SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — 9M 2010 Earnings Presentation
15 slides from SES SA FDR (Class A)'s earnings presentation, Oct 27, 2010
Slide 1: Group Financial Results for the nine months to 30 September 2010
Group Financial Results for the nine months to 30 September 2010 27 October 2010
Slide 2: Financial Highlights – YTD Q3 2010
Financial Highlights – YTD Q3 2010 Revenue rose 6.8% to EUR 1,287.2 million • Recurring revenue rose 4.7% to EUR 1,277 million EBITDA increased 6.3% to EUR 961.5 million • Recurring EBITDA rose 4.4% to EUR 973 million • EBITDA margin was 74.7%, 74 7% recurring 76 76.2% 2% • Infrastructure EBITDA mar
Slide 3: Business and Operational Highlights
Business and Operational Highlights Incremental capacity on NSS-12 and ASTRA 3B close to fully contracted SES-7 now operational and available to deliver services in Asia Group utilisation rate grew to 78.7% Extension of Multi-Launch Agreement with ILS • All satellites under construction have secured
Slide 4: Enhanced fleet delivers 30% more capacity
Enhanced fleet delivers 30% more capacity SES Group 2010 2011 2012 2013 2013 2014 Q1 Q2 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q1 Total ASTRA 4B SES ASTRA ASTRA 3B YahLive ASTRA 1N ASTRA 2F ASTRA 2E ASTRA 5B ASTRA 2G (Sirius 5) SES WORLD SKIES SES-1 SES-2 QuetzSat-1 SES-3 North American fleet SES WORLD SKIES NSS-12 /
Slide 5: Capex spending set to reduce
Capex spending set to reduce EUR million 23 Apr 2010 publ.: 875 720 590 1000 ProtoStar-2 (SES-7, Ku-band only) 820 900 790 Estimated, uncommitted 53 800 Replacement Satellite Capex 725 30 13 50 Committed, non-Satellite Capex - 700 65 620 Infrastructure & Services 600 20 Net, committed Satellite Cape
Slide 6: Financial Review and Analysis
Financial Fi i l Review R i and Analysis SES proprietary information 6
Slide 7: Financial Highlights – YTD Q3 2010 and Q3 2010
Financial Highlights – YTD Q3 2010 and Q3 2010 YTD Q3 2010 Revenue rose 6.8% to EUR 1,287.2 million • Recurring g revenue rose 4.7% to EUR 1,277 , million EBITDA increased 6.3% to EUR 961.5 million • Recurring EBITDA rose 4.4% to EUR 973 million • EBITDA margin g was 74.7%, recurring g 76.2% • Infra
Slide 8: Strong revenue growth – YTD Q3 2010
Strong revenue growth – YTD Q3 2010 FX rate EUR/USD: A t l ytd Actual td Sep-09 S 09 1.36 1 36 +6.8% Actual ytd Sep-10 1.32 +3% SES Group Revenue as reported in EUR million +4.7% 1,277 1,287 1 205 1,205 1 220 1,220 10 (1) 16 57 Actual non-recurring constant FX Actual recurring Actual non-recurring A
Slide 9: EBITDA growth follows closely – YTD Q3 2010
EBITDA growth follows closely – YTD Q3 2010 FX rate EUR/USD: Actual ytd Sep-09 1.36 Actual ytd Sep-10 1.32 +3% +6.3% SES Group EBITDA as reported in EUR million +4.4% 973 76.2% 76 2% 962 905 932 76.4% 74.7% 75.1% 41 (11) 15 12 75.1% EBITDA margin 76.4% 76.2% 74.7% Actual non-recurring constant FX Ac
Slide 10: Strong revenue growth – Q3 2010
Strong revenue growth – Q3 2010 FX rate EUR/USD: Actual Q Q3 2009 1.42 Actual Q3 2010 1.27 +12% SES Group Revenue in EUR million +11.4% as reported +4.7% 417 437 442 397 20 5 (1) 21 Actual non-recurring constant FX Actual recurring Actual non-recurring Actual Q3 2009 Q3 2009 growth Q3 2010 Q3 2010 r
Slide 11: Solid EBITDA performance – Q3 2010
Solid EBITDA performance – Q3 2010 FX rate EUR/USD: Actual Q Q3 2009 1.42 Actual Q3 2010 1.27 +12% SES Group EBITDA in EUR million +12.4% as reported +5.8% 314 332 76.0% 76 0% 329 74.3% 74 3% 293 73.7% 75.2% 75 2% 18 (3) 6 15 73.7% % EBITDA margin 75.2% % 76.0% % 74.3% % Actual non-recurring constan
Slide 12: Business segmentation – YTD Q3 2010
Business segmentation – YTD Q3 2010 Infrastructure WORLD OTHER & in EUR million ASTRA SKIES ELIM *) SES GROUP Revenues 646.1 503.1 (1.3) 1,147.9 EBITDA 538.9 38 9 418.0 18 0 00 0.0 956.9 Margin % 83.4% 83.1% 83.4% OTHER & **) Services WORLD normalised One-time in EUR million ASTRA SKIES ELIM *) SES
Slide 13: Additional Financial Information – YTD Q3 2010
Additional Financial Information – YTD Q3 2010 Depreciation of EUR 344.1 million up 17.5 million compared to prior year ¾ Additional depreciation arises from fleet changes, the stronger USD and an impairment charge taken on the AMC-4 satellite Overall net financing charges increased by EUR 78.0 mill
Slide 14: Guidance reiterated
Guidance reiterated 2010: • Recurring revenue growth target range of 4% to 5% • Recurring EBITDA growth will be in line with the revenue growth • Recurring infrastructure EBITDA margin above 82% • Services business profitability to be maintained in a range of 11% to 15% (normalised for start-up acti
Slide 15: Disclaimer / “Safe Harbor” Statement
Disclaimer / “Safe Harbor” Statement This presentation does not, in any jurisdiction, and in particular not 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 securities