Sats Ltd · SGX:S58
Sats — Merger or Acquisition (January 2023)
15 slides from Sats's merger presentation, Jan 18, 2023
Slide 1: Accelerating Profitable Growth
<Public> Accelerating Profitable Growth 18 January 2023 <Public>
Slide 2: Forward Looking Statement – Important Note
<Public> Forward Looking Statement – Important Note The following presentation contains forward-looking statements by the management of SATS Ltd. (“SATS”), relating to financial and market trends for future periods. Some of the statements contained in this presentation that are not historical facts
Slide 3: SATS Twin-engine Growth Strategy
<Public> SATS Twin-engine Growth Strategy Strengthening our core Singapore base while pursuing leadership in the resilient cargo segment with global reach Continued market leadership in Expand CTO network and grow value add Singapore further tapping into growth as it offerings for specialised handli
Slide 4: Transaction Overview
<Public> Transaction Overview 100% Acquisition of Acquisition Cost of Worldwide Flight Services (WFS) S$1,820M 4 <Public>
Slide 5: Transforming SATS Into a Leading Global Air Cargo Handler
<Public> Transforming SATS Into a Leading Global Air Cargo Handler Creating a pre-eminent Driving change and innovation global air cargo across a larger network with handling platform combined insights and capabilities Harnessing synergistic Reinforcing earnings opportunities with an expected resili
Slide 6: WFS is Market Leader in Air Cargo Handling
<Public> WFS is Market Leader in Air Cargo Handling Global aviation services Holistic suite of Diversified company mainly focused aviation service blue-chip on cargo handling offerings customer base Over 7.1M metric tons Strategic focus on cargo Approximately 300 customers of cargo handled in 2021 s
Slide 7: WFS 9M 2022 Highlights
<Public> WFS 9M 2022 Highlights Long-term Ground and structural Ancillary growth in Cargo recovering well revenue New contract Continued investment wins and new in operational capacity excellence accelerating underpinned by growth technology 7 7 <Public>
Slide 8: Proven Business Resilience Despite Headwinds
<Public> Proven Business Resilience Despite Headwinds Pro Forma 1,829 1,928 1,582 1,707 Revenue 1,326 1,446 1,216 (EUR in Million) (1) LTM Mar21 LTM Jun21 LTM Sep21 LTM Dec21 LTM Mar22 LTM Jun22 LTM Sep22 Margin% 11.2% 11.1% 10.9% 10.5% 9.3% 10.1% Pro Forma 6.8% 189 200 203 Adj. 177 147 EBITDA 123 (
Slide 9: Transforming SATS into a Leading Global Air Cargo Handler
<Public> Transforming SATS into a Leading Global Air Cargo Handler <Public>
Slide 10: Creating a Pre-eminent Global Air Cargo Handling Platform
<Public> Creating a Pre-eminent Global Air Cargo Handling Platform 10 <Public>
Slide 11: Why Now? Strategic Fit for Profitable Growth
<Public> Why Now? Strategic Fit for Profitable Growth One-of-a-kind asset with highly complementary network Increased end-to-end value to customers across global trade flows Scale and capabilities to drive operational excellence through process standardisation and data proficiency 11 <Public>
Slide 12: Potential Run-rate EBITDA Synergies in Excess of S$100M
<Public> Potential Run-rate EBITDA Synergies in Excess of S$100M Increasing End-to-end Global eCommerce Accelerate Cargo Reinforce Customer Flows Solutions Cargo Partnerships Automation Downstream Cargo Logistics Opportunities to identify A global network that Leverage WFS A larger combined Establis
Slide 13: Pro Forma Financials Before/After SFRS(I) Adjustments
<Public> Pro Forma Financials Before/After SFRS(I) Adjustments SATS (FY22) SATS + WFS Pro Forma(1) FY22 Impact(2) Standalone Before SFRS(I) After SFRS(I) adjustments adjustments (1) Excluding impact of potential synergies 3.8 3.6 Revenue 1.2 +2.0x S$B 697 445 EBITDA 94 +6.4x S$M Ex. Amortisation of
Slide 14: Balanced Funding Plan
<Public> Balanced Funding Plan Internal Cash Proposed Rights Issue Up to approximately S$320M S$800M S$1,820M Indicative Timeline (2023) Term Loan 18 Jan 2023 Feb Mar Mar/Apr Approximately SATS EGM Clearance of Launch of Completion of S$700M antitrust and FDI filings Proposed Rights Issue Acquisitio
Slide 15: Shareholder Support
<Public> Shareholder Support 1. ORDINARY RESOLUTION – THE PROPOSED ACQUISITION The Proposed Acquisition by SATS International, an indirect wholly- owned subsidiary of SATS, of all the issued and paid-up share capital of Promontoria Holding 243 B.V. from each of the Sellers. ✓ SATS Board of Directors