Digi Communications Nv · BVB:DIGI
Digi Communications Nv — Q1 2017 Earnings Presentation
20 slides from Digi Communications Nv's earnings presentation, 2017
Slide 1: Digi Communications N.V. Investor presentation for the period ended March 31, 2017
DIGI COMMUNICATIONS N.V. (“the Company” or “DIGI”) Investor presentation for the period ended March 31, 2017
Slide 2: Disclaimer
p. 2 Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: The information in this document has been prepared by Digi Communications N.V., (the "Company“ or “DIGI”) and solely for use during the
Slide 3: Group overview
Group overview ‘Mil € Romania Hungary Spain & Other3 Total Three months Three months Three months Three months ended ended ended ended March 31, 2017 March 31, 2017 March 31, 2017 March 31, 2017 Revenues2 €165.3 m €37.5 m €25.3 m €226.7 m EBITDA €48.5 m €11.5 m €5.1 m €65.1 m Adj EBITDA margin¹ 29.4
Slide 4: Recent developments
Recent developments Business • On April 11, 2017 Cable Communications Systems N.V changed its name to Digi Communications N.V. (“the Company”, “DIGI”). • In connection with the IPO, the Company intends to become tax resident in Romania. This should not affect materially the corporate income tax incu
Slide 5: Financial highlights
Financial highlights Results from continuing operations Key considerations • Revenues in Romania increased mainly as a result of: EUR. M 1 • Increase in mobile telephony RGUs, 250.0 Revenues Adj. EBITDA CAPEX 225.4 226.7 ARPU and related sales of equipment. 212.2 205.3 199.8 • Increase in our cable
Slide 6: Highlights Romania (1/2)
Highlights Romania (1/2) Revenue and Adj EBITDA Results of Operations1 Three months ended ‘Mil € March 31, % change 2016 2017 Revenues 145.0 165.3 14.0% Adjusted EBITDA 48.4 48.5 0.2% Margin % 33.4% 29.4% Key considerations Revenue growth of 14.0% in Q1 2017 was driven by growth in our mobile tele
Slide 7: Highlights Romania (2/2)
Highlights Romania (2/2) Subscribers Key considerations RGUs Period Ended Net Additions Thousand RGUs March 31, Last 12 Last 3 2016 2017 months months Cable TV 2,752 2,893 141 28 Fixed internet and data 2,013 2,149 136 34 Mobile telecommunications services1 2,840 3,305 465 92 Fixed-line telephony 1,
Slide 8: Highlights Hungary (1/2)
Highlights Hungary (1/2) Revenue and Adj EBITDA Results of Operations Three months ended ‘Mil € March 31, % change 2016 2017 Revenues 32.9 37.5 14.0% Adjusted EBITDA 13.3 11.5 -13.5% Margin % 40.4% 30.6% Key considerations Increase in revenue in 2016 driven by increase in RGUs (mainly increase in
Slide 9: Highlights Hungary (2/2)
Highlights Hungary (2/2) Subscribers Key considerations RGUs Period Ended Net Additions Thousand RGUs March 31, Last 12 Last 3 2016 2017 months months Cable TV 452 480 28 7 Fixed internet and data 398 439 41 11 Mobile telecommunications services1 15 13 (2) (1) Fixed-line telephony 334 361 27 8 DTH 3
Slide 10: Highlights Other Territories
Highlights Other Territories Revenue and Adj EBITDA Three months ended ‘Mil € March 31, % change 2016 2017 Revenues Spain1 20.5 21.7 5.9% Other 2.1 3.6 71.4% 22.6 25.3 11.9% Adj EBITDA 2.4 5.1 112.5% Subscribers & ARPU RGUs Period Ended Net Additions Thousand RGUs March 31, Last 12 20162 2017 months
Slide 11: Group Financial Profile (1/2)
Group Financial Profile (1/2) Financial liabilities as of Maturity profile Long term loans & Notes March 31, 20171 (Mil €) Amount 400 350 Facility (Mil €) 2016 Senior Secured Notes 350.0 300 2016 Senior Facility 336.2 Financial leases 5.3 200 Other long term debt2 49.2 152 Other short term debt3 18.
Slide 12: Group Financial Profile (2/2)
Group Financial Profile (2/2) 800 710 773 769 15 8.9 50 Key considerations 600 758 760.1 400 661 Total net debt1 as of March 31, 2017 is €760.1 million Net Leverage2 is 2.9x and Gross Leverage is 200 2.9x. 2015 2016 Q1 2017 Net Debt Cash 3.8x 3.5x 3.3x 3.0x 3.0x 2.9x 3.0x 2.8x 2.5x 2.9x 2.9x 2.8x
Slide 13: Contact
Contact You can find us on: Web: www.digi-communications.ro investors.rcs-rds.ro Email: ipo.relations@digi-communications.ro investor.relations@rcs-rds.ro 13 DIGI
Slide 14: Q&A
Q&A 14 DIGI
Slide 15: Appendices
Appendices 15 DIGI
Slide 16: Revenue streams
Revenue streams Q1 2017 revenue split by product Q1 2017 revenue split by country Other Italy revenues Spain 2% 14% 9% Cable TV 25% DTH 8% Fixed-line Hungary telephony 17% 3% Fixed internet and data Mobile 23% telecommunications services Romania 27% 73% 16 DIGI
Slide 17: Group Results (P&L)
Group Results (P&L) ‘Mil € For the three months ended March 31, % change 2016 2017 Revenues1 Romania 144.6 164.9 14.0% Hungary 32.9 37.5 14.0% Spain 20.2 20.8 3.0% Italy 2.1 3.5 66.7% Total Revenues 199.8 226.7 13.5% Adjusted EBITDA 64.0 65.1 1.7% % margin2 32.0% 28.7% Result from services Revenues
Slide 18: Cash Flow
Cash Flow Summary of Cash flows Period ended ‘Mil € March 31, 2016 2017 Cash flows from operations before working capital changes 66.8 73.2 Cash flows from changes in working capital (5.9) 0.2 Cash flows from operations 60.8 73.3 Interest paid (3.2) (4.3) Income tax paid (0.8) (1.3) Cash flow from o
Slide 19: Forex development
Forex development RON/EUR Exchange Rate 2016 HUF/EUR Exchange Rate Q1 2017 4.60 310 313 313 312 312 311 311 309 309 4.50 306 4.52 4.49 4.50 4.49 300 4.46 4.47 4.45 4.44 4.40 4.43 290 4.30 280 4.20 270 4.10 4.00 260 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q
Slide 20: Summary corporate and financial structure
Summary corporate and financial structure RCS Management, S.A. (Romania) Digi Communications New Senior N.V.1 Secured Notes €350m Proceeds loan RON 1,530 M Senior RCS & RDS S.A. Facilities Agreement (Romania) 100% 100% 100% DIGI T.S. Kft DIGI Spain DIGI Telecom Hungary S.L.U. Italy SRL Guarantor of