Eurotelesites Ag · VIE:ETS
Eurotelesites — Q3 2024 Earnings Presentation
20 slides from Eurotelesites's earnings presentation, Oct 15, 2024
Slide 1: Q3/2024 Results Presentation
Q3/2024 RESULTS PRESENTATION Vienna, October 15, 2024
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT This presentation contains forward-looking statements. These forward-looking statements are usually accompanied by words such as 'believe', 'intend', 'anticipate', 'plan', 'expect' and similar expressions. Actual events may differ materially from those anticipated in these forwa
Slide 3: Quarterly performance aligns with expectations
Q3/2024 RESULTS QUARTERLY PERFORMANCE ALIGNS WITH EXPECTATIONS ▪ +1.8% / 1.2 mEUR Revenue growth vs Q2 mostly by a one-time effect in Austria ▪ 16 towers net were added, and +35 sites were built in Q3, with 19 being Greenfield and 16 being Rooftop sites resulting in 13,568 total sites Highlights ▪ 5
Slide 4: EuroTeleSites is building Europe's digital infrastructure
EUROTELESITES IS BUILDING EUROPE'S DIGITAL INFRASTRUCTURE Q3/24 13,568 Sites in 6 countries 1.24x Tenancy Ratio Q1/2024 Q2/2024 Q3/2024 Total Revenues (mEUR) 63.9 66.8 68.0 EBITDA (mEUR) / Margin 54.4 / 85% 56.7 / 85% 58.4 / 86% EBITDAaL (mEUR) / Margin 36.2 / 56% 38.1 / 57% 39.6 / 58% 4 CAPEX (mEUR
Slide 5: 16 towers net were added, and 53 third-party tenants onboarded
Q3/2024 | 16 TOWERS NET WERE ADDED, AND 53 THIRD-PARTY TENANTS ONBOARDED Number of macro towers Number of tenants 1.23x 1.23x 1.24x 1.24x +288 +69 +103 16,521 16,605 16,740 16,809 +16 53 13,465 13,496 13,552 13,568 3,056 3,109 3,188 3,241 6,076 6,094 6,117 6,128 13,465 13,496 13,552 13,568 7,389 7,4
Slide 6: Most of the capex is invested in upgrades for the anchor tenant
THE SAME AS IN THE PREVIOUS QUARTER: MOST OF THE CAPEX IS INVESTED IN UPGRADES FOR THE ANCHOR TENANT CAPEX Split Comments on Q3/2024 ~20% of the revenues is spent into CAPEX ▪ 35 new sites were built, with 19 being Greenfield and 16 being Rooftop sites ▪ Additional modifications: 36.0 mEUR As part o
Slide 7: EuroTeleSites' country breakdown
EUROTELESITES’ COUNTRY BREAKDOWN ONE TIME EFFECT INCREASED AUSTRIA'S SHARE Q3/2024 Q3/2024 Revenues EBITDAaL* 5% 5% 11% 11% 2% 3% 68.0 11% 39.6 11% mEUR mEUR 60% 62% 11% 10% Austria Bulgaria Croatia North Macedonia Serbia Slovenia 7 *Corporate & Other, Eliminations is included in the Austrian segmen
Slide 8: Financial Details
FINANCIAL DETAILS [eal EuroTeleSltes
Slide 9: Group results Q3 vs. Q2/2024
GROUP RESULTS | Q3 vs. Q2/2024 QUARTERLY PERFORMANCE ALIGNS WITH EXPECTATIONS Revenues EBITDA (Margin) mEUR mEUR +1.8% +3.1% Revenues 68.0 63.9 66.8 1.0 54.4 56.7 58.4 ▪ In the third quarter, EuroTeleSites posted in addition one-off revenues of 67.0 85% 85% 86% 1 mEUR in Austria EBITDA & EBITDAaL Q1
Slide 10: Austria: revenue growth of 2.5% driven by finalization of projects
