SES SA FDR (Class A) · EURONEXT:SESG

SES SA FDR (Class A) — SES — 9M 2012 Earnings Presentation

18 slides from SES SA FDR (Class A)'s earnings presentation, Nov 9, 2012

  1. Slide 1: Financial Results

    Financial Results For the nine months to 30 September 2012 9 November 2012

  2. Slide 2: YTD Q3 2012 Highlights

    YTD Q3 2012 Highlights  Revenue of EUR 1,359.6 million, up 6.1% (+1.6% at constant FX) • Strong YTD progress (EUR 92 million) offset the EUR 71 million negative impact of analogue switch-off • Growth of 7.5%, excluding the analogue switch-off, at constant FX  EBITDA of EUR 1,012.0 million, up 6.4%

  3. Slide 3: YTD Revenue Growth

    YTD Revenue Growth SES Group Revenues in EUR millions at constant FX 1,360 1,339 1.6% 42  Growth of 1.6%, or EUR 21 million Overall 113 despite loss of EUR 71 million in Analogue Revenues respect of analogue switch-off, and in line with full year expectations All Other Revenues  Underlying revenue

  4. Slide 4: YTD Q3 2012 Business Review

    YTD Q3 2012 Business Review  Contract backlog increased to an all-time high of EUR 7.2 billion • Up from EUR 6.8 billion at end June • Six transponder contract renewal by the BBC • 24 transponder long term contract renewal by Canal+  Group transponder utilisation of 72.6% at end September (30 Sep

  5. Slide 5: Europe Business Review – YTD Q3 2012

    Europe Business Review – YTD Q3 2012  Revenue of EUR 687.9 million, down EUR 23.8 million, or 3.3% at constant FX • German analogue switch-off had a negative impact of EUR 71 million • Excluding this, revenue grew EUR 46.9 million, or 7.8%  Successful launch of ASTRA 2F, SES’ 52nd satellite • Firs

  6. Slide 6: North America Business Review – YTD Q3 2012

    North America Business Review – YTD Q3 2012  Revenue of EUR 316.2 million, an increase of 4.7% at constant FX  Revenue recognised in Q3 for services rendered with SES-3 Ka-band payload and Government contracts on third party capacity  Utilisation reduced by 10 transponders • AMC-15 and AMC-16 pay

  7. Slide 7: International Business Review – YTD Q3 2012

    International Business Review – YTD Q3 2012  Revenue of EUR 355.5 million increased 9.4% at constant FX • QuetzSat-1 made a full contribution in the period  SES-4 and SES-5 were successfully launched and brought into service • Following launch delays  Available capacity increased substantially, b

  8. Slide 8: Capacity to Increase by 22%

    Capacity to Increase by 22% SES GROUP by region 2012 2013 2014 2015 2015- (36 MHz Equiv. Total Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 H1 2017 Transponders) SES-5 ASTRA 2F ASTRA 5B Europe (+12) 28 Sep 2012 ASTRA 2E (+21) ASTRA 2G 33 9 Jul 2012 North America SES-8 1-3 Satellites SES-4 SES-5 (+21) in ASTRA 2F SES-

  9. Slide 9: CapEx spending set to reduce

    CapEx spending set to reduce EUR million Estimated, uncommitted potential Growth Investments (maximum) Estimated, uncommitted potential Growth Investments (minimum) Estimated, uncommitted Replacement Satellite CapEx Committed, Non Satellite CapEx – Infrastructure and Services Committed Satellite Cap

  10. Slide 10: Summary

    Summary  Strong revenue growth of 7.5%, excluding analogue switch-off (constant FX)  EBITDA margins remain stable, at high levels  Positive business outlook, as reflected in: • Record backlog of EUR 7.2 billion • Increased capacity available to capture future growth  Capex profile reduction conf

  11. Slide 11: Financial Review and Analysis

    Financial Review and Analysis 11

  12. Slide 12: Financial Highlights – YTD Q3 2012

    Financial Highlights – YTD Q3 2012  Revenue of EUR 1,359.6 million (+6.1%) • Revenue at constant FX rate grew 1.6%  EBITDA of EUR 1,012.0 million (+6.4%) • EBITDA at constant FX rate grew 1.8% • EBITDA margin of 74.4% (YTD Q3 2011: 74.2%)  Operating profit of EUR 625.7 million (+2.6%)  Profit of

  13. Slide 13: Revenue walk from YTD Q3 2011 to YTD Q3 2012

    Revenue walk from YTD Q3 2011 to YTD Q3 2012 FX rate EUR/USD: SES Group Revenue Actual YTD Q3 2011 1.42 in EUR millions +6.1% as Actual YTD Q3 2012 1.29 +9% reported 20.8 1,359.6 57.3 1,338.8 1,281.5 Actual YTD Q3 2011 Constant FX Actual YTD Q3 2011 Growth Actual YTD Q3 2012 (Constant FX)  Reported

  14. Slide 14: EBITDA walk from YTD Q3 2011 to YTD Q3 2012

    EBITDA walk from YTD Q3 2011 to YTD Q3 2012 FX rate EUR/USD: SES Group EBITDA Actual YTD Q3 2011 1.42 in EUR millions +6.4% as Actual YTD Q3 2012 1.29 +9% reported 17.6 1,012.0 43.0 994.4 951.4 74.2% EBITDA margin 74.3% 74.4% Actual YTD Q3 2011 Constant FX Actual YTD Q3 2011 Growth Actual YTD Q3 201

  15. Slide 15: Infrastructure and Services segmentation

    Infrastructure and Services segmentation Business Segmentation YTD Q3 2012 in EUR million Infrastructure Services Other / Elim. *) SES GROUP Revenues 1,190.5 280.9 (111.7) 1,359.6 EBITDA 997.2 39.9 (25.1) 1,012.0 Margin % 83.8% 14.2% 74.4%  The Infrastructure EBITDA margin of 83.8% was well above g

  16. Slide 16: Additional Financial Information

    Additional Financial Information  Depreciation of EUR 360.6 million was EUR 45.0 million higher than YTD Q3 2011 due to: • changes in the depreciable fleet including the start of operations on SES-2, SES-3, ASTRA 1N, QuetzSat-1, the YahLive payload on YahSat-1A, SES-4 and SES-5 as well as the end o

  17. Slide 17: Guidance

    Guidance Proforma Outlook Reporting Outlook Excluding Analogue Period Revenue EBITDA Revenue EBITDA 2012 Annual Growth ~ 2.0% ~2.5% ~ 9.0% ~11.0% 2012 Proforma: Excluding launch delays and solar ~ 3.0% ~3.5% array circuit failures 2012-2014 CAGR ~ 4.5% ~4.5% ~ 7.5% ~8.0%  Strong underlying revenue

  18. Slide 18: 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

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