Altice Europe — Altice International — Q4 2020 Earnings Presentation
18 slides from Altice Europe's earnings presentation, Mar 30, 2021
Slide 1: Altice International Q4 2020 Results
Altice International Q4 2020 Results March 30, 2021
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitatio
Slide 3: Q4 2020 Summary
Q4 2020 Summary Subscriber net additions across all geographies and all segments Total revenue and total EBITDA growth in Q4 2020: • Total revenue grew by +5.8% YoY on a constant currency basis (+2.1% reported) • Total EBITDA grew by +12.8% YoY on a constant currency basis (9.2% reported), with EBIT
Slide 4: MEO Commercial Performance
MEO Commercial Performance Residential fixed net adds Residential postpaid mobile net adds (‘000) (‘000) +10 +42 +35 +32 +7 +7 +5 +22 +17 +2 +35 +34 +29 +42 +37 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Total Fibre Base: 1.6m (+2% YoY) Base: 3.2m (+3% YoY) of which 67% fibre For fo
Slide 5: HOT Commercial Performance
HOT Commercial Performance Residential fixed net adds Residential postpaid mobile net adds (‘000) (‘000) +14 +8 +7 +7 +5 +5 +2 +2 +2 +1 +7 +14 +7 +8 +2 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Total Fibre Base: 1.0m (+3% YoY) Base: 1.2m (+1% YoY) 5
Slide 6: Altice Dominicana Commercial Performance
Altice Dominicana Commercial Performance Residential fixed net adds Residential postpaid mobile net adds (‘000) (‘000) +10 +17 +16 +4 +3 +2 +1 -1 -7 +2 +2 +2 +0 +4 -10 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Total Fibre Base: 0.3m (+5% YoY) Base: 0.6m (+0.1% YoY) of which 58% fib
Slide 7: Teads Offers a Powerful Combination of Growth & Profitability
Teads Offers a Powerful Combination of Growth & Profitability Massive, growing total addressable market Adjusted EBITDA Massive market opportunity with open-ended growth runway fuelled by (€m) 156 focus on the curated internet 83 Premium position in ecosystem 60 44 Unique premium position, conne
Slide 8: Altice International Revenue Trends
Altice International Revenue Trends Total Total ex roaming Components of Q4 2020 revenue trends YoY (€m) +2.1% (CC +5.8%) (€m) • Total ex roaming: +2.7% (CC +6.4%) +2.7% (CC +6.4%) 1,120 1,108 • Portugal: +3.5% 1,097 1,078 • Israel: -1.3% (CC +1.3%) 162 197 162 197 • Dominican Republic: -14.7% (CC +
Slide 9: Altice International Financials
Altice International Financials Growth YoY Growth YoY Growth YoY Growth YoY Q4-19 Q4-20 FY-19 FY-20 Reported Constant FX Reported Constant FX €m Portugal 543 558 +2.7% +2.7% 2,110 2,121 +0.5% +0.5% Israel 250 245 -1.8% +0.7% 962 980 +1.9% +0.2% Dominican Republic 141 120 -14.9% +1.5% 561 490 -12.7%
Slide 10: Q4 2020 Free Cash Flow
Q4 2020 Free Cash Flow (€m) 431 (224) 208 (18) (33) (33) (596) (71) 53 Adjusted Accrued OpFCF Interest Pensions Taxes Change in WC FCF EBITDA Capex & other For footnotes see slide 18 10
Slide 11: Capital Structure and Debt Maturity
Capital Structure and Debt Maturity Altice International Restricted Group (€bn) Net debt €6,687m 0.00 0.02 0.02 0.02 0.02 1.35 3.11 0.00 2.85 WAL 5.8 years WACD 4.1% Fixed interest 89% Net leverage 4.0x Liquidity €1.3bn Altice International Unsecured Gross debt €675m WAL 7.0 years WACD 4.8% Fixed in
Slide 12: FY 2020 Achievements and Guidance
FY 2020 Achievements and Guidance • Total revenue growth of +1.1% YoY on a constant currency basis (-0.3% reported) 2020 achievements • Total EBITDA growth of +3.6% YoY on a constant currency basis (+2.0% reported) • Ending net leverage of 4.0x on a pro forma basis (actual net leverage 4.3x) •
Slide 13: Q&A
Q&A 13 alti
Slide 14: Appendix
Appendix 14
Slide 15: Pro Forma Reconciliation to Swap Adjusted Debt
Pro Forma Reconciliation to Swap Adjusted Debt €m Altice International As of December 31, 2020 Total Debenture and Loans from Financial Institutions 7,065 Value of debenture and loans from financial Institutions in foreign currency converted at closing FX rate -7,925 Value of debenture and loans fro
Slide 16: Pro Forma Net Leverage Reconciliation
Pro Forma Net Leverage Reconciliation €m Altice International As of December 31, 2020 Gross Debt Consolidated 7,416 Cash -729 Net Debt Consolidated 6,687 LTM Standalone 1,582 Corporate Costs -2 Eliminations -1 LTM EBITDA Consolidated 1,580 LTM EBITDA Consolidated 1,580 Gross Leverage (LTM EBITDA) 4.
Slide 17: Non-GAAP Reconciliation to Unaudited GAAP Measures
Non-GAAP Reconciliation to Unaudited GAAP Measures €m Altice International For the twelve months ended December 31, 2020 Revenue 4,065 Purchasing and subcontracting costs -1,009 Other operating expenses -869 Staff costs and employee benefits -477 Total 1,710 Share-based expense 1 Rental expense oper
Slide 18: Footnotes
Footnotes €1.3 billion liquidity includes €0.5 billion of undrawn revolvers and €0.7 billion of cash. €0.7 billion of cash includes the €375 million earn-out to be Pages 3, 11 received in December 2021 (not including the €375 million earn-out to be received in December 2026) related to the FastFiber