Eutelsat Communications Sa · EURONEXT:ETL
Eutelsat Communications Sa — Q3 2020-21 Earnings Presentation
20 slides from Eutelsat Communications Sa's earnings presentation, May 11, 2021
Slide 1: Third Quarter 2020-21 Revenues
THIRD QUARTER 2020-21 REVENUES 11 May 2021
Slide 2: Agenda
AGENDA 1. Key Events 2. Q3 2020-21 Performance 3. Outlook 2
Slide 3: Highlights
HIGHLIGHTS • Q3 revenues of €301m, in line with expectations €4.5bn backlog up 6% year-on-year and representing 3.5 • years of revenues Favourable outturn of Spring 2021 renewal campaign with • USG at a record-high 95% renewal rate Sustained progress in our Fixed Broadband rollout • Nine month perfo
Slide 4: Q3 Revenues in Line with Expectations
Q3 REVENUES IN LINE WITH EXPECTATIONS Total revenues of €301m, down -6.4% Q3 YoY revenue bridge (€m) Slightly positive perimeter effect • €2m contribution from BBB Europe -6.1% +2 +8 Negative currency effect (11) • €/$ rate of 1.22 vs 1.10 last year (20) Positive swing of €8m in ‘Other Reven
Slide 5: Robust Commercial Activity
ROBUST COMMERCIAL ACTIVITY Fixed Data Fixed Broadband Multi-year contract with New Multiple agreements strengthening Zealand's’ operator for African distribution capabilities backhaul with E172B Government Services Mobility Spring 2021 renewal rate with USG Contract with Global Eagle for at
Slide 6: Sustained Progress in Fixed Broadband Rollout
SUSTAINED PROGRESS IN FIXED BROADBAND ROLLOUT PROGRESS IN WESTERN EUROPE STRENGTHENING DISTRIBUTION IN AFRICA EUTELSAT KONNECT now at full coverage South Africa: Wholesale agreement with Vox following agreement Retail operations extended to new areas with Paratus • Extended to the full territo
Slide 7: Entering LEO Space Through OneWeb
ENTERING LEO SPACE THROUGH ONEWEB Attractive entry point to considerable LEO opportunity: $550m for a 24% stake in an almost fully • funded promising growth asset just ahead of partial commercial rollout Oneweb ideally positioned to be among the winners in NGSO landscape thanks to strong spectrum •
Slide 8: Agenda
AGENDA 1. Key Events 2. Q3 2020-2021 Performance 3. Outlook 8
Slide 9: Q3 FY 2020-21 Revenues by Application
Q3 FY 2020-21 REVENUES BY APPLICATION REVENUE REVENUES LIKE-FOR-LIKE2 CONTRIBUTION1 (€m) YOY CHANGE BROADCAST 62% 182 -6.8% DATA & 13% PROFESSIONAL 40 -6.7% VIDEO GOVERNMENT 13% SERVICES 37 -0.3% FIXED BROADBAND 7% 21 +1.9% MOBILE CONNECTIVITY 5% 16 -17.2% TOTAL OPERATING VERTICALS 294 -6.1% OTHER R
Slide 10: Broadcast
BROADCAST 62% Q3 revenues of €182m, down 6.8% YoY like- 785 for-like1 in line with expectations • Impact of the renegotiation of contract terms with Greece’s Forthnet Q4 196 • Anticipated slowdown in the pace of new business due to Covid-19 crisis affecting notably distributors • Q3 2019-20 includ
Slide 11: Robust Channel KPIs
ROBUST CHANNEL KPIS Stable • Slight decline in Europe including lower line up at 6,867 6,608 6,864 5°W following E5WA end of life in stable orbit and decline in Sky Italia line-up +4% CHANNEL COUNT • Progression in emerging markets, in particular March Dec. March LATAM (BluTV) and SSA (Multichoice)
Slide 12: Data & Professional Video
DATA & PROFESSIONAL VIDEO 13% Q3 revenues of €40m, down 6.7% Y-o-Y like-for-like1 175 Revenues down 4.0% Q-o-Q Fixed Data Q4 43 • Highly competitive environment Q3 45 • Growth in volume notably in MENA and APAC 40 Q3 partly offsetting price pressure Q2 45 42 Q2 Professional Video still in de
Slide 13: Government Services
GOVERNMENT SERVICES 13% Q3 revenues of €37m, down 0.3% Y-o-Y like-for-like1 161 • Contribution of EGNOS payload on E5WB • New business with USG customers • Negative carry-forward effect of 2020 USG Q4 43 renewals Q3 40 37 Q3 Revenues down 2.3% Q-o-Q Q2 39 39 Q2 Record high spring 2021 USG rene
Slide 14: Fixed Broadband
FIXED BROADBAND 7% Q3 revenues of €21m, up 1.9% Y-o-Y like-for-like1 77 77 • Initial revenues from Konnect Europe including Orange contract Q4 19 • Growth at our African operations • Decline in the contribution of KA-SAT 21 Q3 Q3 19 Revenues down 12.9% QoQ 19 22 Q2 • Q2 included a high level of
Slide 15: Mobile Connectivity
MOBILE CONNECTIVITY 5% Q3 revenues of €16m, down 17.2% YoY and stable QoQ like-for-like1 79 79 On-going impact of Covid-19 crisis on aero mobility Q4 17 • Lower airtime-related revenues on KA-SAT • Lower revenues from certain service providers 21 Q3 16 Q3 Maritime remaining on an upward trend
Slide 16: Backlog & Fill Rate
BACKLOG & FILL RATE BACKLOG (€BN) OPERATIONAL & UTILIZED TRANSPONDERS Fill rate 69.7% 70.1% 69.5% 4.2 4.4 4.5 1,377 1,380 1,366 959 967 950 Operational Transponders Broadcast 67% 67% 64% Utilized Transponders 31 March 2020 31 Dec. 2020 31 March 2021 31 March 2020 31 Dec. 2020 31 March 2021 • Backlog
Slide 17: Agenda
AGENDA 1. Key Events 2. Q3 2020-21 Performance 3. Outlook 17
Slide 18: Revenue Objective Raised Once Again
REVENUE OBJECTIVE RAISED ONCE AGAIN OPERATING VERTICALS ► Between €1,200 to €1,220m in FY 2020-211 REVENUES1 Vs. between €1,190m to €1,220m previously ► Not exceeding average of €400m2 per year CASH CAPEX for the period July 2020 to June 2022 ADJUSTED DISCRETIONARY ► Between €390m and €420m in FY 20
Slide 19: Disclaimer
DISCLAIMER This presentation does not constitute or form part of and should not be construed as any offer for sale of or solicitation of any offer to buy any securities of Eutelsat Communications, nor should it, or any part of it, form the basis of or be relied on in connection with any contract or
Slide 20: Future Launches
FUTURE LAUNCHES EUTELSAT KONNECT EUTELSAT EUTELSAT 10B EUTELSAT 36D NAME HOTBIRD 13F VHTS HOTBIRD 13G Orbital 48°East 13° East TBD 13° East 10° East 36° East Position Approx. Q3 2021 H2 2021 H1 2022 H1 2022 H2 2022 H1 2024 Launch date1 Manufacturer Launcher TBD TBD TBD TBD Coverage Flexible Europe E
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