Slide 1: Q1 2025 Pro Forma Results Presentation
Space42 Q1 2025 Pro Forma Results Presentation 15 May 2025 Copyright © 2024 Space42 Plc (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.
Slide 2: Speakers
Speakers Karim Michel Sabbagh Andrew Cole Managing Director Chief Financial Officer Copyright © 2024 Space42 Plc (Space42) 2
Slide 3: Agenda
Agenda 1 Key highlights 2 Strategy update 3 Financial overview 4 Q&A
Slide 4: Key highlights
ISPACERES Key highlights
Slide 5: Key highlights
Key highlights Clear Strategic Plan Based on four core pillars focused on assuming leadership positions in geospatial data and AI platform services, NTN 1 services and providing secure connectivity solutions Delivering on the Plan Launched Foresight-2 and Thuraya-4 satellites, advanced EDGE collabor
Slide 6: Strategy update
ISPACERES Strategy update
Slide 7: Translating vision into reality
Translating vision into reality Core pillars and sectorial priority will secure sustainable long-term growth CORE PILLARS Preferred partner for premium geospatial data 1 Build tier-1 sovereign multi-sensor EO assets and capabilities Global leader in GeoInt AI platform and services 2 Deliver actionab
Slide 8: 2025 growth levers (Core Pillars 1 and 3)
2025 growth levers (Core Pillars 1 and 3) Space Services and Smart Solutions Foresight-1 and Foresight-2 Thuraya-4 T2 Coverage Technology Partner ▪ One of the largest and T4 Extended Coverage ▪ Successfully launched two satellites – latest in January most advanced MSS Technology Partner ▪ Part of 7-
Slide 9: Future growth lever (Core Pillar 3)
Future growth lever (Core Pillar 3) Space Services Mobility Services in 2025 Next Generation Mobility Services LEO GEO constellation satellites (T2 and T4) SMS Voice Cell towers (terrestrial) SMS Cell towers Voice (terrestrial) Data Capabilities Capabilities ▪ Proprietary satellite phone (Thuraya On
Slide 10: Strategic plan objective
Strategic plan objective Guided by five principles Programmatic Scalability Growth Prioritize clearly defined growth Unlock opportunities and business programs that bring incremental models which can be materially and recurring value scaled and are not constrained by geography, customer segment or s
Slide 11: Q1 2025 Financial overview (Pro forma)
3 Q1 2025 Financial overview (Pro forma) Note: Unaudited pro forma financials for Space42 have been prepared to allow for like-for-like comparison, as if merger had occurred on 1 January 2023 – these exclude any purchase price allocation adjustments
Slide 12: Financial highlights
Financial highlights Revenue shortfall reflects temporary timing shifts in start of Resilient financial performance with revenue shortfall programmatic engagement (Smart Solutions) and Thuraya-3 offset by lower cost base and other items anomaly (Space Services) – recovery expected in 2025 through ne
Slide 13: Income statement highlights
Income statement highlights Financial extracts Q1’25 Q1’24 YoY Δ Revenue 115 132 (13%) (17) ▪ Revenue headwinds (-13%) due to temporary shifts in execution of a Cost of revenue (16) (26) 39% 10 major multi-year program and Thuraya-3 satellite anomaly Staff costs (34) (28) (19%) (5) ▪ Lower cost base
Slide 14: Normalized results
Normalized results Normalized Adjusted EBITDA Normalized Net Profit Q1’25 Q1’24 YoY Δ Q1’25 Q1’24 YoY Δ Adjusted EBITDA 59 98 (40%) (39) Net Profit 29 56 (49%) (27) One-off restructuring costs 2 1 nm (1) Total EBITDA adjustments 2 (28) nm 30 One-off merger costs 0 1 nm (1) Tax impact of adjustments
Slide 15: Financial performance - revenue
Financial performance - revenue -13% 132 115 ▪ Revenue shortfall reflects temporary timing shift in milestone 17% execution of a major program within Smart Solutions ▪ Space Services shortfall reflects Thuraya-3 anomaly in prior year 101 Q1’25 96 ▪ Recovery expected in 2025 as Thuraya-4 satellite en
Slide 16: Financial performance - EBITDA
Financial performance - EBITDA -40% 98 ▪ Year-on-year performance not directly comparable due to one-off impact of USD 30Mn 59 liquidated damages in prior year 96 ▪ Overall, excluding one-off items, EBITDA remained robust, supported by 6% cost base reduction and disciplined cost control; margin held
Slide 17: Contracted future revenues
Contracted future revenues Close to USD 7Bn of revenue backlog provides visibility and security over future cash flow 93% of cumulative contracted revenue relates to Space Services 5,114 6,905 400 5,065 49 354 420 46 6,430 359 Of which: AY 4&5 – USD 5.1Bn 552 CSA - USD 0.4Bn 61 T4 - USD 0.7Bn O&M: U
Slide 18: Strong balance sheet
Strong balance sheet Balance sheet extracts Q1’25 FY’24 3M YTD Δ Fixed Assets (Satellites, ground ▪ Increase in CWIP mainly relates to AY 4 and AY 5 systems/infrastructure, land and buildings, incl. 521 557 (6%) (35) capital work in progress) ▪ Full repayment of USD 250Mn Bridge Loan in Q1’25 reduce
Slide 19: Cash bridge
Cash bridge -23% 1,163 53 (66) ▪ Strong operating cash flow ▪ CapEx totaled USD 74Mn, (255) driven by Space Services, with over 80% related to 895 partially offset by satellite development, reimbursement of CSA primarily AY 4 and AY 5 ▪ Includes full repayment of advance ▪ Partially offset by USD 8M
Slide 20: Financial framework built on three pillars
Financial framework built on three pillars Capitalize on superior standalone and merged Vision SGAI services and pursue profitable growth opportunities, leading to increased company valuation Organic Growth 1 Inorganic Growth 2 Returns Maximization 3 Strategic Scalability, value-chain expansion Cash
Slide 21: ISPACERES
ISPACERES
Slide 22: Appendix
ISPACERES Appendix
Slide 23: Alternative performance measures
Alternative performance measures Space42 uses alternative performance measures which are relevant to enhance understanding of financial performance and financial position of Group. These measures may not be comparable to similar measures used by other companies; they are neither measurements under I
Slide 24: Disclaimer
Disclaimer Information contained in this presentation represents a summary of condensed pro forma consolidated financial statements for quarter ended 31 March 2025 (first quarter 2025 Financial Statements) of Space42 PLC and its subsidiaries (Space42). This presentation does not purport to contain a
Slide 25: space42.ai ir@space42.ai
space42.ai ir@space42.ai Copyright © 2024 Space42 Plc (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.