AUSTRIA | REVENUE GROWTH OF 2.5% DRIVEN BY FINALIZATION OF PROJECTS Revenues EBITDA (Margin) Revenues mEUR mEUR ▪ Revenue growth by 2.5% driven by one-time +2.5% +4.3% effects from finalizing ongoing projects 37.9 39.6 40.6 34.7 36.1 2023/2024 32.8 EBITDA & EBITDAaL 87% 88% 89% ▪ Tight cost control
Slide 11: International: revenues on track
INTERNATIONAL | REVENUES ON TRACK Revenues EBITDA (Margin) mEUR mEUR Revenues +2% +0.7% -0.8% ▪ Stable increase in revenues due to 26.0 27.2 27.4 23.0 23.8 23.6 increase in additional tenants EBITDA & EBITDAaL 88% 87% 86% ▪ As expected, we have slightly higher OPEX (maintenance) and leasing costs Q1
Slide 12: Liquidity & Guidance
LIQUIDITY & GUIDANCE [eal EuroTeleSltes
Slide 13: 180 mEUR private placement with improved margins
180 mEUR PRIVATE PLACEMENT WITH IMPROVED MARGINS IN COMPARISON TO THE TERM LOAN FINANCE OF 970 MEUR VIA MIX OF INSTRUMENTS ▪ NEW 180 mEUR private placement; maturity July 2028; variable EURIBOR + applicable margin ▪ REDUCED 290 mEUR 5-year term loan; maturity June 2028; LIQUIDITY variable EURIBOR +
Slide 14: Guidance for 2024 and medium term
GUIDANCE FOR 2024 AND MEDIUM TERM OPERATIONAL FINANCIAL FINANCIAL GUIDANCE GUIDANCE GUIDANCE MEDIUM TERM 2024 2024 (UNCHANGED) Revenue guidance of 4-6% CAGR Further develop tenancy ratio 5% to be exceeded revenue growth and positive free cash flow Explore Non-MNO business CAPEX approximately EBITDA
Slide 15: Questions & Answers
QUESTIONS & ANSWERS Ivo Ivanovski Lars Mosdorf EuroTeleSites EuroTeleSites CEO CFO CONTACT INVESTOR RELATIONS Moritz Palmi E: Moritz.Palmi@eurotelesites.com M: +43 664 66 39 520 15
Slide 16: Backup
BACKUP 16
Slide 17: Glossary
GLOSSARY CAPEX Capital Expenditures Total additions to intangible assets + total additional to property plant and equipment (excluding right of use additional according to IFRS 16) EBITDA Earnings Before EBIT + depreciation + amortization Interest, Tax, Depreciation and Amortization EBITDA Margin EB
Slide 18: EuroTeleSites' Profit & Loss
EUROTELESITES’ PROFIT & LOSS Currency: TEUR Q1/2024 Q2/2024 Q3/2024 Revenues 63 908 66 813 68 000 Cost of service - 6 129 - 6 839 - 6 792 Selling, general & administrative expenses - 2 971 - 3 132 - 2 629 Other expenses - 401 - 186 - 156 Total cost and expenses (∑ lines 11-13) - 9 501 - 10 158 - 9 5
Slide 19: EuroTeleSites' Assets
EUROTELESITES’ ASSETS [unaudited] [unaudited] [unaudited] March 31, June 30, September 30, Currency: TEUR 2024 2024 2024 Current assets Cash and cash equivalents 19 169 17 455 20 209 Accounts receivable (net) 11 556 8 390 12 430 Receivables due from related parties 24 621 26 620 29 036 Income tax re
Slide 20: EuroTeleSites' Liabilities and Stockholders' Equity
EUROTELESITES’ LIABILITIES AND STOCKHOLDERS’ EQUITY [unaudited] [unaudited] [unaudited] March 31, June 30, September 30, Currency: TEUR 2024 2024 2024 Current liabilities Short-term Current assets debt - - 10 000 Leaseand Cash liabilities short-term cash equivalents 50 169 19 308 52 455 17 061 53 20