Eutelsat Communications Sa · EURONEXT:ETL

Eutelsat Communications Sa — H1 2011-2012 Earnings Presentation

25 slides from Eutelsat Communications Sa's earnings presentation, Feb 17, 2012

  1. Slide 1: Financial Results First Half 2011-2012

    Financial Results First Half 2011-2012 February 17, 2012 1

  2. Slide 2: 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

  3. Slide 3: Agenda

    Agenda First half delivers solid results Sustained operational performance Financial overview Positive outlook: growth & profitability 3

  4. Slide 4: First Half Delivers Solid Results

    First Half Delivers Solid Results Revenue €602.4 M, up 4.6% (6.0% at constant currency) Strong profitability: EBITDA at €479 M EBITDA Industry leading 79.4% margin Group share of net income at €157 M Net result 26% net margin Financial Robust financial position, with Net Debt / EBITDA at 2.53x posit

  5. Slide 5: Key Achievements in H1 2011-2012

    Key Achievements in H1 2011-2012 Successful launches of ATLANTIC BIRD 7 and W3C and subsequent redeployments ATLANTIC BIRD 7 and W3C came into operation in Q2 2011-2012 at 7°West and 16°East respectively ATLANTIC BIRD 4A redeployed at 3°East and renamed E UTELSAT 3C W2M redeployed at 48°East and ren

  6. Slide 6: Increased Free-Float Following Abertis Telecom Stake Disposal

    Increased Free-Float Following Abertis Telecom Stake Disposal 25.6% Others & Public 59.0% 15.4% 6

  7. Slide 7: Agenda

    Agenda First half delivers solid results Sustained operational performance Financial overview Positive outlook: growth & profitability 7

  8. Slide 8: Record Backlog Providing Strong Visibility

    Record Backlog Providing Strong Visibility Backlog (€bn) + €467m since December 31, 2010 with ATLANTIC BIRD 7 and W3C entry into service 5.3 4.9 Weighted average residual life of contracts: 7.3 years 4.2 Video 93 % 92 % 93 % Approximately 4.6 years of H1 2009-10 H1 2010-11 H1 2011-12 FY 2010-11 reve

  9. Slide 9: New Capacity to Expand our Activity

    New Capacity to Expand our Activity Fill rate down to 76.1% Operational transponders (in txp) Most of the additional capacity is related to the new KA-SAT project or +22.7% +22.7% allocated to two recently opened orbital positions, 3°East and 48°East 8011 Launches and redeployments towards 653 the e

  10. Slide 10: First Half Growth in All Our Applications

    First Half Growth in All Our Applications €M +2.9% +2.9% VIDEO 403 67.7% 392 DATA AND H1 2010-11 H1 2011-12 BROADBAND €M ++0.8% 0.8% 117 118 H1 2010-11 H1 2011-12 19.8% €M +29.9% +29.9% 74 57 12.5% MULTI-USAGE H1 2010-11 H1 2011-12 Expressed as percentage of turnover as of December 31, 2011 excludin

  11. Slide 11: Video: Strong Exposure to Growing Markets

    Video: Strong Exposure to Growing Markets Consolidation of key orbital DTH slots with ATLANTIC BIRD 7 and W3C 10% increase in channels (+391) vs. H1 2010-11 4,173 TV channels (of which 283 HD, 7% penetration) TV channel expansion (including HD) is mainly driven by high growth markets which now accou

  12. Slide 12: Data and Value Added Services Transition

    Data and Value Added Services Transition Data services Revenues for Data & VAS (€M) Sustained demand in Africa, Central Asia, Middle East Interconnection of corporate 117 +0.8% 118 +0.8% networks, GSM backhaul, Internet +21.2% trunking 96 +21.2% 24 23 VAS VAS 22 22 Value-added services Consumer (Too

  13. Slide 13: Multi-usage: An Exceptional H1 2011-2012

    Multi-usage: An Exceptional H1 2011-2012 Revenues from Multi-usage Multi-usage strong performance (€M) driven by previous year commercial dynamics and renewals +29.9%11 +29.9% Strong September 2011 renewals +29.1% +29.1% 74 on W5, W6 & ATLANTIC BIRD 2 57 44 H1 2009-10 H1 2010-11 H1 2011-12 1 +34.6%

