SES SA FDR (Class A) · EURONEXT:SESG
SES SA FDR (Class A) — SES — Investor Presentation (December 2024)
9 slides from SES SA FDR (Class A)'s investor presentation, Dec 16, 2024
Slide 1: SES & SpaceRise Sign IRIS2 Concession Contract
16 December 2024 SES & SPACERISE SIGN IRIS2 CONCESSION CONTRACT
Slide 2: Disclaimer
Disclaimer Forward looking statements This communication contains forward-looking statements. Generally, the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “contemplate,” “predict,” “forecast,” “likely,” “believe,” “target,” “will,” “could,” “would,” “should,” “potential,” “m
Slide 3: Increasing Importance of a Sovereign Network for the EU
Increasing Importance of a Sovereign Network for the EU SES-led consortium to design, deliver, & operate innovative multi-orbit sovereign connectivity system for period of 12 years IRIS2 is the flagship for Europe’s future connectivity network Strategic asset for the EU’s future security & resilienc
Slide 4: Platform for Our Next-gen MEO Network Evolution
Platform for Our Next-gen MEO Network Evolution 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 O3b Classic (20 satellites) O3b mPOWER (13 satellites by 2027(1)) Constellation expected to be at full utilisation from 2030 IRIS2 MEO (18 satellites), plus access to LEO capacity IRIS2 well
Slide 5: Stronger Right to Win in Our Growing 'Green Zone' Segments
Stronger Right to Win in Our Growing ‘Green Zone’ Segments Globalising the MEO experience with IRIS2 IRIS2 Total Addressable Market (€B) & Key Customer Applications 100% pole-to-pole coverage €42B Cruise connectivity High performance connectivity Scalable bandwidth €30B Global Inflight connectivity
Slide 6: Contract Consistent With Our Disciplined Financial Policy
Contract Consistent With Our Disciplined Financial Policy Revenue (cumulative) EBITDA margin IRR protections include: RDV point after 12 months to validate project cost, technical requirements, ~€6B ~55% delivery timetable with ability to negotiate or exit in event of excess costs, not meeting tec
Slide 7: Reaffirming Our Combined Financial Outlook
Reaffirming Our Combined Financial Outlook REVENUE ADJUSTED EBITDA ADJUSTED FCF (pre-IRIS2) ADJUSTED NET LEVERAGE Low to mid Mid single Over Below single digit digit €1B 3 times CAGR (2024E-2028E) CAGR (2024E-2028E) By 2027E/2028E 12-18 months after closing Networks ~60% of total Fast execution of €
Slide 8: Expanded FCF Profile to Drive Sustained Value Creation
Expanded FCF Profile to Drive Sustained Value Creation Adjusted Free Cash Flow (FCF) Before IRIS2 (€M) >€1.0B €370M run rate synergies (of which ~70% expected to be executed by end of Year-3) IRIS2 2025-2030 CapEx Total SES investment of up to €1.8B, with Low to mid single digit revenue CAGR (2024-
Slide 9: SES Investor Relations
SES Investor Relations Email: IR@ses.com Telephone: +352 710 725 261 | 16 December 2024