Digi Communications Nv · BVB:DIGI
Digi Communications Nv — Cable Communications Systems N.V. (CCS) — Q2 2015 Earnings Presentation
21 slides from Digi Communications Nv's earnings presentation, Sep 10, 2015
Slide 1: Investor presentation for the three months ended June 30, 2015
Investor presentation for the three months ended June 30, 2015 Cable Communications Systems (CCS) Parent Company of September 10, 2015
Slide 2: Disclaimer
p. 2 Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: The information in this document has been prepared by Cable Communications Systems (“CCS" or the "Company") and solely for use during t
Slide 3: Group overview
p. 3 Group overview Romania Hungary Others Total 3 months 6 months 3 months 6 months 3 months 6 months 3 months 6 months ended June ended June ended June ended June ended June ended June ended June ended June 30, 2015 30, 2015 30, 2015 30, 2015 30, 2015 30, 2015 30, 2015 30, 2015 Revenues² €134 m €2
Slide 4: Recent Developments - Business
p. 4 Recent Developments - Business On April 21, 2015 we completed the sale of our subsidiary in the Czech Republic. At closing we received €25.4 million and we expect to incur net transaction related costs of €1.4 million before the end of 2016. On May 22, 2015 we refinanced our 2013 Senior Fac
Slide 5: Recent Developments – Legislation
p. 5 Recent Developments – Legislation Several changes to the Romanian tax legislation were enacted by the Romanian Parliament in July and in September and are to enter into force starting January 2016. Some of the changes are: − VAT progressively decreases from 24% to 20% starting January 2016 an
Slide 6: Financial highlights
p. 6 Financial highlights Revenues increased Q2 2015 compared with Results from continuing operations* Q2 2014 mainly in Romania and Spain. Revenues & other income Revenues in Romania increased by EUR 20.9 200 m million mainly as a result of: Eur. Adj. EBITDA CAPEX 185 – increase in mobile telep
Slide 7: Highlights Romania – Revenue and Adj EBITDA
p. 7 Highlights Romania – Revenue and Adj EBITDA Results of Operations1 For the three months For the six months Results of Operations ended June 30, % change ended June 30, % change 2014 2015 2014 2015 (euro in millions) (euro in millions) Revenues 112.8 133.6 18.4% 221.4 259.8 17.3% Adjusted EBITDA
Slide 8: Highlights Romania - KPIs
p. 8 Highlights Romania - KPIs Subscribers RGUs Period Ended Subscribers (Thousand RGUs) June 30, Net Additions 2014 2015 Last 12 months Last 3 months Cable TV 2,535 2,659 124 26 Fixed internet and data 1,753 1,898 145 30 Fixed-line telephony 1,499 1,443 (56) (12) Mobile telephony 1,087 1,583 496 98
Slide 9: Highlights Hungary – Revenue and EBITDA
p. 9 Highlights Hungary – Revenue and EBITDA Results of Operations Increase in revenue and improved For the three months % For the six months % EBITDA in Q2 2015 driven by Triple Results of Operations ended June 30, change ended June 30, change Play Bundles. 2014 2015 2014 2015 (euro in millions)
Slide 10: Highlights Hungary - KPIs
p. 10 Highlights Hungary - KPIs Subscribers RGUs Period Ended Subscribers (Thousand RGUs) June 30, Net Additions Steady growth Triple Play Last 12 Last 3 2014 2015 months months subscribers and increase in Cable TV 402 420 18 4 the penetration of Internet Fixed internet and data 333 361 28 6 and F
Slide 11: Highlights Other Territories
p. 11 Highlights Other Territories For the three months % For the six months % ended June 30, change ended June 30, change 2014 2015 2014 2015 (euro in millions) (euro in millions) Spain: Revenues • Steady growth in RGUs Spain1 12.9 18.5 43.4% 25.3 34.6 36.8% • We have negotiated the Italy 1.1 1.9
Slide 12: Group Financial Profile
p. 12 Group Financial Profile Maturity profile Term Loan & Notes Financial liabilities as of June 30, 2015 as of June 30, 2015 (EUR millions) Amount Facility (EUR millions) 500 472 Senior Secured Notes (Bond) 450.0 Loan Bond Term loan (5y) 231.1 400 Financial leases 6.9 Other short term debt 4.8 Hed
Slide 13: Group Financial Profile (continued)
p. 13 Group Financial Profile (continued) Gross / Net Debt (EUR millions) 800 729 708 668 54 52 Total net debt as of June 30, 2015 is EUR656 50 600 million Net Leverage is 2.9x and Gross Leverage is 400 617 675 656 3.1x. 200 - 2013 2014 Q2 2015 Net Debt Cash Leverage 3.5x 3.2x 3.1x 3.0x 2.6x 2.9x
Slide 14: Financial Calendar
p. 14 Financial Calendar You can find us on: Web: investors.rcs-rds.ro Email: investor.relations@rcs-rds.ro Agenda Report Call Q3 2015 Results 4-Dec-15 Thursday 10-Dec-15 FY 2015 Results 15-Apr-16 Thursday 21-Apr-16 Q1 2016 Results 3-Jun-16 Thursday 9-Jun-16 Q2 2016 Results 2-Sep-16 Thursday
Slide 15: Q&A Session
p. 15 Q&A Session CCS / RCS & RDS
Slide 16: Appendices
p. 16 Appendices CCS / RCS & RDS
Slide 17: Revenue streams
p. 17 Revenue streams Q2 2015 revenue split by product Q2 2015 revenue split by country Czech Other Republic Italy revenues 0% 1% 12% Spain 10% DTH Cable TV 10% 27% Hungary 17% Mobile telephony 16% Romania 72% Fixed Mobile internet and Fixed-line internet and data telephony data 26% 4% 5% CCS / RCS
Slide 18: Group Results (P&L)
p. 18 Group Results (P&L) For the three months ended For the six months ended June 30, % change June 30, % change 2014 2015 2014 2015 (euro in millions) (euro in millions) Revenues Romania 112.3 133.2 18.6% 219.9 259.0 17.8% Hungary 30.2 31.4 4.0% 59.5 62.4 4.9% Spain 12.9 18.2 41.1% 25.0 34.0 36.0%
Slide 19: Cash Flow
p. 19 Cash Flow Summary Cash Flow Three months ended Six months ended June 30, June 30, 2014 2015 2014 2015 (euro in millions) (euro in millions) Cash flows from operations before working capital changes 58.7 57.0 120.6 111.2 Cash flows from changes in working capital (6.4) 2.9 (18.6) 18.0 Cash flow
Slide 20: FOREX development
p. 20 FOREX development RON/EUR Exchange Rate 2013 – Q2 2015 HUF/EUR Exchange Rate 2013 – Q2 2015 4.70 320 4.60 310 312 4.50 308 308 309 300 306 306 4.50 4.40 4.44 4.45 4.45 4.44 298 298 4.43 4.41 4.43 297 296 4.39 4.40 290 4.30 280 4.20 4.10 270 4.00 260 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1
Slide 21: Summary corporate and financing structure
p. 21 Summary corporate and financing structure RCS Management, S.A. (Romania) 63% Cable Communication New Senior Systems N.V.² Secured Notes (The Netherlands) €450m 96%¹ Proceeds loan RON1,034M Senior RCS & RDS S.A.² Facilities Agreement (Romania) 100% 100% 100% DIGI T.S. Kft DIGI Spain DIGI Teleco
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