Internet Gold - Golden Lines Ltd.
Internet Gold - Golden Lines — Investor Presentation (November 2015)
18 slides from Internet Gold - Golden Lines's investor presentation, Nov 23, 2015
Slide 1: The Bezeq Era Investors Presentation
The Bezegq Era Investors Presentation November 2015
Slide 2: Forward-Looking Statement
Forward-Looking Statement This ion contains ‘d-lookir within the meaning of Section 27A of the Securities ad of ae as amended, and Section 21€ of the Securities Exchange Act of 1934, as amended. d-l 9 are that are not historical facts and may include financial oroetons and estimates and their underl
Slide 3: IGLD's Profile
| IGLD’s Profile Internet Gold (TASE and Nasdaq: IGLD) is a telecommunications-oriented holding company. Internet Gold’s holds 66.71% interest in B Communications Ltd. (‘BCOM”) (TASE and Nasdaq: BCOM), which in turn holds the controlling interest (approximately 30.6%) in Bezeq — The Israel Telecommu
Slide 4: Bezeq, B-Com and IGLD are ultimately controlled by Eurocom Group
Bezeq, B-Com and IGLD are ultimately controlled by Eurocom Group, the most experienced operator in) the Israeli telecommunications field '= Eurocom was founded in 1979 = One of Israel's largest holding companies with a strong presence in Israel and a growing international presence '= Owned by Shaul
Slide 5: Eurocom: Israel's Largest Communications Footprint
(=) INTERNET Gown] Eurocom: Israel’s Largest Communications Footprint — - Inert Services Inmet VAS resident Inemet bness e-Advenising walla@ eCommerce ow ia 8 1D Fixed telephony Mobile Multi channel TV. 01D im © ‘Telecom & consumer electronics. TTEtHY oxta Panasonic AVES. Govsr Satelite services t n
Slide 6: Experienced, Disciplined Leadership
Experienced, Disciplined Leadership Shaul Elovitch * 4, Founder & Chairman Over 40 years experience . businesses and other major investments businesses Doron Turgeman CEO since 2011 & CFO from 2001 till 2011 20 years experience in management 18 years in communications * Chairman of the board of dire
Slide 7: Key Milestones for IGLD
EVMERNETEOL] Key Milestones for IGLD From small entrepreneurial business to large holding company Founded in 1999 under the name Goldtrade, operating in the field of e-commerce, as a subsidiary of IGLD, and as the operator of the e-commerce web site P1000 In 2004, IGLD increases its holdings in the
Slide 8: Group Structure
mmm Internet Gold Ese float Golden Lines 133.3% Free float 30.6% 69.4% Free float B Group Structure Eurocom Group ic nis) 512 ar Mobile twephony 2d at Walla! ‘Source: Company's information, Bezeq's investors’ presentation. © All figures are as of September 30, 2015. to BCOM's NAV, based on November
Slide 9: Bezeq, Our Base Asset
bezea Bezeq, Our Base Asset
Slide 10: Bezeq: Israel's Most Comprehensive Communications Infrastructure and Service Provider
Bezeq: Israel’s Most Comprehensive Communications Infrastructure and Service Provider | y uses on tase wal walla® (On June 23, 2015, and Further of the ‘Yess issued and paid-up capital, unconditionally. This concludes the td, 3, 201 June 24, 2015, At the closing hundred Eurocom OBS in Yes Yes (c) Eu
Slide 11: Bezeq Financials
(=) INTERNET G1] Bezeq Financials (NIS Millions) Revenues EBITDA 430% same 439% —___»—_* arr 4907 10,278 9,563 aos biliad 2012 2013 oe 012 2013 ove Net income attributable to shareholders —_ Free cash flow * 1861 4771 2at1 2779 2751 X ‘Source : Bezea's press release
Slide 12: Bezeq Business Lines
+) INvenner coun] Bezeq Business Lines ica) pelephone Bezeq Fixe Peley oadband infrastry Mobile telephony and data cAGR Nismm 20120, 20130 20140 1214 Revenue 4.468 3.809 3419 -12.52% % grows “195% 14.7% 10.29% EBITDA 1423, 879 21.41% % margin 31.8% 28.7% Capex, net 381 321 8.219% % of rev. 8.5% 9.4%
Slide 13: Bezeq Business Lines
+) INvenner coun] Bezeq Business Lines ietnational + Leading broadband Intemet service in Israel A tely + Leading brand for 42% Internet market share. service’ + Israet’s largest data center. + Over 43% market share. * Dict ownership of moder and high; speed submarine * Rich content offering with ex
Slide 14: Bezeq's Dividend Policy
5) Invemner cou) Bezeq’s Dividend Policy distribution of 100% of its net income on a semi-annual basis jend Yield from 2006 to 2015 — ividend yield (28) Bezeq Group Dividends by Year (NIS MM) sae Pe pu 2 ze 2018" ‘+ Based on its ownership interest, BCOM will receive ~ 31% of Bezeq’s annual dividends
Slide 15: IGLD's Cash Position
IGLD’s Cash Position As of September 30, 2015, IGLD’s unconsolidated cash and cash equivalents totaled NIS 316 million, its unconsolidated total debt was NIS 1.1 billion, and its net debt totaled NIS 816 million. IGLD’s Unconsolidated Balance Sheet Data* As of September 30, 2015 Short term liabiliti
Slide 16: IGLD During Last Months
[VTERNETEO] TG) During Last 9 Months December 31,2014 September 30, 2015 IGLD's share in Bcom's Market cap (NIS Billions) 1.40 1.54 IGLD's share in Bcom's NAV (NIS Billions) 2.21 3.23 Net Financial Debt (NIS Billions) 0.82 0.82 NAV (NIS Billions) 1.39 2.41 Debt Weighted Duration (In years) 3.50 3.17
Slide 17: Projection of Future Debt Repayment
5) Invemner cou) Projection of Future Debt Repayment (NIS millions) 2015, 2016 2017 2018 2019 2020 2021 2022 Series B Debentures Series C Debentures _m Series D Debentures: * All amounts include future estimated interest payments
Slide 18: Thank you
The Bezeq Era Thank you
Internet Gold Golden Lines — Investor Presentation (November 2015) on 6ix