  14. Slide 14: Agenda

    Agenda First half delivers solid results Sustained operational performance Financial overview Positive outlook: growth & profitability 14

  15. Slide 15: Strong Net Margin Despite Non-Recurring Financial Charges

    Strong Net Margin Despite Non-Recurring Financial Charges Extracts from the consolidated income statement in €M1 H1 2010-11 H1 2011-12 Change Revenues 576 602 +4.6% +6.0% at constant euro-dollar exchange rate EBITDA2 463 479 +3.4% EBITDA margin 80.4% 79.4% Industry-leading EBITDA margin Operating in

  16. Slide 16: Industry Leading EBITDA Margin Maintained

    Industry Leading EBITDA Margin Maintained EBITDA (€M) Industry-leading, EBITDA margin of 79.4% +3.4% +3.4% Continued policy of strict operating costs control +12.5% +12.5% 479 463 Operating expenses rose as 412 resources were added to reinforce the Group’s overall commercial activity, notably on EBI

  17. Slide 17: Strong Net Cash Flows From Operating Activities

    Strong Net Cash Flows From Operating Activities €M 371 333 316 242 227 226 % of revenues 62 % 45 % 64 % 39 % 55 % 40 % H1 2009-10 H1 2010-11 H1 2011-12 Net Cash flows from operating activities Capital expenditure 17

  18. Slide 18: Continuous Strengthening of Group Financial Structure

    Continuous Strengthening of Group Financial Structure Net debt1 (€M) €2,415 M Net debt / EBITDA at 2.53x €2,380 M (down from 2.75x at December 31, 2010) 1,615 Term loan2 800 Term Loan2 Average maturity: 5.1 years, taking into account the refinancing3 Average cost of debt after hedging: 4.48% 132 Bon

  19. Slide 19: Funding Diversification And Improved Maturity Profile

    Funding Diversification And Improved Maturity Profile Funding diversification towards more bond debt1 December 31, 2009 December 31, 2010 December 31, 2011 1% 33% 34% 100% 67% 65% Bank debt Bonds Others Improved debt maturity profile Pre-refinancing (€M) Post-refinancing2 (€M) 300 850 200 850 800 1,

  20. Slide 20: Agenda

    Agenda First half delivers solid results Sustained operational performance Financial overview Positive outlook: growth & profitability 20

  21. Slide 21: Eutelsat's Supply to Address Fast Growing Markets

    Eutelsat’s Supply to Address Fast Growing Markets The 7 satellites entering into service during our outlook period, together with the redeployments, will add 20% additional capacity to support our growth prospects in high growth markets 3 year outlook period June 2011 – June 2014 2011 2012 2013 2014

  22. Slide 22: Objectives Confirmed

    Objectives Confirmed FY11–12: above €1,235 million Revenue 2011–2014: CAGR above 7% FY11–12: above €955 million EBITDA 2011–2014: EBITDA margin above 77% each year CAPEX 2011–2014: €550 million average per annum Distribution 50% to 75% of Group share of net income Net Debt ÷ Below 3.5x EBITDA Invest

  23. Slide 23: At Eutelsat, we Deliver…

    At Eutelsat, we Deliver… Growth Growth driven by digital video and broadband services in markets with highest potential Profitability Consistently high profitability, highest among peers Reliability A company that has delivered on financial expectations year after year 23

  24. Slide 24: Appendix

    Appendix i eutelsat

  25. Slide 25: Eutelsat, one Group, one Name, one Fleet

    Eutelsat, one Group, one Name, one Fleet We are renaming our satellites from 1 March 2012 Satellites in orbit Current names New names from March 2012 Future satellites ATLANTIC BIRD 1 ► EUTELSAT 12 West A New names from 1 March 2012 ATLANTIC BIRD 2 ► EUTELSAT 8 West A ATLANTIC BIRD 7 ► EUTELSAT 7 We

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