SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — Q1 2013 Earnings Presentation
17 slides from SES SA FDR (Class A)'s earnings presentation, May 17, 2013
Slide 1: Financial Results
Financial Results For the year to 31 March 2013 17 May 2013
Slide 2: Q1 2013 Highlights
Q1 2013 Highlights The first quarter of 2013 is heavily impacted from a comparative perspective as Q1 2012 included EUR 32 million of revenue from German analogue transponders Q1 2013 growth compared to Excluding analogue impact, at As Reported At constant FX prior year period constant FX Revenue
Slide 3: Europe Business Review – Q1 2013
Europe Business Review – Q1 2013 Revenue was EUR 226.1 million, down 6.2% at constant FX • A strong underlying performance, as revenue increased by 8.2%, excluding German analogue impact • EUR 17 million of new business partly offsetting German analogue impact of EUR 32 million New business secu
Slide 4: SES increased reach in Europe
SES increased reach in Europe The 2012 SES Satellite Monitor survey, published in March, confirmed SES’ increased reach in Europe, with strong gains in Germany The switch-off of analogue satellite signals and the success of the HD+ platform contributed to the increase of over 500,000 satellite h
Slide 5: North America Business Review – Q1 2013
North America Business Review – Q1 2013 Revenue of EUR 95.0 million, an increase of 0.5% at constant FX AMC-16 payload reduction due to health issues, offset by new business Globecast signed a contract renewing its capacity over the Americas US Government business was solid Utilisation red
Slide 6: International Business Review – Q1 2013
International Business Review – Q1 2013 Revenue of EUR 119.7 million, an increase of 5.4% at constant FX • In the Pacific region, Pactel extended its connectivity offering, signing a multi-year, multi-transponder contract for capacity on NSS-9 at 183°E • Digicel, also in the Pacific region, signed
Slide 7: Investment in O3b Networks
Investment in O3b Networks Two launches of four satellites each are scheduled, in June and September 2013 Service start expected in Q4 2013 Service offerings: • O3bTrunk - for internet trunking services • O3bMaritime – for maritime communications networks • O3bCell – for mobile telephone netwo
Slide 8: New Satellites to Increase Capacity by 12%
New Satellites to Increase Capacity by 12% (compared to year-end 2012) SES GROUP by region 2013 2014 2015 2015- Total (36 MHz Equiv. Q1 Q2 Q3 Q4 Q1 H1 2017 ASTRA 2E Europe ASTRA 2G 21 ASTRA 5B (+21) North America SES-8 1-3 SES-6 (+21) ASTRA 2G SES-9 satellites in International (+49) beam (+10) (+53)
Slide 9: Capital Expenditure is Reducing
Capital Expenditure is Reducing As published on 22 February 2013: 835 691 670 450 450 450 450 EUR million Estimated, uncommitted potential Growth Investments (maximum) Estimated, uncommitted potential Growth Investments (minimum) Estimated, uncommitted Replacement Satellite CapEx Committed, Non Sate
Slide 10: Financial Review and Analysis
Financial Review and Analysis 10
Slide 11: Financial Highlights – Q1 2013
Financial Highlights – Q1 2013 Revenue of EUR 440.8 million (-2.1%, -1.8% at constant FX) • Growth of 5.7%, excluding German analogue impact (at constant FX) • EUR 24 million of new business partly offsets the EUR 32 million German analogue impact in Q1 2012 EBITDA of EUR 321.2 million (-4.8%, -
Slide 12: Revenue Walk from Q1 2012 to Q1 2013
Revenue Walk from Q1 2012 to Q1 2013 FX rate EUR/USD: SES Group Revenue Actual Q1 2012 1.32 in EUR millions -2.1% as Actual Q1 2013 1.33 -1% reported 450.2 449.1 23.7 440.8 (1.1) 417.1 (32.0) Actual Q1 2012 Constant FX Actual Q1 2012 Analogue Actual Q1 2012 Growth Actual Q1 2013 (Constant FX) impact
Slide 13: EBITDA Walk from Q1 2012 to Q1 2013
EBITDA Walk from Q1 2012 to Q1 2013 FX rate EUR/USD: SES Group EBITDA Actual Q1 2012 1.32 in EUR millions -4.8% as Actual Q1 2013 1.33 -1% reported 337.3 336.5 16.7 321.2 (0.8) 304.5 (32.0) Actual Q1 2012 Constant FX Actual Q1 2012 Analogue Actual Q1 2012 Growth Actual Q1 2013 (Constant FX) impact e
Slide 14: Infrastructure and Services Segmentation
Infrastructure and Services Segmentation Business Segmentation Q1 2013 (as reported) *) in EUR million Infrastructure Services Other / Elim. SES GROUP Revenues 378.9 100.2 (38.3) 440.8 EBITDA 317.1 12.8 (8.7) 321.2 Margin % 83.7% 12.8% 72.9% Business Segmentation Q1 2012 (at constant FX) in EUR mill
Slide 15: Additional Financial Information
Additional Financial Information Depreciation of EUR 116.1 million was EUR 2.0 million lower than in 2012 due to: • the absence of the EUR 3 million impairment impact of AMC-16 in Q1 2012 • changes in the depreciable fleet which resulted in a net increase of EUR 1.3 million • the comparatively wea
Slide 16: Guidance
Guidance Proforma as reported / Outlook Reporting Growth as reported / Outlook Excluding Analogue Period Revenue EBITDA Revenue EBITDA 2012 growth as reported 1.5% 1.6% ~ 8% ~ 11% 2012 growth pro forma 2.2% 2.5% ~ 9% ~ 12% (excl. additional launch delays and health issues) 2013 ~ 4% - 5% ~ 4% - 5% ~
Slide 17: Disclaimer / “Safe Harbor” Statement
Disclaimer / “Safe Harbor” Statement This presentation does not, in any jurisdiction, including without limitation in the U.S., constitute or form part of, and should not be construed as, any offer for sale of, or solicitation of any offer to buy, or any investment advice in connection with, any s