Slide 1: Space42 9M 2024 Pro Forma Results Presentation
Space42 9M 2024 Pro Forma Results Presentation 7 November 2024 Copyright © 2024 Space42 Plc (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.
Slide 2: Key speakers
Key speakers Karim Michel Sabbagh Andrew Cole Managing Director CFO Copyright © 2024 Space42 Plc (Space42) 2
Slide 3: Agenda
Agenda 1 Key highlights 2 Strategy update 3 Financial overview (9M’24) 4 Appendix
Slide 4: Key highlights
ISPACERES Key highlights
Slide 5: Key highlights (9M'24)
Key highlights (9M’24) Differentiated and leading player in SpaceTech formed by the merger between Bayanat and Yahsat Solid growth foundations underpinned by a 5-Year Strategic Plan, unique capabilities and assets across the value chain Robust pro forma results for 9M 2024: Adjusted EBITDA increased
Slide 6: Strategy update
ISPACERES Strategy update
Slide 7: Space42 launched: Enlighten the world from space
launched Enlighten the world from space Space42 is UAE’s national champion with global reach, distinguished by seamless integration of satellite communication, geospatial, and AI capabilities, positioned as a formidable space industry powerhouse Key pro forma financials (LTM as of 30 Sep 20241) Merg
Slide 8: Merger drivers: convergence of use cases, technology, AI
Merger drivers: convergence of use cases, technology, AI Unlocking value Unique combination of SatCom, Geospatial and for customers AI assets • Superior insights • NRT1 situational awareness and control • Improved connectivity and security Optimal balancing of cash-generating and high- AI growth bus
Slide 9: Space42 strategic pillars: translating vision into reality
Space42 strategic pillars: translating vision into reality Core pillars and sectorial priority will secure future growth, with indirect uplift in the longer-term from key enablers Enabling Pillar Core Pillars Become the preferred partner for premium geospatial data 1 Drive in-country space Build tie
Slide 10: Space42 is organised in two business units
Space42 is organised in two business units Yahsat Space Services Bayanat Smart Solutions Business unit focuses on Upstream and Mid-stream Business unit focuses on Downstream AI-enabled services infrastructure-centric activities, mainly covering and new technology incubation, mainly covering Yahsat’s
Slide 11: Financial overview (9M'24)
3 Financial overview (9M’24) Note: To allow for like-for-like comparison between periods, unaudited pro forma financials for Space42 have been prepared, as if the merger had occurred on 1 January 2023. This financial information is subject to change following completion of the on-going purchase pric
Slide 12: Financial highlights
Financial highlights Impact of modest adverse factors on revenue fall more Yahsat Space Services (“YSS”) revenue down 8% due to impact of than offset by strong cost control and other items previously communicated T3 anomaly on Commercial business, with resulting in 6% increase in Adjusted EBITDA a
Slide 13: Income statement highlights
Income statement highlights Financial extracts 9M'24 9M'23 9M y/y ∆ Revenue lower (-7% 9M y/y) reflecting modest adverse factors in both Yahsat Space Services and Bayanat Smart Solutions Revenue 429 462 (7%) (33) Cost of revenue (96) (111) (14%) 15 Space Services impacted by weaker Commercial bu
Slide 14: Normalized results
Normalized results Normalized Adjusted EBITDA Normalized Net Income 9M'24 9M'23 9M y/y ∆ 9M'24 9M'23 9M y/y ∆ Adjusted EBITDA 230 218 6% 12 Net income (Space42 share) 119 101 17% 18 One-off restructuring costs – 3 (100%) (3) Total EBITDA adjustments (27) 4 nm (31) One-off merger costs 3 1 nm 2 Tax i
Slide 15: Financial performance by business unit
Financial performance by business unit Revenue by business unit Adjusted EBITDA by business unit +6% -7% 9M’24 9M’24 462 230 428 217 18 26 8% 139 130 30% 212 70% 191 323 298 92% 9M’23 9M’24 9M’23 9M’24 47% 54% Adjusted EBITDA margin Yahsat Space Services Bayanat Smart Solutions Note: Yahsat Space Se
Slide 16: Business unit performance
Business unit performance Yahsat Space Services Bayanat Smart Solutions Revenue Adjusted EBITDA Revenue Adjusted EBITDA +11% -8% -6% -33% 323 212 139 26 298 191 6 130 1 81 49 17 18 74 74 25 206 175 21 241 249 65 56 -3 9M’23 9M’24 9M’23 9M’24 9M’23 9M’24 9M’23 9M’24 Government Services Commercial Ser
Slide 17: Contracted future revenues out to 2043
Section 1 | Section 2 | Section 3 Contracted future revenues out to 2043 92% of cumulative contracted revenues relate to Yahsat Space Services c.10x LTM revenue Yahsat Space Services Bayanat Smart Solutions 5,108 7,141 5,059 400 49 354 419 46 358 6,597 499 61 of which: CMSM1 - $5.1bn 387 CSA - $0.5b
Slide 18: Strong Balance Sheet
Strong Balance Sheet Balance sheet extracts Sep'24 Dec'23 9M YTD ∆ Increase in CWIP reflects ramp up of AY 4 & 5 program, Fixed assets (satellites, ground systems/infrastructure, accounting for USD 198 million of increase, T4-NGS milestones 561 673 (17%) (112) and SAR Earth observation project and
Slide 19: Pro Forma cash flow
Pro Forma cash flow Strong cash position maintained year-on-year with conversion rate in excess of 90%1 95 (240) Space Services: 99 USD +160m Smart Solutions: CapEx over 90% Mainly comprises 3 items USD -65m, reflecting satellite related, in Dividend payments of timing shifts in particular A
Slide 20: ISPACERES
ISPACERES
Slide 21: Appendix
ISPACERES Appendix
Slide 22: Alternative Performance Measures
Alternative Performance Measures Space42 regularly uses alternative performance measures which are relevant to enhance the understanding of the financial performance and financial position of the Group. These measures may not be comparable to similar measures used by other companies; they are neithe
Slide 23: Disclaimer
Disclaimer The information contained in this presentation represents a summary of the condensed pro forma consolidated financial statements for the nine months ended 30 September 2024 (the 9M 2024 Financial Statements) of Space42 PLC and its subsidiaries (Space42). This presentation does not purport
Slide 24: space42.ai ir@space42.ai
space42.ai ir@space42.ai Copyright © 2024 Space42 Plc (Space42) This document contains Space42's proprietary and confidential information. Any disclosure, copying, distribution or use is prohibited, if not otherwise explicitly agreed with Space42 in writing.