Altice Europe — Altice International — Q2 2025 Earnings Presentation
14 slides from Altice Europe's earnings presentation, Aug 28, 2025
Slide 1: Altice International Q2 2025 results
Altice International Q2 2025 results August 28, 2025
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: Q2 2025 Summary
Q2 2025 Summary Altice International pro forma key financial trends in Q2 2025: • Total revenue of €1,066 million, grew by +2.3% YoY on a constant currency basis (+1.1% reported) • Total EBITDA of €391 million, declined by -2.5% YoY on a constant currency basis (-3.9% reported) • Total OpFCF of €201
Slide 4: Altice International Pro Forma Revenue Trends
Altice International Pro Forma Revenue Trends Q2 2025 revenue trends YoY +1.1% (CC +2.3%) (€m) • Total: +1.1% (CC +2.3%) • Portugal: +4.6% 1,054 1,066 • Israel: -0.7% (CC +0.7%) 141 129 • Dominican Republic: -8.3% (CC -2.2%) 253 251 Revenue trends YoY (CC) +7.8% +7.0% +5.9% +4.4% +4.2% +4.9% +4.0% +
Slide 5: Altice International Pro Forma Financials
Altice International Pro Forma Financials €m Q2-24 Q2-25 Growth YoY Reported Growth YoY Constant FX Portugal 664 695 +4.6% +4.6% Israel 253 251 -0.7% +0.7% Dominican Republic 141 129 -8.3% -2.2% Eliminations & other -4 -9 n.m. n.m. Revenue 1,054 1,066 +1.1% +2.3% Portugal 247 244 -1.1% -1.1% Israel
Slide 6: Q2 2025 Free Cash Flow
Q2 2025 Free Cash Flow (€m) 391 (190) 201 (64) (19) (15) (68) 2 (33) Adjusted Accrued OpFCF Interest Pension Taxes Dividends to Change in WC & FCF EBITDA Capex paid paydown minorities other For footnotes see slide 14 6
Slide 7: Capital Structure and Debt Maturity
Capital Structure and Debt Maturity Altice International 0.17 0.18 2.90 2.86 2.62 Net debt €8,601m WAL 2.9 years (€bn) WACD 5.7% Fixed interest 71% Net leverage (LTM) 5.4x Liquidity €0.75bn Unsecured Net debt €675m WAL 2.5 years WACD 4.8% Secured Net debt €7,926m WAL 2.9 years 2025 2026 2027 2028 20
Slide 8: Q&A
Q&A altice
Slide 9: Appendix
Appendix 9
Slide 10: Reconciliation to Swap Adjusted Debt as of June 30, 2025
Reconciliation to Swap Adjusted Debt as of June 30, 2025 Q2-25 €m Actual Total Debenture and Loans from Financial Institutions 8,444 Value of debenture and loans from financial Institutions in foreign currency converted at closing FX rate -2,276 Value of debenture and loans from financial institutio
Slide 11: Leverage Reconciliation as of June 30, 2025
Leverage Reconciliation as of June 30, 2025 €m Actual Pro Forma Gross Debt Consolidated 8,754 8,754 Cash and cash equivalents -101 -101 Restricted cash -51 -51 Net Debt Consolidated 8,601 8,601 LTM EBITDA Consolidated 1,576 1,586 Net Leverage 5.4x L2QA EBITDA Consolidated 1,570 1,570 Net Leverage 5.
Slide 12: Reconciliation to Unaudited GAAP Measures
Reconciliation to Unaudited GAAP Measures €m Q1-25 Q2-25 Revenue - Financial Statements 1,096 1,066 Purchasing and subcontracting costs -322 -302 Other operating expenses -178 -177 Staff costs and employee benefits -158 -154 Total 437 434 Rental expense operating lease -43 -43 Share based expense -
Slide 13: Q2 2025 Free Cash Flow and Change in Net Debt
Q2 2025 Free Cash Flow and Change in Net Debt (€m) 391 (190) 201 169 (64) (19) (15) (68) 204 (33) 2 (23) (13) Adjusted Accrued OpFCF Interest Pension Taxes Dividends Change in WC FCF Restructuring & M&A Financing Change EBITDA Capex paid paydown to minorities & other Other (Mainly & FX in net debt n
Slide 14: Footnotes
Footnotes Financial and statistical information is for the quarter ended June 30, 2025, unless otherwise stated, and any year over year comparisons are for the quarter ended June 30, 2024. Financial and All slides statistical information as presented in this presentation is pro forma for the sale of