23: Table 1 Unaudited Condensed Consolidated Balance Sheets
Table 1 Table 2 ATN International, Inc. ATN International, Inc. Unaudited Condensed Consolidated Balance Sheets Unaudited Condensed Consolidated Statem ents of Operations (in Thousands) (in Thousands, Except per Share Data) Three Months Ended, March 31, December 31, March 31, 2023 2022 Assets: 2023
Slide 24: Cash Flow Statements and Selected Segment Financial Information
Table 4 Table 3 ATN International, Inc. ATN International, Inc. Unaudited Condensed Consolidated Cash Flow Statements Selected Segment Financial Information (in Thousands) (In Thousands) For the three months ended March 31, 2023 is as follows: Three Months Ended March 31, 2023 2022 International Cor
Slide 25: Table 5 Reconciliation of Non-GAAP Measures
Table 4 (continued) ATN International, Inc. Table 5 Selected Segment Financial Information ATN International, Inc. (In Thousands) Reconciliation of Non-GAAP Measures For the three months ended March 31, 2022 is as follows: (In Thousands) International Corporate and For the three months ended March 3
Slide 26: Non GAAP Measure - Net Debt Ratio
ATNinternational, Inc. Non GAAP Measure - Net Debt Ratio (in Thousands) Current portion of long-term debt * Long-term debt, net of current portion * Total debt Less: Cash, cash equivalents and restricted cash Net Debt Adjusted EBITDA- for the four quarters ended Net Debt Ratio * Excludes Customer re