Altice Europe — Altice International — Q1 2025 Earnings Presentation
14 slides from Altice Europe's earnings presentation, May 27, 2025
Slide 1: Altice International Q1 2025 results
Altice International Q1 2025 results May 27, 2025
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENTS Certain statements in this presentation constitute forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitatio
Slide 3: Q1 2025 Summary
Q1 2025 Summary Altice International pro forma key financial trends in Q1 2025: • Total revenue of €1,096 million, grew by +1.2% YoY on a constant currency basis (+2.0% reported) • Total EBITDA of €394 million, declined by -4.3% YoY on a constant currency basis (-3.9% reported) • Total OpFCF of €205
Slide 4: Altice International Pro Forma Revenue Trends
Altice International Pro Forma Revenue Trends Q1 2025 revenue trends YoY +2.0% (CC +1.2%) (€m) • Total: +2.0% (CC +1.2%) 1,096 • Portugal: +2.4% 1,075 • Israel: +1.4% (CC -3.0%) 139 134 • Dominican Republic: -3.2% (CC -0.8%) 263 267 Revenue trends YoY (CC) +7.8% +7.0% +5.9% +4.4% +4.2% +4.0% +3.3% +
Slide 5: Altice International Pro Forma Financials
Altice International Pro Forma Financials €m Q1-24 Q1-25 Growth YoY Reported Growth YoY Constant FX Portugal 681 697 +2.4% +2.4% Israel 263 267 +1.4% -3.0% Dominican Republic 139 134 -3.2% -0.8% Eliminations & other -8 -2 - - Revenue 1,075 1,096 +2.0% +1.2% Portugal 258 244 -5.6% -5.6% Israel 77 79
Slide 6: Q1 2025 Free Cash Flow
Q1 2025 Free Cash Flow (€m) 394 (189) 205 (216) (13) (5) (6) (76) (111) Adjusted Accrued OpFCF Interest Pension Taxes Dividends to Change in WC & FCF EBITDA Capex paid paydown minorities other For footnotes see slide 14 6
Slide 7: Capital Structure and Debt Maturity
Capital Structure and Debt Maturity Altice International 0.19 0.19 3.01 2.90 2.69 Net debt €8,770m WAL 3.1 years (€bn) WACD 5.6% Fixed interest 71% Net leverage (LTM) 5.5x Liquidity €0.83bn Unsecured Net debt €675m WAL 2.8 years WACD 4.8% Secured Net debt €8,095m WAL 3.1 years 2025 2026 2027 2028 20
Slide 8: Q&A
Q&A altice
Slide 9: Appendix
Appendix 9
Slide 10: Reconciliation to Swap Adjusted Debt as of March 31, 2025
Reconciliation to Swap Adjusted Debt as of March 31, 2025 Q1-25 €m Actual Total Debenture and Loans from Financial Institutions 8,859 Value of debenture and loans from financial Institutions in foreign currency converted at closing FX rate -2,717 Value of debenture and loans from financial instituti
Slide 11: Leverage Reconciliation as of March 31, 2025
Leverage Reconciliation as of March 31, 2025 €m Actual Pro Forma Gross Debt Consolidated 9,010 9,010 Cash and cash equivalents -187 -187 Restricted cash -53 -53 Net Debt Consolidated 8,770 8,770 LTM EBITDA Consolidated 1,597 1,601 Net Leverage 5.5x L2QA EBITDA Consolidated 1,554 1,564 Net Leverage 5
Slide 12: Reconciliation to Unaudited GAAP Measures
Reconciliation to Unaudited GAAP Measures €m Q1-25 Revenue - Financial Statements 1,096 Purchasing and subcontracting costs -322 Other operating expenses -178 Staff costs and employee benefits -158 Total 437 Rental expense operating lease -43 Share based expense - Adjusted EBITDA - Financial Stateme
Slide 13: Q1 2025 Free Cash Flow and Change in Net Debt
Q1 2025 Free Cash Flow and Change in Net Debt (€m) 689 170 394 (189) 205 647 (216) (13) (5) (6) (76) (17) (111) Adjusted Accrued OpFCF Interest Pension Taxes Dividends Change in WC FCF Restructuring & M&A Financing Change EBITDA Capex paid paydown to minorities & other Other non recurring & FX in ne
Slide 14: Footnotes
Footnotes Financial and statistical information is for the quarter ended March 31, 2025, unless otherwise stated, and any year over year comparisons are for the quarter ended March 31, 2024. Financial and All slides statistical information as presented in this press release is pro forma for the sale