Digi Communications NV · BVB:DIGI
Digi Communications NV — Cable Communications Systems (CCS) — Q1 2015 Earnings Presentation
21 slides from Digi Communications NV's earnings presentation, Jun 18, 2015
Slide 1: Investor presentation for the three months ended March 31, 2015
Investor presentation for the three months ended March 31, 2015 Cable Communications Systems (CCS) Parent Company of June 18, 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 Three months Three months Three months Three months ended ended ended ended March 31, 2015 March 31, 2015 March 31, 2015 March 31, 2015 Revenues and other income² €126.2 m €31.0 m €20.8 m €177.3 m EBITDA €41.5 m €12.2 m €2.3 m €56.1 m EBITDA margin¹ 3
Slide 4: Recent Developments
p. 4 Recent Developments On May 22, 2015 we refinanced our 2013 Senior Facilities Agreement through a new club bank facility (the 2015 Senior Facilities Agreement). Total amount drawn under the 2015 Senior Facilities Agreement was RON 1,034 million (the equivalent in RON of €235 million at the exc
Slide 5: Financial highlights
p. 5 Financial highlights Eur. m Revenues & other income Adj. EBITDA CAPEX Revenues increased Q1 2015 200 compared with Q1 2014 in Romania, 178 177 Spain and Hungary. Revenues in 180 170 Romania increased by EUR 17.6 160 160 154 154 million as a result of increase in sale of equipments to clients
Slide 6: Highlights Romania – Revenues and Adj EBITDA
p. 6 Highlights Romania – Revenues and Adj EBITDA Results of Operations For the three months ended Results of Operations March 31, % change 2014 2015 (euro in millions) Revenues(1) 108.5 126.2 16.3% Adjusted EBITDA 47.7 41.5 -13.0% Margin % 44.0% 32.9% Revenues(1) in constant currency 108.5 125.1 15
Slide 7: Highlights Romania - KPIs
p. 7 Highlights Romania - KPIs Subscribers RGUs Period Ended Subscribers (Thousand RGUs) March 31, Net Additions 2014 2015 Last 12 months Last 3 months Cable TV 2,506 2,633 127 34 Fixed internet and data 1,728 1,868 140 34 Fixed-line telephony 1,509 1,455 (54) (15) Mobile telephony 1,066 1,485 419 9
Slide 8: Highlights Hungary – Revenues and EBITDA
p. 8 Highlights Hungary – Revenues and EBITDA Results of Operations Results of Operations For the three months ended March 31, % change Increase in revenues in Q1 2015 compared 2014 2015 with Q1 2014 in both real and constant (euro in millions) currency terms. Revenues 29.3 31.0 5.8% Adjusted EBIT
Slide 9: Highlights Hungary - KPIs
p. 9 Highlights Hungary - KPIs Subscribers RGUs Period Ended Subscribers (Thousand RGUs) March 31, Net Additions Last 12 Last 3 Steady growth of Triple Play 2014 2015 months months subscribers and increase in Cable TV 401 416 15 5 the penetration of Internet Fixed internet and data 330 355 25 8 an
Slide 10: Highlights Other Territories
p. 10 Highlights Other Territories For the three months ended % March 31, change 2014 2015 Spain: (euro in millions) Revenues • Steady growth in RGUs Spain1 12.3 16.1 30.9% • We have negotiated the extension Czech Republic 1.2 1.7 41.7% of our MVNO agreement with Italy 3.6 3.1 -13.9% Telefonica un
Slide 11: Group Financial Profile
p. 11 Group Financial Profile Maturity profile Term Loan & Notes Financial liabilities as of March 31, 2015 as of March 31, 2015 (EUR millions) Amount Facility (EUR millions) 500 450 Senior Secured Notes* 450.0 Term loan (5y) 250.0 400 Financial leases 7.3 Other short term debt 4.1 300 Hedging oblig
Slide 12: Group Financial Profile (continued)
p. 12 Group Financial Profile (continued) Pro forma Maturity profile Loan & Notes On May 22, 2015 we refinanced our 2013 (EUR millions) Senior Facilities Agreement (term loan 5y) 500 473 and converted the related EUR exposure into RON. Loan Bond The total amount of this facility is the 400 equiv
Slide 13: Group Financial Profile (continued)
p. 13 Group Financial Profile (continued) Gross / Net Debt (EUR millions) 800 730 738 668 54 58 50 Total net debt as of March 31, 2015 is €681 600 million 400 Net Leverage is 3.0x and Gross Leverage is 617 675 681 3.3x. 200 - 2013 2014 Q1 2015 Net Debt Cash Leverage 3.5x 3.3x 3.2x 3.0x 2.6x 3.0x
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 Q2 2015 Results 4-Sep-15 Thursday 10-Sep-15 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 Thursda
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 Q1 2015 revenue split by product Q1 2015 revenue split by country Czech Other Republic Italy revenues 2% 1% 11% Spain 9% DTH Cable TV 11% 28% Hungary 17% Mobile telephony 14% Romania 71% Mobile Fixed internet and Fixed-line internet and data telephony data 5% 5% 26% CCS / RCS &
Slide 18: Group Results (P&L)
p. 18 Group Results (P&L) For the three months ended March 31, % change 2014 2015 (euro in millions) Revenues & other income Romania 107.6 125.8 16.9% Hungary 29.3 31.0 5.7% Spain 12.1 15.8 31.2% Other 1.2 1.7 36.4% Discontinued Operations1 3.6 3.1 -15.0% Total Revenues 153.9 177.3 15.3% Adjusted EB
Slide 19: Cash Flow
p. 19 Cash Flow Summary Cash Flow Three months ended March 31, 2014 2015 (euro in millions) Cash flows from operations before working capital changes 60.2 54.1 Cash flows from changes in working capital (12.1) 15.2 Cash flows from operations 48.0 69.3 Interest paid (3.3) (3.6) Income tax paid (0.5)
Slide 20: FOREX development
p. 20 FOREX development RON/EUR Exchange Rate 2013 – Q1 2015 HUF/EUR Exchange Rate 2013 – Q1 2015 4.70 320 312 308 308 309 4.60 310 306 4.50 4.50 4.44 4.45 4.43 4.45 297 296 298 298 4.43 4.41 300 4.39 4.40 4.40 290 4.30 280 4.20 4.10 270 4.00 260 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 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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