Shenandoah Telecommunications Co · NASDAQ:SHEN
Shenandoah Telecommunications — Shareholder Meeting (April 2019)
33 slides from Shenandoah Telecommunications's shareholder meeting presentation, Apr 17, 2019
Slide 1: 2019 Shareholder Meeting
April 16, 2019 2019 Shareholder Meeting
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement This presentation includes “forward - looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our business strategy, our prospects and our financial position
Slide 3: Use of Non-GAAP Financial Measures
3 Use of Non - GAAP Financial Measures Included in this presentation are certain non - GAAP financial measures that are not determined in accordance with US generally accepted accounting principles. These financial performance measures are not indicative of cash provided or used by operating activit
Slide 4: Management Reports: Chris French, President and CEO
Management Reports Chris French President and CEO
Slide 5: Financial Highlights
5 $(0.9) $66.4 $46.6 Financial Highlights (in millions) x Revenue Net Income Operating Income x x 2016 2018 2017 Operating Expense
Slide 6: Net Income History
6 Net Income History (in millions) x x x $15.1 $18.1 $13.0 $16.3 $29.6 $33.9 $40.9 ($0.9) $66.4 $46.6 -$10 $0 $10 $20 $30 $40 $50 $60 $70 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Note: 2017 figures break out tax reform impact for comparison
Slide 7: Adjusted OIBDA History
7 Adjusted OIBDA History (in millions) x x x $77 $84 $93 $107 $119 $132 $151 $246 $281 $286 $0 $50 $100 $150 $200 $250 $300 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Slide 8: Cash Dividend History
8 Cash Dividend History (per Share, Split Adjusted) x x
Slide 9: Split-Adjusted Stock Price and Value of Original Share
9 Split - Adjusted Stock Price and Value of Original Share x
Slide 10: David L. Heimbach, Executive Vice President and COO
10 David L. Heimbach x Executive Vice President and Chief Operating Officer Twenty year telecommunications veteran • 2015 - 2018 Rise Broadband • Chief Operating Officer • 1996 - 2000 and 2003 - 2014 Cincinnati Bell • Chief Operating Officer • Sr VP & General Manager, Business/Carrier Markets • VP &
Slide 11: Access, Local, and Fiber Lease External Revenue
11 Access, Local, and Fiber Lease External Revenue (in millions)
Slide 12: Cable Service Revenue by Product
12 Cable Service Revenue by Product (in millions) $56.0 $55.6 $53.2 $47.4 $53.7 $64.3 $8.8 $9.2 $9.6 2016 2017 2018 Video Data Voice Other Service Revenue (not shown) consists primarily of promotions and discounts.
Slide 13: Fiber Network – DOCSIS 3.1 Deployment
13 Fiber Network – DOCSIS 3.1 Deployment ▪ 63% of homes passed are now capable of supporting 1Gbps ▪ 96% of homes passed are now capable of supporting at least 100Mbps
Slide 14: Wireless Network Expansion – Effective February 1, 2018
14 Wireless Network Expansion – Effective February 1, 2018
Slide 15: 15
15
Slide 16: Management Reports: Jim Woodward, Sr. VP of Finance and CFO
Management Reports Jim Woodward Sr. VP of Finance and CFO
Slide 17: Mix of External Revenues
17 Mix of External Revenues (in millions)
Slide 18: Operating Expenses
18 Operating Expenses (in millions)
Slide 19: Adjusted OIBDA by Segment
19 Adjusted OIBDA by Segment (in millions)
Slide 20: Capitalization – As of 12/31/18
20 Capitalization – As of 12/31/18 (in millions) $848 $836 $785 $1,484 $1,412 $1,485 $36 $79 $85 2016 2017 2018 Debt (also shown: interest rate) Total Assets Cash 3.8% 4.2% 4.0%
Slide 21: Shentel Fiber Route Map
21 21 Shepherdstown Charleston Summersville Weston Beckley Covington Franklin Petersburg Amherst Atlanta, GA (Telx) Martinsville Danville Rustburg Appomattox Farmville Crewe Rocky Mount Dinwiddie Clarksville Blackstone Kenbridge Lawrenceville Radford Wytheville Keysville Lebanon Pineville Welch Lees
Slide 22: 22
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Slide 23: Management Reports: Dave Heimbach, EVP and COO
Management Reports Dave Heimbach EVP and COO
Slide 24: PCS Postpaid Subscribers
24 PCS Postpaid Subscribers (in thousands) (Year End)
Slide 25: PCS Postpaid Average Revenue Per Unit
25 PCS Postpaid Average Revenue Per Unit
Slide 26: PCS Prepaid Subscribers
26 PCS Prepaid Subscribers (in thousands) (Year End)
Slide 27: PCS Prepaid Average Revenue per User
27 PCS Prepaid - Average Revenue per User
Slide 28: Cable Revenue Generating Units
28 Cable Revenue Generating Units (in thousands) x Customers 80,114 77,366 77,828 (Year End)
Slide 29: Cable Average Monthly Revenue per Customer
29 Cable Average Monthly Revenue per Customer
Slide 30: Wireline Customers
30 Wireline Customers (Year End) 14,314 14,353 14,464 18,443 17,933 19,131 2016 2017 2018 2016 2017 2018 Access Lines Broadband
Slide 31: Fixed Wireless
Fixed Wireless LEA
Slide 32: Investing in the Future: Capex Spending
32 Investing in the Future (in millions) Capex Spending
Slide 33: 2019 Shareholder Meeting
April 16, 2019 2019 Shareholder Meeting
Shenandoah Telecommunications — Shareholder Meeting (April 2019) on 6ix