Digi Communications Nv · BVB:DIGI
Digi Communications Nv — Cable Communications Systems (CCS) — Q1 2016 Earnings Presentation
21 slides from Digi Communications Nv's earnings presentation, Jun 9, 2016
Slide 1: Investor presentation for the three months ended March 31, 2016
Investor presentation for the three months ended March 31, 2016 Cable Communications Systems (CCS) Parent Company of June 9, 2016
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 Cable Communications Systems (“CCS" or the "Company") and solely for use during t
Slide 3: Group overview
p. 3 Group overview Romania Hungary Spain & Italy Total Three months ended Three months ended Three months ended Three months ended March 31, 2016 March 31, 2016 March 31, 2016 March 31, 2016 Revenues² €145.0 m €32.9 m €22.6 m €199.8 m Adj EBITDA €48.4 m €13.3 m €2.4 m €64.0 m Adj EBITDA margin¹ 33.
Slide 4: Recent Developments
p. 4 Recent Developments Business • April 2016: On 29 April 2016 we repaid the second principal installment from the 2015 Senior Facility, in amount of RON 110 million (EUR 24.6 million equivalent). • March 2016: • National roaming agreement with Vodafone was extended for 1 additional year (initiall
Slide 5: Recent Developments - Legislative
p. 5 Recent Developments Legislative Several changes to the Romanian tax legislation were enacted by the Romanian Parliament in 2015 and entered into force starting January 2016. Some of the changes are: − VAT progressively decreased from 24% to 20% starting January 2016 and to 19% starting Januar
Slide 6: Financial highlights
p. 6 Financial highlights Results from continuing operations ** Revenues in Romania increased mainly as a result of: Eur. m 199.8 – Increase in mobile telephony RGUs, ARPU and 198.4 200.0 Revenues Adj. EBITDA CAPEX 189.3 183.6 related sales of equipment 180.0 174.3 174.9 – Increase in our cable Tv
Slide 7: Highlights Romania – Revenue and Adj EBITDA
p. 7 Highlights Romania – Revenue and Adj EBITDA Results of Operations1 For the three months ended Results of Operations March 31, % change 2015 2016 (euro in millions) Revenues* 126.9 145.0 14.3% Adjusted EBITDA* 41.8 48.4 15.8% Margin % 33.0% 33.4% Revenues1 in constant currency 126.9 146.0 15.1%
Slide 8: Highlights Romania - KPIs
p. 8 Highlights Romania - KPIs Subscribers Subscribers (Thousand RGUs) RGUs Period Ended March 31, Net Additions 2015 2016 Last 12 months Last 3 months Cable TV 2,633 2,752 119 19 Fixed internet and data 1,868 2,013 145 37 Fixed-line telephony 1,455 1,397 (58) (17) Mobile telephony 1,485 2,060 575 1
Slide 9: Highlights Hungary – Revenue and EBITDA
p. 9 Highlights Hungary – Revenue and EBITDA Results of Operations For the three months ended % Results of Operations March 31, change 2015 2016 Increase in revenue and improved (euro in millions) EBITDA in 2016 driven by increase Revenues 31.0 32.9 6.1% in RGU (increase in fixed internet EBITDA 1
Slide 10: Highlights Hungary - KPIs
p. 10 Highlights Hungary - KPIs Subscribers RGUs Period Ended Subscribers (Thousand RGUs) March 31, Net Additions 2015 2016 Last 12 months Last 3 months Cable TV 416 452 36 15 Fixed internet and data 355 398 43 16 Fixed-line telephony 307 334 27 7 Mobile internet and data 18 15 (3) (1) DTH 326 317 (
Slide 11: Highlights Other Territories
p. 11 Highlights Other Territories For the three months ended March 31, % change 2015 2016 (euro in millions) Revenues Spain1 16.1 20.5 27.3% Italy 1.7 2.1 23.5% Discontinued operations2 3.1 - N.M 20.8 22.6 EBITDA1 Continuous Operations 1.3 2.4 84.6% Discontinued Operations2 1.0 - N.M 2.3 2.4 For th
Slide 12: Group Financial Profile
p. 12 Group Financial Profile Maturity profile Long term loans & Notes Financial liabilities as of March 31, 2016* as of March 31, 2016 (EUR millions) Loan Bond Other long term loan Amount 500.0 476 Facility (EUR millions) Senior Secured Notes 450.0 400.0 Senior Facility 232.5 Financial leases 8.30
Slide 13: Group Financial Profile (continued)
p. 13 Group Financial Profile (continued) Gross / Net Debt (EUR millions) 800 713 721 710 Total net debt* as of March 31, 2016 is EUR 54 50 49 672.7 million 600 Net Leverage** is 2.7x and Gross Leverage is 2.9x. 659 661 673 400 200 2014 2015 Q1 2016 Leverage Net Debt Cash 3.5x 3.1x 3.0x 2.9x 3.0x
Slide 14: Financial Calendar
p. 14 Financial Calendar You can find us on: Web: investors.rcs-rds.ro Email: investor.relations@rcs-rds.ro Agenda Report Call Q2 2016 Results 26-Aug-16 Thursday 1-Sep-16 Q3 2016 Results 25-Nov-16 Tuesday 29-Nov-16 FY 2016 Results 14-April-17 Thursday 20-April-17 CCS / RCS & RDS
Slide 15: Q&A Session
p. 15 Q&A Session CCS / RCS & RDS
Slide 16: Appendices
p. 16 Appendices CCS / RCS & RDS
Slide 17: Revenue streams
p. 17 Revenue streams Q1 2016 revenue split by product Q1 2016 revenue split by country Other Italy revenues 1% 11% Spain 10% DTH Cable TV 9% 26% Mobile Hungary internet and 17% data 5% Mobile Fixed internet telephony and data 20% 25% Romania Fixed-line 72% telephony 4% CCS / RCS & RDS
Slide 18: Group Results (P&L)
p. 18 Group Results (P&L) For the three months ended March 31, % change 2015 2016 (euro in millions) Revenues1 Romania 126.5 144.6 14.3% Hungary 31.0 32.9 6.1% Spain 15.8 20.2 27.8% Italy 1.7 2.1 23.5% Discontinued Operations2 3.1 - N.M Total Revenues 178.0 199.8 12.2% Adjusted EBITDA3 56.4 64.0 13.
Slide 19: Cash Flow
p. 19 Cash Flow Summary Cash Flow For the three months ended March 31, 2015 2016 (euro in millions) Cash flows from operations before working capital changes 54.5 66.8 Cash flows from changes in working capital 14.8 (5.9) Cash flows from operations 69.3 60.8 Interest paid (3.6) (3.2) Income tax paid
Slide 20: FOREX development
p. 20 FOREX development RON/EUR Exchange Rate 2016 HUF/EUR Exchange Rate 2016 4.70 320 4.60 310 312 312 313 312 4.50 308 308 309 300 306 306 4.50 4.49 4.40 4.45 4.44 4.46 4.43 4.41 4.43 4.43 290 4.30 280 4.20 4.10 270 4.00 260 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2014 2014 2014
Slide 21: Summary corporate and financing structure
p. 21 Summary corporate and financing structure RCS Management, S.A. (Romania) 63% Cable Communication New Senior Systems N.V.² Secured Notes (The Netherlands) €450m 95.7%¹ Proceeds loan RON1,040M Senior RCS & RDS S.A.² Facilities Agreement (Romania) 100% 100% 100% DIGI T.S. Kft DIGI Spain DIGI Tele
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